Business

Rajat Gupta lawyers plead for soft sentence

  • IANS, New York
  • |
  • Updated: Oct 18, 2012 09:09 IST

US prosecutors want Rajat Gupta, a former Indian-American director of Goldman Sachs Group, jailed for up to 10 years, but his lawyers suggest he could repay for his "shocking" crimes with community work in rural Rwanda.

Prosecutors have urged a sentence of 97 to 121 months for Gupta, 63, who is scheduled to be sentenced on October 24 for his June conviction for insider trading on three counts of securities fraud and one count of conspiracy. However, lawyers for Gupta said he should receive probation and community service because he never profited from the alleged illegal trading, lived an "exemplary" life and had already suffered serious consequences. As one option, they suggested Gupta work on health care and agriculture in rural Rwanda.

"It would be punishment reflecting the seriousness of the offence of which he was convicted," Gary Naftalis, a lawyer for Gupta, said, while "enabling him to give back to society and employ his talents in a country, and in a manner, consistent with US interests."

In handing down a sentence to Gupta, US district judge Jed Rakoff, is likely to consider the defence's arguments about Gupta's "exemplary life of uncommon accomplishment" and dedication as a family man despite a demanding career, reports said.

 

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