Ex-Goldman director fails in appeal to overturn insider trading conviction

Former Goldman Sachs director Rajat Gupta, serving a two-year prison term, has failed to persuade a federal appeals court to overturn his insider trading conviction.

Reuters reports that in a brief order, the full 2nd U.S. Circuit Court of Appeals in New York refused on Monday to disturb a March 25 decision by a three-judge panel of that court to let the June 2012 conviction stand. It did not explain its reasoning.

Gupta, 65, challenged the government's use of wiretap evidence against him, as well as the jury instructions by U.S. District Judge Jed Rakoff in Manhattan, who oversaw his trial.

Gupta may still appeal to the U.S. Supreme Court. He has also been fined millions of dollars.

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Ex-Goldman director Rajat Gupta fails to void conviction

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