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Ex-Goldman director Rajat Gupta says he's innocent seven years after insider trading conviction



Rajat Gupta, retired head of consulting firm McKinsey & Co. and a former Goldman Sachs board member, was convicted nearly seven years ago of insider trading, and spent 19 months behind bars.

Gupta was convicted of illegally sharing information about Goldman Sachs to hedge fund manager Raj Rajaratnam, who is serving 1

1 years in prison for insider trading. The case involving Gupta revolved around the day in 2008 when Warren Buffett agreed to invest in Goldman Sachs. After the board discussed that investment, Gupta was charged with calling Rajaratnam just 16 seconds later and divulging the Buffett news.

At the time of his sentencing, Gupta was one of the most prominent figures to face prison in the government's widespread crackdown on insider trading.

Gupta told Sorkin that he spent time with Rajaratnam in prison, and ultimately forgave him. "We played Scrabble in prison together We played chess.We had breakfast together."

"I told him, 'Raj, I'm here because of you,'" Gupta said. "He's not the apologizing type, so he did not say, 'I'm sorry.'"


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