Rajat Gupta ordered to begin prison sentence in June

NEW YORK: India-born former Goldman Sachs director Rajat Gupta, who had lost his appeal to overturn his conviction on insider trading charges, has been ordered to surrender and begin his two-year prison sentence in June.

"Upon consent of the parties, the Court hereby orders the defendant to surrender for service of his sentence at the institution designated by the Bureau of Prisons not later than 2:00 p.m. on June 17, 2014," US District Judge Jed Rakoff said in his order.

On March 25, a US court upheld the 2012 conviction of 65-year-old Gupta on insider trading charges for supplying confidential information to jailed hedge fund boss Raj Rajaratnam.