Gupta Convicted of Insider Trading

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.