Insider-trading convict Rajat Gupta walks out of prison as a free man

Former Goldman Sachs director Rajat Gupta, who was convicted for insider trading, walked out of jail after two years.

India-born Gupta's, 67, prison term ended after a US court agreed to rehear his appeal to throw out his 2012 insider-trading conviction.

Gupta was released on March 11 and had completed the last two months of his prison term at his home in Manhattan, after being released on January 5 from the Devens correctional facility in Massachusetts.

He was confined to his apartment and was required to wear an ankle bracelet that monitored his movements.

The Harvard-educated Gupta was convicted in 2012 for passing confidential boardroom information to his one- time friend and business associate Raj Rajaratnam, founder of Galleon Hedge Fund.

Apart from the two-year prison term, he was fined $5 million and the Securities and Exchange Commission also slapped a $13.9-million penalty against him. Rajaratnam is serving an 11-year sentence for insider trading in the main prison adjacent to where Gupta was assigned.

Gupta's attorneys did not immediately respond to emails on whether he would make a statement following his official release. A January report in the New York Times had said that Gupta "appears to be eager to get back to the world he once inhabited".

(Image: Indiatimes)