Rajat Gupta has been convicted of insider trading, conspiracy and securities fraud by a U.S. jury, Bloomberg TV reports.
Gupta, a former McKinsey & Co. exec and former Goldman Sachs board member, was found guilty on four counts. He was acquitted of two charges. Gupta was charged with five counts of securities fraud and one count of conspiracy.
Bloomberg News points out that securities fraud could result in as much as 20 years in prison and conspiracy comes with a five-year maximum prison sentence. In the meantime, Gupta may remain free on bail until his sentencing on October 18th, according to the report.