Obama Donor Rajat Gupta Convicted of Insider Trading

Posted by on Jun 15, 2012 at 12:49 pm

Another Democratic Party bagman is heading off to prison.

Rajat K. Gupta, the retired head of the consulting firm McKinsey & Company and a former Goldman Sachs board member, was found guilty on Friday of conspiracy and securities fraud. He is the most prominent business executive convicted in a wave of prosecutions that followed the government’s sweeping investigation into insider trading on Wall Street.

After a monthlong trial, a jury of eight women and four men took only two days to deliberate before reaching a verdict. The jury found Mr. Gupta guilty of leaking confidential information about Goldman to his former friend and business associate, the fallen hedge fund titan Raj Rajaratnam, on three different occasions in 2008. He was also convicted of conspiring in an insider trading scheme with Mr. Rajaratnam.

Rajaratnam was another criminal closely connected to the White House. Gupta himself was a guest at Obama’s first State Dinner and has showered money on Democrats, including Obama,  over the years. I wonder if any “reporters” will point this stuff out, or do bloggers need to do the heavy lifting for them?


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