Ex-Goldman exec seeks insider trading retrial - Los Angeles News | FOX 11 LA KTTV

Ex-Goldman exec seeks insider trading retrial

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NEW YORK (AP) - A lawyer for a former board member at Goldman Sachs and Procter & Gamble Co. has told a federal appeals court that his client deserves a new trial.

Attorney Seth Waxman told the 2nd U.S. Circuit Court of Appeals on Tuesday that Rajat Gupta never got a fair chance to prove his innocence. The three-judge panel did not immediately rule.

Assistant U.S. Attorney Richard Tarlowe told the judges that Gupta's trial was fair.

Gupta was sentenced last year to two years in prison for providing stock tips to a wealthy Manhattan hedge fund founder.

The Harvard-educated businessman and Westport, Conn., resident attended the appeals arguments.

Waxman said the trial judge improperly disallowed testimony by Gupta's daughter that would have helped his case.

The government said "overwhelming evidence" doomed Gupta.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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