An India-origin executive pocketed over $250,000 by cheating the system in the US. He took an unfair advantage of having inside information before finally getting busted by the authorities.
Dishant Gupta, a 41-year-old pharma executive in Boston, was sentenced to two months in prison, one year of supervised release, and got a fine of $20,000 in addition to losing more than $260,000 in ill-gotten profits.
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Gupta used his position as Director at a global pharmaceutical company to steal inside information about a major deal. His company was preparing to buy out a smaller rival, including its valuable cancer drug, which would have skyrocketed the rival’s stocks.
As the information wasn’t public, he was the first to act and bought 300,000 shares of the rival company in both his and his wife’s accounts. As expected, once the deal was confirmed, he sold the shares, illegally pocketing a huge profit.
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The Indian-origin man took an unfair advantage of his power and trust from the company. However, the US Securities and Exchange Commission, backed by the FBI’s Boston Division, ensured Gupta didn’t get away with it.
While he pleaded guilty in October 2024, the court passed the final sentence on January 30, 2025.
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