I had set the line at 36 months. Professor Berman nailed it though predicting 24 months.
Judge Rakoff is a model judge, giving an example of how there should not be a trial tax and explaining that the loss guidelines made no sense. From law.com:
Rakoff rejected a guidelines range of 78 to 97 months as an irrational result because it was driven by the amount of money involved in Rajaratnam's trades and it was Rajaratnam, not Gupta, who made money on both bad and good news coming from within the secret confines of Goldman Sachs' boardroom. The judge said two years was enough to send a message of deterrence to would-be insider traders.
Rakoff ordered the sentence, set to begin on Jan. 8, after taking into account Gupta's charitable giving through organizations such as the Global Fund to Fight AIDS, Tuberculosis and Malaria. Rakoff said Gupta had extended a "big heart and a helping hand" to millions.
Thursday, October 25, 2012
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