Rajat K. Gupta,former Goldman Sachs director, former McKinsey consultant, who was convicted of insider trading for tipping off Raj Rajaratnam (Galleon) about Warren Buffett’s critical $5 billion infusion into Goldman in 2008. Mr. Gupta served a two-year prison sentence, and the Second Circuit has agreed to review his conviction.
His post-prison perspective is incorrect. He tipped off a guy who made a great deal of money on Goldman stock through the use of an inside scoop fed to him by Gupta, who breached his fiduciary duty as a director in so doing. That’s insider trading, with or without a politically ambitious prosecutor and “stupid” juries.