Goldman paid bulk of Rajat Gupta's legal fees: NYT

Gupta, a consummate business insider who also sat on the board of Procter & Gamble, was convicted on Friday of leaking secrets about Goldman at the height of the financial crisis, a major victory for prosecutors seeking to root out illicit trading on Wall Street.

Procter & Gamble also paid some of the USD 30 million in legal fees, the paper reported.

Under a deal reached before the trial, Gupta agreed to reimburse Goldman for the legal costs if he were convicted, the New York Times said.

However, the investment bank must continue to pay the bills until Gupta's appeal, which may take a couple of years, the paper reported.

Goldman did not immediately respond to a request for comment. Procter & Gamble and Gupta's lawyers could not be reached for comment outside regular US business hours.