The sentencing of former McKinsey head Rajat Gupta hasn't happened as yet. But the speculation certainly has, both as to what it might be and if that whatever will be fair. Gupta was the biggest fish, in terms of establishment credentials, caught in the net of the federal prosecutors going after insider trading.
Today in THE WALL STREET JOURNAL, Michael Rothfeld opines that the sentence will probably not be as long as those given some of the other miscreants. That opens the door to speculation as to what kind of signal then the legal system is sending to others who might be tempted to participate in insider trading.
There is also the issue that Gupta maintained his innocence, therefore showed no remorse for what he had done. In the American legal system, it's the ritual to admit one has been very wrong and ask the mercy of the court. Sure, Gupta is a classy guy who had accomplished a lot. He was also a philanthropist. However, letting him off easy will not reassure investors that the equities are now safe to invest in. So much money has been pulled out of equities since the extent of inside trading was made known.