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Rajat Gupta

Judge rejects ex-Goldman board member's bid for exoneration

An ex-Goldman Sachs and Procter & Gamble board member was told Thursday that he can't use a court's ruling in another case to nullify his insider-trading conviction. U.S. District Judge Jed Rakoff in Manhattan rejected Rajat Gupta's request that he be allowed to piggyback on a federal appeals court's ruling that wiped out the insider-trading convictions of two financiers in December. He called the request "both too late and too little." Gupta, 66, of Westport, Connecticut, is serving a two-year prison term after his 2012 conviction on conspiracy and securities fraud charges. Prosecutors say he fed tips about Goldman to Raj Rajaratnam, a one-time billionaire...

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