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HindustanTimes Wed,20 Aug 2014

Rajat Gupta looks at US top court to evade jail

HT Correspondent, Hindustan Times  Washington, June 11, 2014
First Published: 23:20 IST(11/6/2014) | Last Updated: 23:25 IST(11/6/2014)

Former McKinsey head Rajat Gupta, convicted in 2012 in the Galleon insider trading case, has asked the US Supreme Court to let him remain free on bail while he appeals his conviction.

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Gupta is scheduled to begin his two-year jail term on June 17.

A federal appeals court in New York confirmed his conviction in March and it is now hearing a petition from him seeking a re-hearing of his case.

In court papers filed on Monday, Gupta has said if he were to start his jail term, he would have finished half of it by the time the Supreme Court ruled in his favour, of which he claimed he was certain. Gupta has claimed legal errors were made during his trial.

Gupta is the highest-ranking corporate executive found guilty of insider trading, while serving on the boards of Goldman Sachs and Proctor and Gamble.

A Manhattan jury found him guilty of passing inside information to Raj Rajaratnam, billionaire owner of hedge fund Galleon. Rajaratnam is serving a 11-year sentence separately.

In challenging his conviction, Gupta has questioned the validity of wiretaps used against him by prosecution and the trial judge’s refusal to let him present evidence of his good character before the jury.


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