Gupta Win Strengthens DOJ's Hand In Insider Trading Cases

By Ian Thoms (June 15, 2012, 7:05 PM EDT) -- In convicting former Goldman Sachs Group Inc. director Rajat Gupta of insider trading on Friday, federal prosecutors proved they could ensnare Wall Street's top brass even without their best evidence, a feat that may make defendants in other securities fraud cases less likely to take their chances at trial, experts say.

Prosecutors from the U.S. Attorney's Office for the Southern District of New York convinced a jury that Gupta passed confidential information from corporate board meetings to his friend Raj Rajaratnam, the now-imprisoned hedge fund founder at the center of the government's two-year crackdown on insider trading. And they did so...

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