10 Indian Americans Who Made Headlines in 2012

By siliconindia   |   Wednesday, 04 July 2012, 23:59 IST   |    2 Comments
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1. Rajat Gupta

Rajat Gupta, Goldman Sachs Group's former director was convicted by a federal jury few weeks before, putting an end to the trials which extended up to 14 days. He has been in the news for months regarding the insider-trading case, where he disclosed the earnings of his company (Goldman Sachs) to Rajaratnam. He was found guilty of four out of six counts- three for securities fraud and one for conspiracy.

It is believed that Rajat will receive up to 25 years of imprisonment; 20 years for securities fraud and the rest five years for conspiracy. But according to Gupta’s defence team, he would not have to spend more than ten years in jail.

Gupta is free to appeal and he will be out on bail till October 18, the day when his sentencing will be announced.