Court rejects Rajat Gupta’s appeal, yet again

It’s less than three months for his prison term to end; however, former Goldman Sachs director Rajat Gupta has lost yet another chance for overturning his conviction on insider trading charges. His latest challenge was rejected by the US Second Circuit Court of Appeals yesterday.

In his appeal, Gupta (67) had argued that there was insufficient evidence at trial to prove that he received personal benefits from hedge fund founder Raj Rajaratnam in exchange for confidential Goldman Sachs information. Rajaratnam too is in jail presently.

"Appellant has not shown that 'jurists of reason would find it debatable whether the district court was correct in its procedural ruling' ...as to whether Appellant's claim was procedurally defaulted," said the ruling of Circuit Judges Susan Carney and Christopher Droney.

Gupta was sentenced to two years prison term, which would be ending in March 2016. He has filed several appeals since his conviction in June 2012, one even to the US Supreme Court, so that his conviction and prison term can be overturned, but to no avail.

Gupta, an IIT and Harvard alumnus, is presently serving his prison term in a federal prison in Ayer, Massachusetts.

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