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Tuesday, June 17, 2014

Westporter Rajat Gupta Reports to Prison

UPDATE Westporter Rajat Gupta left the comfortable surroundings of his Greens Farms estate today to begin serving a two-year prison term for insider trading. Image
Rajat Gupta: has been free on $10 million bail. File photo

He reported to the federal prison camp at Devens Federal Medical Center in Ayer, Mass., a Federal Bureau of Prisons spokesman said. The facility 40 miles northwest of Boston is about a two and a half-hour drive from Westport.

Gupta, 65, a former member of the Goldman Sachs board, was convicted and sentenced in 2012. He has remained free on $10 million bail while he appealed his conviction. A U.S. Supreme Court justice rejected a last-ditch request on June 11.

A Forbes magazine columnist today offered an online summary of what Gupta is likely to expect as he makes the transition from Westport to prison.

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