Sunday, 24 May 2015
Last updated 1 day ago
Mar 26 2014 | 10:40am ET
A federal appeals court in New York has rejected former McKinsey & Co. chief Rajat Gupta’s bid for a new trial.
Gupta was convicted in 2012 of passing tips about Goldman Sachs—where he served as a director—to Galleon Group founder Raj Rajaratnam. The jury in that case heard wiretapped conversations in which Rajaratnam, who has also been convicted of insider-trading, boasted about an unnamed Goldman insider feeding him information. Prosecutors had no tapes of talks between Rajaratnam and Gupta himself.
Gupta’s lawyers told the U.S. Second Circuit Court of Appeals that the wiretaps should not have been admitted in the trial. But none of the three judges on the panel hearing the appeal agreed, unanimously rejecting Gupta’s request for a new trial.
“We conclude that none of the challenged rulings constituted an abuse of the court’s discretion and that a new trial is unwarranted,” U.S. Circuit Judge Amalya Kearse wrote. The court added that there was “ample evidence” that Gupta was part of a criminal conspiracy involving Rajaratnam.
It is unclear whether Gupta plans to appeal the Second Circuit panel’s decision. Sentenced to two years in prison, he currently remains free on bail.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…