Wednesday, October 24, 2012

But would he actually work?

Via Joe.My.God.: Convicted Inside Trader: Let Me Work On AIDS Instead Of Going To Prison

Former Goldman Sachs director Rajat Gupta, who faces ten years in prison for insider trading, is begging the court for leniency. Instead of jail time, Gupta is offering to go to Rwanda and work on that nation's HIV/AIDS crisis.

Mr. Gupta’s lawyers have pleaded for a lenient sentence of probation, accompanied by an order that he perform community service. Gary P. Naftalis, a lawyer for Mr. Gupta, made an unusual request in recommending that Mr. Gupta, who has played a leadership role in a variety of global humanitarian causes, be sent to Rwanda. “The Rwandan government has expressed support for a program of service in which Mr. Gupta would work with rural districts to ensure that the needs to end H.I.V., malaria, extreme poverty and food security are implemented,” Mr. Naftalis wrote. Mr. Gupta is hoping that Judge Rakoff is swayed by the more than 400 letters of support submitted on his behalf, including one from Bill Gates, the Microsoft billionaire and philanthropist, and Kofi Annan, the former United Nations secretary-general. The letters depict a man who, but for his insider-trading conviction, has led an exemplary life.

Gupta coming sentence is being closely watched by all of Wall Street as it may portend what will come for others so convicted.

2 comments:

Tamayn Irraniah said...

Yes, let's send him to a country where there is lax border control and where a little bit of money makes you rich. Whether or not he does humanitarian work, it shouldn't get him off. I think if he really wants to help, why doesn't all the interest accumulating from dividends and derivatives get donated to HIV and AIDS organizations?

Writer said...

Tamayn! Take away a man's freedom, but how dare you touch his money! #sarcasm :)