News Summary: Insider penalty draws scrutiny

Associated Press

THE SENTENCE: A two-year prison sentence for insider trading at the height of the 2008 economic crisis, by a man who was once one of the nation's most respected business executives, is a fifth of the 10 years requested by the government and well below sentencing guidelines.

JUDGE'S VIEW: Judge Jed Rakoff described the sentence and $5 million fine given to former Goldman Sachs and Procter & Gamble Co. board member Rajat Gupta, 63, on Wednesday as sufficient to deter others and properly punish the Westport, Conn., resident.

THE DISSENTS: Some legal observers did not agree and thought the sentence should have been closer to the 10 years prosecutors had recommended.

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