NEW YORK: India-born former Goldman Sachs Director Rajat Gupta will report to a prison in Massachusetts to begin his two-year sentence for insider trading, after having fought an over three-year long legal battle with all his might to clear his name. 65-year-old Gupta, once regarded as among the most powerful and influential in corporate America, will serve his jail term at a minimum security satellite camp...
of the Federal Medical Center-Devens in Ayer, Massachusetts. Incidentally Gupta’s camp, which currently has 132 inmates, is next to the medical centre where his one-time friend and business associate hedge fund founder Raj Rajaratnam is serving his 11-year prison sentence for running a massive insider trading scheme. Gupta was convicted in 2012 after a jury trial of passing confidential information about Goldman Sachs to Rajaratnam minutes after he learned about them at the board meetings. The IIT-Delhi and Harvard alumnus will undergo routine medical tests. According to initial information available on the facility’s website, Gupta has been described as a 65-year-old “Asian, male.” According to the camp’s rules, Gupta will be able to receive family and friends on Saturdays, Sundays and federal holidays between 8:30 AM to 3:00 PM while on Fridays between 2:30pm and 8:30pm.(PTI)