Friday, June 15, 2012

Gupta Convicted On Some Counts & Acquitted On Others

Peter Lattman & Azam Ahmed, NYTimes, Rajat Gupta Convicted of Insider Trading

Patricia Hurtado & David Glovin, Bloomberg, Ex-Goldman Director Rajat Gupta Convicted of Insider Trading 

AP, Ex Goldman Sachs director Rajat Gupta convicted


Insider Trading, News, SEC, Securities, Verdict | Permalink

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I wonder if you could comment on this trial. I find it very disturbing.
There is ONLY circumstantial evidence and hearsay. And even that was very open to interpretation.

Mr. Gupta did not profit. There were at least 4 leakers in the firm. Goldman has been proved to be involved with racketeering with hedge funds, some of whom were probably being tipped off by the same Goldman tipsters, whose actions were blamed on Gupta.

Yet, Rakoff wouldn't allow the jury to bring in testimony, claiming it was hearsay, while allowing the prosecution's hearsay evidence.

Very very strange. Rakoff was also involved in some other cases that were considered unusual.
Can you blog on the reaction among defense lawyers?

Posted by: Lila Rajiva | Jun 15, 2012 4:01:26 PM

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