Ex-Goldman boss Rajat Gupta won't testify in insider trading trial
Stephen Foley is a former Associate Business Editor of The Independent, based in New York. He left in August 2012. In a decade at the paper, he covered personal finance, the UK stock market and the pharmaceuticals industry, and had also been the Business section's share tipster. Between arriving with three suitcases in Manhattan in January 2006 and his departure, he witnessed and reported on a great economic boom turning spectacularly to bust. In March 2009, he was named Business and Finance Journalist of the Year at the British Press Awards.
Tuesday 12 June 2012
Rajat Gupta will not take the stand in his own defence this week, as the former Goldman Sachs director's trial on insider dealing charges heads towards a conclusion.
His lawyers had previously said it was "highly likely" that Mr Gupta would testify in a bid to clear his name.
Mr Gupta was also a director of Procter & Gamble, having taken on non-executive directorships following a long and distinguished career as a management consultant at McKinsey & Co.
His trial follows last year's jailing of Raj Rajaratnam, founder of the Galleon hedge fund, who was convicted of illegal trading on information about profit warnings and fundraisings at Goldman, provided in telephone calls from Mr Gupta.
Mr Gupta's case is that he did not provide any secret information or profit from insider trading, and his lawyers will put character witnesses on the stand to try to persuade the jury of his integrity.
- 1 Emma Watson on Jennifer Lawrence naked photo leak: 'Even worse than seeing women's privacy violated is reading the comments'
- 2 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Cee Lo Green: It is only rape if the victim is conscious
- 5 Katie Hopkins breaks down in tears over weight gain challenge: ‘I hate fat people for making me do this’
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ashya King: 'Cruel NHS has not given us the treatment we need', says father of five-year-old with brain tumour who fled to Spain
iJobs Money & Business
£30000 - £45000 per annum + benefits+bonus+package: Harrington Starr: Front-Of...
£700 per day: Harrington Starr: Quantitative Developer C++, Python, STL, R, PD...
£700 per day: Harrington Starr: Java/Calypso Developer Java, Calypso, J2EE, J...
£500 per day: Harrington Starr: SQL Developer SQL, C#, Stored Procedures, MDX...