Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Portfolio > Alternative Investments > Hedge Funds

Rajat Gupta loses bid to overturn insider-trading conviction

X
Your article was successfully shared with the contacts you provided.

(Bloomberg) — A federal judge rejected former Goldman Sachs Group Inc. director Rajat Gupta’s request to throw out his insider-trading conviction and prison sentence.

Gupta was convicted in 2012 of passing illegal tips to Raj Rajaratnam, a co-founder of the Galleon Group LLC hedge fund.

After unsuccessfully pursuing an appeal up to the U.S. Supreme Court, Gupta asked U.S. District Judge Jed Rakoff, who had presided over his trial, to reject the jury’s verdict in light of later court rulings that make it harder for prosecutors to prove insider trading.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.