Rajat Gupta Gets Two-Year Sentence for Insider Trading

Rajat Gupta, the former Goldman Sachs Group Inc. (GS) director and McKinsey & Co. managing director who rose to the pinnacle of Wall Street, was sentenced to two years in prison for passing inside tips to his business partner. Gupta, who ran McKinsey from 1994 to 2003, was sentenced yesterday by U.S. District Judge Jed Rakoff in Manhattan for leaking stock tips to Galleon Group LLC co-founder Raj Rajaratnam. Gupta, 63, was convicted by a jury in June of one count of conspiracy and three counts of securities fraud. More on Bloomberg Businessweek here.

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