Connect with us

News

Preet Bharara: Rajat Gupta’s Plea to Overturn Conviction should be rejected

Published

on

rajat_gupta_trial

NEW YORK (Diya TV) — Prosecutors argued that the pleas of former Goldman Sachs director Rajat Gupta to have his conviction of insider trading overturned be rejected. They’ve insisted Gupta received a fair trial and was convicted by an impartial jury for his “criminal conduct,” they told an appeals court.

Indian American U.S. Attorney for the Southern District of New York Preet Bharara wrote as such in a lengthy brief filed with the U.S. Court of Appeals for the Second Circuit filed this month. Gupta’s perpetual tipping of his business partner Raj Rajaratnam with material non-public information in “ways that furthered Gupta and Rajaratnam’s shared financial interests” remains “criminal” and he is “not actually innocent.”

He added Gupta’s appeals from an order denying his motion to vacate, set aside, or correct his sentence should be rejected and he is not entitled to the relief he seeks.

In May, the 66-year-old Gupta filed an exhaustive brief in the appeals court — he argued that the judgment of the Manhattan district court finding him guilty of insider trading “should be reversed” and his “conviction should be vacated.”

His appeal was filed in the immediate shadow of an historic ruling by the Manhattan appeals court that for an insider trading, prosecutors must show that a defendant received a personal benefit for passing illegal tips. Examples can be found in the reversals of a convictions of insider trading in hedge-fund managers Todd Newman and Anthony Chiasson in 2014, Gupta’s lawyers argued.

However, opining there is no legal basis to overturn the conviction, Bharara said the jury convicted Gupta for “repeatedly and brazenly” disclosing material non-public information to Rajaratnam in violation of the fiduciary duties Gupta owed to Goldman Sachs and Procter and Gamble, companies on whose boards of directors he served.

“This conduct, which was motivated by Gupta’s substantial financial entanglements with Rajaratnam and his multi-billion dollar hedge fund, is as criminal today as it was before Newman,” Bharara said.

“Gupta received a fair trial before a properly instructed jury; that jury simply agreed with the government’s evidence of guilt, rejected Gupta’s proffered defenses and convicted Gupta for the conduct he committed. There is no legal basis to disturb that verdict,” he said.

Bharara additionally noted that at no point did the District Court instruct the jury to convict Gupta based on a Newman-invalidated “mere friendship” theory of benefit.

“Indeed, the ‘friendship’ does not appear in the jury instructions at all. The District Court instead instructed the jury that tipping in furtherance of Gupta’s good and frequent business relationship with Rajaratnam would suffice under the law. Newman says nothing to the contrary,” he said.

News

Shrina Kurani announces CA congressional campaign

Published

on

Shrina Kurani announces CA congressional campaign | Diya TV News

SACRAMENTO (Diya TV) — Indian American Democrat Shrina Kurani is running for Congress in California’s 42nd district and is preparing to take on 15-year Republican incumbent Ken Calvert. Kurani is a mechanical engineer and entrepreneur and says she’s running to create more sustainable jobs in her community and to take on the status quo in Washington DC.

More than 30 interfaith organizations in the U.S. are urging the State Department to sanction India and designate it as a country of “particular concern”. Their resolution claims that the Indian government is promoting policies that lead to the persecution of religious minorities, especially Muslims.
Despite growing concern over rising Covid-19 cases in Japan, the 2021 Tokyo Olympic opening ceremony got underway. India is sending its largest ever contingent to the Olympics with120 athletes competing across 85 events.  The country hopes to win medals for shooting, wrestling, boxing, archery and badminton.

Ravi Kapur contributed to this report.

Continue Reading

News

Nearly 200,000 ‘Documented Dreamers’ appeal to Congress for help

Published

on

Nearly 200,000 'Documented Dreamers' appeal to Congress for help | Diya TV News

WASHINGTON DC (Diya TV) — With no clear path to citizenship and facing deportation, younger Indian Americans who have aged out of their parents’ visas are now appealing to lawmakers for help. The Migration Policy Institute says about 190,000 kids and young adults will be in this situation once they turn 21 years old. Some of them have now formed a coalition saying it’s time to address this ongoing issue.

Electronic signature platform DocuSign appointed Indian American Shanthi Iyer as its new Chief Information Officer. Iyer spent more than 20 years at Cisco and will lead Docusign’s efforts to improve employee productivity and the customer experience.

And Indian start-up SimSim has been acquired by Youtube. The company helps small businesses connect with social media influencers and customers. The exact terms of the deal were not disclosed but insiders say the company was valued at more than $70 million.

Ravi Kapur contributed to this report.

Continue Reading

News

Indian photojournalist Danish Siddiqui killed in Afghanistan

Published

on

Indian photojournalist Danish Siddiqui killed in Afghanistan | Diya TV News

KANDAHAR (Diya TV) — Pulitzer Prize-Winning photographer Danish Siddiqui was killed while covering a clash between Afghan security forces and Taliban fighters in Afghanistan. The 38 year old Indian national was Reuters news agency’s chief photographer in India. Siddiqui was credited for capturing some of the most powerful images during the Covid-19 pandemic.

17-year-old Indian-American Samir Banerjee clinched the junior Wimbledon singles tennis title. Celebrating Samir’s achievement, many Indians took to social media to congratulate the youngster.

Jeff Bezos blasted off into space Tuesday on his Blue Origin rocket ship. It was the company’s first flight with people on board.  Bezos is now the second billionaire in just over a week to ride his own spacecraft. The Amazon founder was accompanied by his brother, an 18-year-old from the Netherlands and an 82-year-old aviation pioneer from Texas — the youngest and oldest to ever fly in space.

Ravi Kapur contributed to this report.

Continue Reading

Trending

Diya TV , Inc. © 2017 All Rights Reserved