The rise of Rajat Gupta in the global corporate world has been nothing short of meteoric. The 63-year old is the most prominent of 70 people convicted since US prosecutors began a nationwide crackdown on insider-trading four years ago.
In June 2012, he was found guilty on three counts of securities fraud and one count of consipiracy for sharing privileged information with friend and Galleon Hedge Fund Chairman Raj Rajaratnam between July 2008 and February 2009. While Gupta was acquitted on the remaining two counts of securities fraud, the convictions themselves carry a maximum prison sentence of 25 years.
Though, US prosecutors are asking for an 8-10 year sentence, Gupta has requested probation in lieu of a jail term and his lawyers have suggested extensive community service with troubled youth in New York or with the poor in Rwanda.
Legal shamans inlcuding Judge Richard Holwell who presided over the Raj Rajaratnam case, say Federal Judge Jed Rakoff will consider many factors before passing the sentence.
Richard Holwell, former US Federal Judge and Partner at Holwell Shuster & Goldberg said, "The judge isn't going to simply focus on the statutory guideline sentence. Those guidelines are no longer mandatory. Judge Rakoff will look at a lot of factors before he decides what an appropriate sentence is in this case and he will consider the defendant's background and other things that he has done in his life along with the crimes he has been convicted of."
That's where Gupta, who is known to have moved in elite business and philanthropic circles for decades may gain an edge. Judge Rakoff has received over 200 letters from several prominent businessmen and humanitarians asking for fairness and leniency. From Microsoft's Bill Gates to former UN Secretary General Kofi Annan to DLF Chairman KP Singh has urged for leniency. Leonard Lauder, the chairman emeritus of Estee Lauder, Reliance Industries' Mukesh Ambani, Ajit Jain, the chief of reinsurance at Berkshire Hathaway, Judith Rodin, the president of the Rockefeller Foundation and Nobel laureate Amartya Sen has pleaded for an easier term.
Interestingly, Judge Rakoff himself is no stranger to such pleas. As a white-collar defence attorney, he once persuaded a judge to give probation to a client convicted at an insider-trading trial. If he does give Gupta's good deeds some weightage, the sentence could be lighter than the 8-10 year but, given the scope of Gupta's crimes, a sentence with no jail term seems unlikely.
Anda sedang membaca artikel tentang
US prosecutors consider 8-10 yr jail term for Rajat Gupta
Dengan url
http://kebugaranhidup.blogspot.com/2012/10/us-prosecutors-consider-8-10-yr-jail.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
US prosecutors consider 8-10 yr jail term for Rajat Gupta
namun jangan lupa untuk meletakkan link
US prosecutors consider 8-10 yr jail term for Rajat Gupta
sebagai sumbernya
0 komentar:
Posting Komentar