After two years of legal battles, Westporter Rajat Gupta, the former Goldman Sachs Group Inc. director found guilty of insider trading, must report to prison next week after a U.S. Supreme Court justice rejected a last-ditch request. 
Rajat Gupta: has been free on $10 million bail. File photo
Justice Ruth Bader Ginsburg, making no comment, today refused to let Gupta, 65, remain free on $10 million bail at his Greens Farms home while he appeals his conviction.
Gupta is scheduled to surrender to prison authorities on Tuesday, June 17 to begin a two-year sentence.
Gupta, who is also a former McKinsey & Co. managing partner, is the highest-profile executive convicted in a crackdown on insider trading at hedge funds. He was found guilty in 2012 of passing illegal tips to billionaire Galleon Group LLC co-founder Raj Rajaratnam.
Gupta argued in papers filed with the court this week that there is no risk he will flee and that he’s likely to win his appeal based on legal errors made in his case.
A federal appeals court in New York affirmed his conviction in March. (See WestportNow March 25, 2014) The appeals court is considering his request to rehear the case. If that court refuses, Gupta says he will seek Supreme Court review.
Gupta said that if the Supreme Court agrees to intervene after he reports to prison, he will have served at least half the two-year sentence before his case is decided.
