Ex-Goldman Director says conviction should now be thrown out

Prison Bars

Former Goldman Sachs director Rajat Gupta said his insider-trading conviction should be thrown out because prosecutors failed to prove their case under a sweeping appeals court ruling last year.

Bloomberg News reports that now serving a two-year prison sentence for insider trading, Gupta claimed the government didn't show he got a personal benefit for passing tips to billionaire friend Raj Rajaratnam.

Prosecutors must prove that element, the U.S. Court of Appeals in New York ruled in December, in a blow to a series of cases won by Manhattan U.S. Attorney Preet Bharara.

Gupta, 66, also a former McKinsey & Co. Managing Partner, is the highest-profile executive convicted in the U.S. crackdown on insider trading at hedge funds and lost earlier bids to reverse the 2012 verdict.

To access the complete Bloomberg News article hit the link below:

Ex-Goldman Director Gupta Says Conviction Should Be Tossed

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