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Rajat Gupta Found Guilty of Insider Trading

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  • Description

    FBN's Adam Shapiro breaks down details of Gupta's conviction.

  • Duration 2:15
  • Date

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That a lot while breaking news every one of the trial.

A rajat Gupta felt guilty on securities charges and conspiracy.

Adam Shapiro -- Following this -- joins us with the latest data -- just got the statement from the US attorney's office remember we have a conviction three counts of securities fraud one count of conspiracy from mr.

Gupta and here's what the US attorneys' offices saying.

-- -- go -- once stood at the apex of the international business community today he stands convicted of securities fraud he achieved remarkable success in stature.

But he threw it all away the jury agreeing with prosecutor Brodsky.

That mr.

-- to when he placed phone calls to Roger Roger -- -- -- man who's already been convicted of insider trading.

Shared information that was not available to the public -- that -- brought to run -- Use that information.

To his benefit in fact one of those cases involves investment in Goldman Sachs by.

Warren Buffett five million dollars -- -- -- about a phone call roughly seven minutes before the close of trading on September 23 2008 from.

A member of the board of directors from Goldman Sachs who happen to be.

Rod dot cooped up two minutes before the close of trade that day -- Rodham purchases shares in Goldman Sachs.

The announcement is made after the close of trade that day by drug goes on days later to selling shares in Goldman Sachs.

Makes roughly a -- 5900000.

Dollar profit.

The jury believe that was inside information that move to shared with Roger Roger -- -- much more on all of this coming up but again.

The US attorney's office victorious and what is a big case for that they have just convicted a former member of the board of directors of Goldman Sachs.

-- to sat on the board of directors of Procter & Gamble he is a former director of McKinsey and company and as the US attorney's office says he achieved remarkable success and stature.

But he threw it all away sentencing will be next he faces five years for the conspiracy count.

And twenty years for each of the fraud counts of -- you a quick question out of did they convicted on four of six and and then Diggs sorry until why they -- -- on all.

That that we don't have that information as of yet the judge will is actually and after a conviction as you know the judge goes to each juror and says is -- sure verdict.

As the jurors leave the courtroom that's a great question asked them.

Adam Shapiro and as -- covering -- breaking.

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