Ex-Goldman Director Says Taped Evidence Was Hearsay

Lawyers for former Goldman Sachs 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.

Reuters reports that defense lawyer Seth Waxman told the 2nd U.S. Circuit Court of Appeals in New York that wiretaps played for the jury were inadmissible because they amounted to hearsay evidence.

Rajat 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.

Gupta, 64, is a former head of the consultancy McKinsey & Co and a one-time board member at Goldman and Procter & Gamble Co . He was sentenced to two years in prison in October for spilling confidential information about Goldman to Rajaratnam, his one-time friend who is now serving 11 years in prison for insider trading.

Hit the link below to access the complete Reuters article:

US court studies wiretaps in ex-Goldman director's insider case

image: © World Economic Forum

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