Rengan Rajaratnam, brother of imprisoned hedge-fund founder Raj Rajaratnam, lost a bid to dismiss insider-trading charges or exclude wiretap evidence federal prosecutors want to use at his June trial, potentially giving the government more leverage to obtain a plea deal.
Rajat Gupta, the former Goldman Sachs Group Inc. director convicted in a 2012 insider trading scheme tied to the Galleon Group LLC hedge fund, agreed to surrender to prison authorities on June 17 to begin a two-year sentence, a federal judge in Manhattan said.
The insider-trading conviction of Rajat Gupta, who rose to the pinnacle of Wall Street as a Goldman Sachs Group Inc. director and McKinsey & Co. managing partner, was upheld today by a federal appeals court.
Rajat Gupta, the former Goldman Sachs Group Inc. director accused of feeding tips to Galleon Group LLC co-founder Raj Rajaratnam, was charged in an indictment that made him the highest-ranking executive arrested in a nationwide crackdown on insider trading.
Former Goldman Sachs Group Inc. director Rajat Gupta was indicted for conspiracy and securities fraud, making him the highest-ranking executive charged in a nationwide crackdown on insider trading centered on Raj Rajaratnam, co-founder of hedge fund Galleon Group LLC.
To U.S. prosecutors, former Goldman Sachs Group Inc. director Rajat Gupta is a Wall Street insider who fed secret tips to his business partner Raj Rajaratnam so the fund manager could reap millions in illicit profits.
Former Goldman Sachs Group Inc. director Rajat Gupta asked a federal appeals court to overturn his insider-trading conviction, with his lawyer arguing that prosecutors shouldn’t have been allowed at his jury trial to use secretly wiretapped calls in which he wasn’t a participant.
Former Goldman Sachs Group Inc. director Rajat Gupta’s breach of contract suit against the chief executive officer of private equity firm New Silk Route Partners was dismissed as moot by a federal judge.
Jury foreman Richard Lepkowski didn’t want to convict Rajat Gupta of insider trading. To him and other jurors, Gupta had lived a “story-book life” and “the American dream,” he said. In the end, though, the case was just too strong.