Gupta suffers two big blows in his insider trading trialRead the full article here
By Reynolds Holding - (Reuters) The Globe and Mail
U.S. prosecutors have gained an early edge in Raj Gupta’s insider-trading trial. Judge Jed Rakoff largely adopted their version of a preliminary jury instruction a week after allowing them to introduce wiretap evidence. The former McKinsey & Co. boss and Goldman Sachs director hasn’t put on his defence yet. But he’ll need some breaks soon if he’s going to beat the insider trading rap.
A difficult case for the government got a lot easier when Mr. Rakoff said he would probably permit jurors to hear recordings of jailed insider-trader Raj Rajaratnam bragging about confidential tips from a Goldman friend, allegedly Mr. Gupta. And after just two days of testimony, the mini-winning streak continued with the jury instruction.
GoldmanSachs666 Message Board
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage". In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia
Monday, May 28, 2012
The following excerpt is an update on the on-going prosecution of Rajat Gupta for insider trading: