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Bail set at $10M for ex-Goldman director in securities fraud

lpast

lpast

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NEW YORK - Washington's broadest-ever fight against insider trading Wednesday snared its most prominent business executive: Rajat Gupta, a former Goldman Sachs director and former head of consulting giant McKinsey & Co.
Gupta pleaded not guilty during a Manhattan arraignment before U.S. District Court Judge Jed Rakoff on one count of conspiracy and five counts of security fraud.
The 62-year-old Westport, Conn., resident, who had surrendered earlier to FBI agents, was released on a $10 million personal recognizance bond secured by the equity in his home. He was required to surrender his passport and limit any travel to the U.S. pending a trial tentatively set for April 9.
The charges are the latest from prosecutors' unprecedented use of secret wiretaps to combat insider trading. The case stems from Gupta's long personal and business relationship with Raj Rajaratnam, the former Galleon Management hedge fund founder who was sentenced to 11 years in prison Oct. 13 after conviction as the central figure in a sprawling, multi-million dollar insider trading scheme.

How can you fault the Obama admin and his DOJ for FINALLY someone going after these pigs at the trough...who make hundreds of millions and its still not enough for them...they have to rob and steal and cheat....throw the key away


Bail set at $10M for ex-Goldman director in securities fraud
 
They'll get 20 years, tops. And it'll take about 10 years to sentence them, and if they get a good lawyer, they might be able to have those 10 years come out of their total as "time served".
 
They need to lockup the guys that created the worthless derivatives that brought the economy to it's knees.
 
KevinKohler said:
They'll get 20 years, tops. And it'll take about 10 years to sentence them, and if they get a good lawyer, they might be able to have those 10 years come out of their total as "time served".
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1 yr in prison to these privledged rich theives that never had a bad day in their lives or cut their own lawn...is a nightmare...they would give everydime they have stolen to stay out of prison...screw them
 
Hundreds, perhaps thousands, of people complicit at some level or another in the worst economic crisis in world history and they prosecute two people. And do nearly nothing to close the legal/regulatory gaps which fostered such an atmosphere. This is a disgrace, not something to cheer about.
 
We can freeze all assets of Wikileaks, preventing them from so much as taking a check for 50 bucks to keep on keeping on, but we can't seem to do anything about THESE guys?
 
Khayembii Communique said:
Hundreds, perhaps thousands, of people complicit at some level or another in the worst economic crisis in world history and they prosecute two people. And do nearly nothing to close the legal/regulatory gaps which fostered such an atmosphere. This is a disgrace, not something to cheer about.
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Its not utopia for sure Khayembii but its better than nothing...I fully understand where your coming from and I agree with you....but these mega rich players on wall street are the most difficult criminals in the world to gather enough evidence on....its not an easy endeavor.
 
We can freeze all assets of Wikileaks, preventing them from so much as taking a check for 50 bucks to keep on keeping on, but we can't seem to do anything about THESE guys?
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We can. They won't.

but these mega rich players on wall street are the most difficult criminals in the world to gather enough evidence on....its not an easy endeavor.
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Well sure, it's very tough to gather evidence when you're not even trying.
 
lpast said:
NEW YORK - Washington's broadest-ever fight against insider trading Wednesday snared its most prominent business executive: Rajat Gupta, a former Goldman Sachs director and former head of consulting giant McKinsey & Co.
Gupta pleaded not guilty during a Manhattan arraignment before U.S. District Court Judge Jed Rakoff on one count of conspiracy and five counts of security fraud.
The 62-year-old Westport, Conn., resident, who had surrendered earlier to FBI agents, was released on a $10 million personal recognizance bond secured by the equity in his home. He was required to surrender his passport and limit any travel to the U.S. pending a trial tentatively set for April 9.
The charges are the latest from prosecutors' unprecedented use of secret wiretaps to combat insider trading. The case stems from Gupta's long personal and business relationship with Raj Rajaratnam, the former Galleon Management hedge fund founder who was sentenced to 11 years in prison Oct. 13 after conviction as the central figure in a sprawling, multi-million dollar insider trading scheme.

How can you fault the Obama admin and his DOJ for FINALLY someone going after these pigs at the trough...who make hundreds of millions and its still not enough for them...they have to rob and steal and cheat....throw the key away


Bail set at $10M for ex-Goldman director in securities fraud
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Great post! But. I don't give President Obama any credit. This is our DOJ in action. It's what they're supposed to do.
 
KevinKohler said:
We can freeze all assets of Wikileaks, preventing them from so much as taking a check for 50 bucks to keep on keeping on, but we can't seem to do anything about THESE guys?
Click to expand...

They have layers of insulation and BILLIONS to buy cover for themselves....wall street is the quite the difficult target for law enforcement...you have the richest most powerful and insulated thieves on the planet.
 
lpast said:
NEW YORK - Washington's broadest-ever fight against insider trading Wednesday snared its most prominent business executive: Rajat Gupta, a former Goldman Sachs director and former head of consulting giant McKinsey & Co.
Gupta pleaded not guilty during a Manhattan arraignment before U.S. District Court Judge Jed Rakoff on one count of conspiracy and five counts of security fraud.
The 62-year-old Westport, Conn., resident, who had surrendered earlier to FBI agents, was released on a $10 million personal recognizance bond secured by the equity in his home. He was required to surrender his passport and limit any travel to the U.S. pending a trial tentatively set for April 9.
The charges are the latest from prosecutors' unprecedented use of secret wiretaps to combat insider trading. The case stems from Gupta's long personal and business relationship with Raj Rajaratnam, the former Galleon Management hedge fund founder who was sentenced to 11 years in prison Oct. 13 after conviction as the central figure in a sprawling, multi-million dollar insider trading scheme.

How can you fault the Obama admin and his DOJ for FINALLY someone going after these pigs at the trough...who make hundreds of millions and its still not enough for them...they have to rob and steal and cheat....throw the key away


Bail set at $10M for ex-Goldman director in securities fraud
Click to expand...

Is anybody faulting Obama yet? Remember when the GOP member apologized to a bunch of CEOs for holding hearing on the oil spill they caused and calling it a "shake down"... that was priceless.
 
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