Ex-Goldman Director Wins Hearing on Bid for Freedom During Appeal

Jail

Former Goldman Sachs director Rajat Gupta was granted a rare hearing before a federal appeals court in New York next month for his challenge to an order that he begin his prison sentence in January.

Bloomberg reports that Gupta, 63, has asked to remain free while he appeals his insider-trading conviction and delay his January 8th surrender to federal prison. The U.S. Court of Appeals in Manhattan said Thursday that he has been granted a hearing on December 4th.

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.

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Gupta Wins Hearing on Bid for Freedom During His Appeal

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