Former Goldman Sachs Group Inc. director Rajat Gupta was sentenced to two years in federal prison for leaking corporate secrets about the bank to a hedge fund at the height of the financial crisis.

The prison term imposed by U.S. District Judge Jed Rakoff in Manhattan marks a nadir for Mr. Gupta, who became the most prominent figure caught in the push against insider trading by criminal authorities. He was implicated in 2010 in the investigation of former Galleon Group chief Raj Rajaratnam, his friend and business associate.

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