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Ex-Goldman director Rajat Gupta fails to void conviction

Published on Jul 15, 2014 6:15 AM
Former Goldman Sachs Group Inc director Rajat Gupta departs Manhattan Federal Court after being sentenced in New York on Oct 24, 2012. -- PHOTO: REUTERS

NEW YORK (REUTERS) - Former Goldman Sachs Group director Rajat Gupta, serving a two-year prison term, has failed to persuade a federal appeals court to overturn his insider trading conviction.

In a brief order, the full 2nd US Circuit Court of Appeals in New York refused on Monday to disturb a March 25 decision by a three-judge panel of that court to let the June 2012 conviction stand. It did not explain its reasoning.

Gupta, 65, challenged the government's use of wiretap evidence against him, as well as the jury instructions by US District Judge Jed Rakoff in Manhattan, who oversaw his trial.

Lawyers for Gupta Gary Naftalis and Seth Waxman were not immediately available for comment.

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