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US court signals Rajat Gupta's insider trading conviction unlikely to be overturned

Gupta was released from federal custody in March after being sentenced to two years in prison

Reuters  |  New York 

A US appeals court on Wednesday signalled it was unlikely to overturn the 2012 insider trading conviction of Rajat Gupta, a former director of Goldman Sachs Group Inc and global managing director of McKinsey & Co. During arguments before the 2nd US Circuit Court of Appeals in New York, a lawyer for Gupta argued that jurors were given improper instructions in light of a major 2014 appellate ruling that limited the reach of insider trading laws. Prosecutors had accused Gupta, 67, of passing tips to hedge fund manager Raj Rajaratnam about Goldman's financial results and a ...

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First Published: Thu, November 17 2016. 08:53 IST