Early this week, the U.S. Supreme Court declined to look into an insider-trading conviction of an ex-director for Goldman Sachs Group, Inc, Rajat Gupta.
The justices didn’t leave any comment on their rejection of Gupta’s appeal on his 2012 conviction for carrying out lucrative insider tips regarding Goldman to a hedge fund owner.
Gupta explained that the trial court failed to carry out evidence of his good moral character as well as other testimony that lacked any motive of him coming such offense.
Once a highly respected corporate director in the country, Gupta was slapped with three counts of insecurities frauds and a single count of conspiring to passing inside information to Raj Rajaratnam, a Galleon Group hedge-fund founder, who is currently serving an 11-year sentence.
In the previous year, the federal Court of Appeals, maintained Gupta’s conviction, affirming the usage of wiretap recordings at the time of the trial. His last resort was to get the Supreme Court to hear the case.