News Column

Gupta Appeals Insider Trading Conviction

May 22, 2013


Former Goldman Sachs Group director Rajat Gupta asked a federal appeals court to overturn his insider-trading conviction, with his lawyer arguing that prosecutors shouldn't have been allowed at his jury trial to use secretly wiretapped calls in which he wasn't a participant.

Defence lawyer Seth Waxman also told a panel of three judges on the US Court of Appeals in New York yesterday the defence was hindered by not being able to put on testimony from the defendant's daughter about his state of mind prior to the alleged 2008 crimes.

Waxman said Gupta was prevented from presenting evidence that he'd been swindled by the friend and business partner, fund manager Raj Rajaratnam, to whom he was accused of giving illegal tips.

Gupta, his wife and four daughters all attended the hour-long hearing. - (Bloomberg)

(c) 2013 Irish Times. Provided by ProQuest LLC. All rights Reserved.

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Source: Copyright Irish Times 2013

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