GUPTA TRIAL Verdict

Very emotional reaction by the family. They have attended the trial almost every day. The wife put her head on the rail and the girls wept and sobbed holding each other. Gupta sat stoically as the guilty charges were read.

After the jury and the judge left the bench, Gupta went over to his family and consoled them with a hug.
As I saw the jurors walk out of the courtroom,  some of them had tears in their eyes and I even heard  a few sniffles from the press section.
Very different from the Rajaratnam verdict, the Raj jury was out for twelve days, his family never came to court and Raj showed little emotion when the verdict was read.

Here is the YouTube video that contains the Rajartnam trial pictures, from start to finish.
http://www.youtube.com/watch?v=FCo_bOvcFxQ

Gupta verdict story link

http://www.thedailybeast.com/articles/2012/06/15/rajat-gupta-was-found-guilty-of-insider-trading-in-less-than-a-day.html

http://dealbook.nytimes.com/2012/06/15/rajat-gupta-convicted-of-insider-trading/

http://online.wsj.com/article/SB10001424052702303822204577468470878668722.html

http://www.businessinsider.com/jurors-on-the-rajat-gupta-insider-trading-trial-were-crying-after-the-verdict-was-read-2012-6

GUPTA TRIAL Jury Deliberations Day One

Judge Rakoff gave the jury their instructions first thing in the morning and then they deliberated for the rest of the  day. The jury picked their foreman and then sent a few substantive notes to the judge in the afternoon. One  note asked for clarification on the count of conspiracy and the other was for parts of Michael Cardillo's testimony.

story link:

http://www.bloomberg.com/news/2012-06-14/gupta-insider-trading-jury-begins-deliberations.html

http://dealbook.nytimes.com/2012/06/14/jurors-begin-deliberations-in-insider-trading-trial/

After the notes were sent out, the lawyers got to work on finding the documents, the defense appeared somewhat nervous.

GUPTA TRIAL DAY SIXTEEN Closing Statements

The day was taken up with closing statements from both sides, prosecution and defense.

AUSA Richard Tarlowe gave the prosecution's closing first.  Here is an excerpt from the AP report:
Rajat Gupta "abused his position as a corporate insider," Assistant U.S. Attorney Richard Tarlowe said in federal court in Manhattan. "Gupta violated his duty to keep that information confidential by giving that information to Raj Rajaratnam,"




Then Gary Naftalis gave his closing statement for the defense. Here is an excerpt from the AP report,
In his closing argument, defense attorney Gary P. Naftalis sought to convince the jury that there was "zero" evidence that Gupta profited from his own illegal trades or from kickbacks off trades by others — "the stuff a real insider trading case is all about."
story link below

http://abcnews.go.com/US/wireStory/prosecutor-goldman-board-member-abused-position-16557371#.T99VpBdfGU0

Finally late in the day, AUSA Reed  Brodsky gave the prosecution rebuttal argument.
The judge asked the jury if they wanted to stay past 5pm today, they declined the offer.

story link
http://online.wsj.com/article/SB10001424052702303734204577464370988452992.html

http://www.usnews.com/news/business/articles/2012/06/13/closing-arguments-at-nyc-insider-trading-trial

http://www.businessweek.com/news/2012-06-13/gupta-abused-role-prosecutor-says-in-closing-argument