U.S. District Judge Jed Rakoff in Manhattan last month sentenced Gupta to two years in prison, rejecting his request to remain free pending appeal. Prosecutors objected after Gupta asked the appeals court to postpone his surrender date.
Gupta, who is free on $10m bond, argued that he is likely to win a reversal of his conviction.
'The prosecution’s theory in this case was that after a‘lifetime of good deeds and philanthropy’ and while ‘at the pinnacle of his profession’ Gupta decided to throw everything away and -for no tangible benefit - tip hedge fund manager Raj Rajaratnam', his lawyers Seth Waxman and Gary Naftalis said in court papers.
Hit the link below to access the complete Bloomberg article:
Gupta Wins Hearing on Bid for Freedom During His Appeal
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