Gupta Convicted of Insider Trading

    NEW YORK, NY - JUNE 04:  Former director and former senior partner at McKinsey & Co. Rajat Gupta arrives at federal court on for a insider trading trial June 4, 2012 in New York City. Goldman Sachs CEO Lloyd Blankfein is expected to testify today against Gupta, who was also former director of Goldman Sachs and Procter & Gamble Co., and is on trial for leaking tips about both companies.  (Photo by Michael Nagle/Getty Images)

    Michael Nagle / Getty Images

    After two days of deliberations, a Manhattan federal jury convicted former McKinsey & Co. executive Rajat Gupta of insider trading. In what was one of the largest white-collar investigations mounted to date, Gupta was accused of passing privileged information to Raj Rajaratnam, a hedge-fund manager who was sentenced to 11 years in prison last year. The jury of eight women and four men found Gupta guilty of four of the charges against him and acquitted him on two counts.

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