According to FierceFinance the April 9 insider trial of former Goldman Sachs director Rajat Gupta might prove a seismic event, outdrawing even the Raj Rajaratnam trial, which ended in a spectacular victory for prosecutors.
Gupta, a former head of McKinsey, ranks as the most prominent executive charged with insider trading in the still unfolding investigations. The skirmishing has stepped up already in 2012, with lots of tactical procedural moves in the works. Among other things, Gupta's legal team would like to throw out the wiretap evidence, which has been so effective in previous trial.
It's fair to say that the case against Gupta would be dealt a big blow if the wiretaps were not allowed as evidence, unless Rajaratnam himself were to take the stand for the prosecution and testify directly about the insider information he allegedly received from his one-time friend Gupta. I doubt that will happen. Bloomberg suggests the two men have been estranged since 2008 when a Gupta investment with Rajaratnam fell apart.
Bloomberg also notes that part of Gupta's strategy is to impugn Rajaratnam truthfulness. They'll most likely have to destroy his credibility to win….
Read more at http://www.fiercefinance.com/story/rajat-gupta-trial-looms-seismic-event/2012-01-05?utm_medium=nl&utm_source=internal
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