US Rips Gupta's Bid To Remain Free During 2nd Circ. Appeal

Law360, New York (November 27, 2012, 1:24 PM EST) -- Federal prosecutors on Monday pushed back against former Goldman Sachs Group Inc. director Rajat Gupta's move to stay out of prison pending an appeal of his conviction for insider trading, saying Gupta's evidentiary challenges don't merit bail.

Gupta, a business luminary best known for his stint as first non-U.S. born leader of the multinational consultancy McKinsey & Co., was sentenced to two years in prison in October following his securities fraud conviction for passing tips from private Goldman board meetings to hedge fund founder Raj Rajaratnam....
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