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Rajat Gupta to serve out Insider-Trading Sentence at home

Rajat Gupta to serve out Insider Trading Sentence at home pardesi news 1459247788

Rajat Gupta, the former Goldman Sachs director was freed early January, will stay confined to his apartment until March with an ankle bracelet that will monitor his movements.

The Indian-American former director for the Goldman Sachs Group, Rajat Gupta, was freed from a federal correctional facility after receiving credit for good behaviour in early January after serving 19 months in prison, will remain a government detainee until March 13, 2016 limited to his condo in Manhattan's Century in New York. He is also required to wear a lower leg wrist trinket that screens his developments.

Gupta, the former head of consulting firm McKinsey & Co, was convicted in 2012 in an insider trading case that originated with hedge fund Galleon Group’s founder Raj Rajaratnam. He was sentenced to a two-year prison term in Massachusetts. Under a U.S. Bureau of Prisons program called Residential Reentry Management, Gupta must spend his evenings at home. He is permitted to leave for doctors’ and lawyers’ appointments, can attend religious services, go shopping or even get a haircut but must get prior approval from the prison officials.  

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Patrick Callahan

Pardesi News Reporter

Pardesi News Reporter

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