From Bloomberg (not one word has been changed): Former Goldman director Rajat Gupta is set to ask a federal
appeals court in New York today to overturn
his insider-trading conviction by arguing the U.S. shouldn’t have been allowed to
use evidence from wiretapped phone calls that didn’t involve him.
Gupta has already been handed one victory from the 2nd
Circuit Court of Appeals, which will hear today’s arguments. In December, it
allowed him to remain free while he fought his conviction. The court had
overturned U.S. District Judge Jed Rakoff’s ruling ordering Gupta to surrender
to prison authorities on Jan. 8 and begin serving his two-year sentence.
Gupta, 64, who was a managing partner at McKinsey & Co.,
and a director at Procter & Gamble Co., was convicted by a jury in June of
one count of conspiracy and three counts of securities fraud. He was accused of
passing illegal information about New York-based Goldman Sachs to Galleon Group
LLC co-founder Raj Rajaratnam, his friend and business partner.
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