New York: Lawyers for former Goldman Sachs Group Inc board member Rajat Gupta sought to reverse his insider-trading conviction on Tuesday, arguing that wiretap evidence used by the prosecution should not have been introduced at trial.
Defense lawyer Seth Waxman told the 2nd US Circuit Court of Appeals in New York that wiretaps played for the jury were inadmissible because they amounted to hearsay evidence.
Gupta himself was not heard on the wiretaps, which are instead conversations between convicted Galleon Group manager Raj Rajaratnam and other employees at the hedge fund.
"Those wiretaps should never have been admitted," Waxman told a three-judge panel of the appeals court....
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07:04 AM, May 22, 2013
New York: India-born former Goldman Sachs director Rajat Gupta will seek overturning of his insider-trading conviction in a US court today by arguing that the case rested exclusively on circumstantial evidence that relied on wiretap statements that did not involve him. The US Court of Appeals for the Second Circuit in New York will hear arguments from Gupta, who was convicted last year of sharing corporate secrets and is on...
10:27 PM, May 21, 2013
A federal judge on Monday ordered former Goldman Sachs Group Inc director Rajat Gupta to reimburse $6.22 million to help the Wall Street bank cover its legal expenses related to his criminal insider trading case. ...
06:03 AM, Feb 26, 2013
A tragedy of Greek proportions, this is the story of an Indian icon at the centre of the biggest insider trading case in the history of the United States of America. On 24 October 2012, Rajat Gupta, former head of the worlds most respected management consultancy firm, McKinsey & Co., was sentenced to two years in prison by a New York court for securities fraud and insider trading. Why did...
06:18 PM, Feb 25, 2013
Lawyers for former Goldman Sachs Group Inc board member Rajat Gupta are urging a federal appeals court to reverse his insider trading conviction, arguing that a judge shouldn't have allowed wiretaps to be heard at trial. ...
01:40 AM, Jan 23, 2013
US hedge fund manager Raj Rajaratnam has agreed to pay disgorgement of about $1.5 million in a civil lawsuit filed by the Securities and Exchange Commission, and to waive his right to appeal the judgment, court papers showed. Rajaratnam would make the payment, representing the profits obtained by unlawful means, to the SEC within 90 days after the entry of the final judgment in court records, according to a filing....
12:57 PM, Dec 27, 2012
New York: Former Goldman Sachs Group Inc board member Rajat Gupta can remain free on bail while he appeals his insider-trading conviction, an appeals court ruled on Tuesday. Gupta had been scheduled to surrender on January 8 to start a two-year prison sentence. But after hearing arguments from Gupta's lawyer and prosecutors, a two-judge panel of the 2nd US Circuit Court of Appeals in New York granted Gupta's request to...
02:47 AM, Dec 05, 2012
New York: A US court has agreed to hear next week a bid by India-born former Goldman Sachs Director Rajat Gupta to delay his surrender to federal prison and remain free on bail while he challenges his conviction on insider-trading charges. The Court of Appeals for the Second Circuit in New York said arguments on the motion filed by Gupta for a stay of his January 8 surrender date and...
11:29 AM, Nov 29, 2012
New York: The US government has asked a court in New York to slap a maximum penalty of $15 million on India-born fallen Wall Street titan Rajat Gupta and permanently bar him from serving as director of any publicly-traded firm for his "terrible breach of trust" by indulging in insider trading. Weeks after the former Goldman Sachs Director was handed down a two-year jail term and fined $5 million by...
09:38 PM, Nov 16, 2012
This week on World View with Suhasini Haidar we take a detailed look at the Rajat Gupta sentencing, 10-day countdown to US Elections:, highlights of 3rd Obama-Romney debate. ...
02:38 PM, Oct 26, 2012
Mumbai: Industrialist Rahul Bajaj on Thursday welcomed the relatively lenient two-year jail term which a US court awarded to former McKinsey head Rajat Gupta for insider trading. "Under the American law, there was no way his request for community service without going to jail (would have been accepted). We knew he will go to jail...two years is a light sentence and we must thank the judge," the Bajaj Auto chairman...
10:47 PM, Oct 25, 2012
Rajat Gupta, a former Goldman Sachs and Procter & Gamble Company board member, was sentenced on Wednesday to two years in prison for feeding inside information about board dealings with a billionaire hedge fund owner who was his friend. ...
09:33 PM, Oct 25, 2012
New York: It's a fall from grace for a man who had built himself a reputation as a humanitarian. Fallen Wall Street tycoon Rajat Gupta was sentenced to two years in prison on Thursday and a five million dollar fine was imposed for securities fraud and insider trading, the judge, refusing to be lenient despite appeals from influential people like Bill Clinton, Bill Gates and Kofi Annan. In the end,...
06:38 PM, Oct 25, 2012
New York: US District Court Judge Jed Rakoff, who sentenced Rajat Gupta, the former Goldman Sachs and Procter & Gamble Co. board member once widely respected worldwide for his business smarts, to two years in prison and also ordered him to pay a $5 million fine, on multiple occasions gave Gupta credit for his life of philanthropic works. He said at the heart of Gupta's offences is his "egregious breach...
10:40 AM, Oct 25, 2012
Rajat Gupta, 63, of Westport, Conn., was sentenced by US District Court Judge Jed Rakoff, who also ordered him to pay a $5 million fine. ...
08:49 AM, Oct 25, 2012
A former Goldman Sachs and Procter & Gamble Co. board member once widely respected worldwide for his business smarts was sentenced on Wednesday to 2 years in prison for feeding inside information about board dealings with a billionaire hedge fund owner who was his friend. ...
08:41 AM, Oct 25, 2012
New York: The sentencing on Wednesday of fallen Wall Street titan Rajat Gupta for insider trading could come down to whether a judge agrees that his lifetime of charity counts against sending him to prison. The former Goldman Sachs Group Inc (GS.N) board member was convicted in June of leaking boardroom secrets to hedge fund manager Raj Rajaratnam, his friend and former business associate, at the height of the financial...
12:10 PM, Oct 24, 2012
Former Goldman Sachs director Rajat Gupta will be sentenced in New York on Wednesday by a US judge on insider trading charges. ...
09:23 AM, Oct 24, 2012
New York: Former Goldman Sachs director Rajat Gupta will be sentenced in New York on Wednesday by a US judge on insider trading charges a year after the Indian-American Wall Street executive was charged with passing boardroom secrets to the now imprisoned hedge fund founder Raj Rajaratnam. The Prosecution has sought a prison term of 8-10 years for the 63-year-old Gupta who was convicted by a jury in June this...
07:52 PM, Oct 23, 2012
New York: Former Goldman Sachs Group Inc board member Rajat Gupta deserves to spend eight to 10 years in prison for his "shocking" insider-trading crimes, US prosecutors said in court papers on Wednesday. Gupta, who is also a former head of management consultancy McKinsey & Co, is set to be sentenced on October 24 in US District Court in Manhattan. He was found guilty in June of leaking Goldman boardroom...
09:06 AM, Oct 18, 2012
