Westporter Rajat Gupta, free on $10 million bond while he fights his criminal insider-trading conviction, today was ordered by a federal judge to reimburse $6.22 million to his former employer to cover its legal expenses related to the case.
Rajat Gupta: must reimburse Goldman Sachs. File photo

U.S. District Judge Jed Rakoff, who presided over Gupta’s criminal trial, said Goldman Sachs Group, where Gupta had been a director, “proved by a preponderance of the evidence that 90 percent of its tendered expenses were both necessary and incurred during its participating in the investigation and prosecution.”

Gupta, 64, is appealing his June 15, 2012 conviction and two-year prison term for feeding confidential information he had learned at Goldman board meetings to Raj Rajaratnam, the Galleon Group hedge fund manager and former billionaire.

The judge said he reviewed the more than 542 pages of billing records from Sullivan & Cromwell LLP, which represented the firm during the investigation of both Gupta and Rajaratnam.

Westport-based Connoisseur Media, which owns and/or operates 33 radio stations in 10 markets, has announced it has agreed to buy Cox Media Group’s three Connecticut radio stations, WPLR FM, WEZN FM,  and WFOX FM. 

Connoisseur is also purchasing CMG’s longstanding services arrangement with Yale Broadcasting under which CMG provides sales and other services to Urban Adult Contemporary WYBC-FM.

99.1 WPLR is a 42-year-old heritage Rock station serving the New Haven community. Classic Hits “95.9 The Fox” has served the Stamford/Norwalk market for more than 20 years while Hot Adult Contemporary STAR 99.9 covers four markets in Connecticut and beyond.

Connoisseur has been in a rapid growth mode, recently expanding into several markets including Long Island, Trenton, N.J., and Allentown, Pa. The company has closed on or announced more than $100 million of radio station acquisitions in the past nine months, an announcement said.

A new restaurant, The Red Hen, will officially open at the Westport Inn about March 1 according to owner Hunter Hill King. A 27-year-old 2004 Staples High School graduate, King also owns King’s Kitchen near the Southport Beach which he started in June 2012. He said the restaurant is currently open for breakfast to Westport Inn guests and serves a “limited menu” in the evening for walk-in clientele. King, under a two-year contract with the Westport Inn, describes the Red Hen cuisine as “new age American, a lot of fusion. Our specialty will be lobster quesidillas.”  (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

By Keith M. Phaneuf

UPDATE Gov. Dannel P. Malloy today announced a new agreement that will result in Amazon.com collecting the state sales tax on Connecticut purchases. 

And the online retailing giant, which now can resume working with thousands of small Connecticut companies to drive business to its website, also will open a $50 million distribution center in the next two years, employing about 300 people.

“All in all, this is a win for our state’s taxpayers, our Main Street retailers and our workforce,” Malloy said. “Amazon’s multimillion dollar investment and the hundreds of jobs that will come with both the construction and operation of their future facility will unquestionably boost our local economy.”

“These are good-paying jobs with good benefits that will contribute to the fabric of Connecticut communities,” said Paul Misener, Amazon’s vice president for global public policy.

The display cases were almost bare today as loyal customers John and Susan Shuck of Westport made a purchase at Great Cakes, 722 Post Road East. There has been a rush of customers to the store since word it might have to close because of financial reasons—a possibility pushed off, at least for the moment.  “I’ve been coming here regularly ever since they opened about 30 years ago – – usually about twice a week,” said John Shuck. He said owner Rick Dickinson was an employee at the time. Shuck, a member of the Westport Rotary Club, said Great Cakes was among the generous sponsors of the club’s annual Tennis and Golf Classic fundraiser held each June. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com