Lawyers for former Goldman Sachs Group Inc board member
Rajat Gupta are urging a federal appeals court to reverse his insider trading
conviction, arguing that a judge shouldn't have allowed wiretaps to be heard at
trial. In a brief filed Friday at the
2nd U.S. Circuit Court of Appeals in New
York , Gupta's lawyers argued wiretaps of
now-imprisoned hedge fund manager Raj Rajaratnam amounted to "hearsay statements"
and should not have been presented to the jury.
"Without a proper basis for admission, these
untestable, unreliable hearsay statements had no place in a criminal trial, and
their admission alone compels reversal," Gupta's lawyers wrote.
A federal jury convicted Gupta, 64, in June of leaking
Goldman boardroom secrets to Rajaratnam, the Galleon Group hedge fund manager
at the center of a wide-ranging U.S.
probe into insider trading. Gupta, who
was at one time head of management consultancy McKinsey & Co, was sentenced
by U.S. District Judge Jed Rakoff to two years in prison. The 2nd Circuit in
December said Gupta could remain free on bail while he appeals his conviction.
A trial is scheduled to begin February 11 in a separate
civil lawsuit by the U.S. Securities and Exchange Commission.
Wait…wait…there’s more at http://www.reuters.com/article/2013/01/22/us-gupta-appeal-idUSBRE90L0QW20130122
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