Seth Waxman

Former Goldman Sachs Group Inc director Rajat Gupta on Tuesday lost his challenge to a $13.9 million civil penalty and a permanent ban from acting as an officer for a public company, the same day he was scheduled to begin serving a two-year prison sentence.

Former Goldman Sachs Group Inc director Rajat Gupta will begin serving a two-year prison term on June 17 after a US federal appeals court rejected his bid to stay free while he appeals his insider trading conviction.

India-born former Goldman Sachs director Rajat Gupta will seek overturning of his insider-trading conviction in a US court on Tuesday by arguing that the case rested exclusively on circumstantial evidence that relied on wiretap statements that did not involve him.

Former Goldman Sachs Group Inc director Rajat Gupta on Tuesday lost his challenge to a $13.9 million civil penalty and a permanent ban from acting as an officer for a public company, the same day he was scheduled to begin serving a two-year prison sentence.

Former Goldman Sachs Group Inc director Rajat Gupta will begin serving a two-year prison term on June 17 after a US federal appeals court rejected his bid to stay free while he appeals his insider trading conviction.

India-born former Goldman Sachs director Rajat Gupta will seek overturning of his insider-trading conviction in a US court on Tuesday by arguing that the case rested exclusively on circumstantial evidence that relied on wiretap statements that did not involve him.