Rajat Gupta’s Daughter Testifies at His Insider Trading Trial – NYTimes.com.
Geetanjali Gupta’s education at Harvard Law School may not have included a class on how to testify, but she was poised and articulate in answering questions on the witness stand on Tuesday at her father’s criminal trial.
Ms. Gupta was among the final defense witnesses in the trial of Rajat K. Gupta, the onetime head of the consulting firm McKinsey & Company. The government has accused Mr. Gupta, a former director of Goldman Sachs and Procter & Gamble, of leaking boardroom secrets from those two companies to Raj Rajaratnam, the fallen hedge fund titan convicted of insider trading last year.
Lawyers for Mr. Gupta rested their case without calling him to testify in his own defense. On Friday, Mr. Gupta’s lawyers said it was “highly likely” that their client would take the stand, but they reversed course over the weekend.
The defense’s case amounted to 12 witnesses, many of whom were called to tell the jury about Mr. Gupta’s integrity and honesty. Several of them worked closely with Mr. Gupta, 63, on his extensive efforts to combat AIDS, tuberculosis and malaria.
Other witnesses testified about acrimony that had developed between Mr. Rajaratnam and Mr. Gupta. A crucial component of the defense is that the two men had a falling out in the fall of 2008 after Mr. Gupta lost his entire $10 million investment in a fund run by Mr. Rajaratnam. As a result, the defense has argued, Mr. Gupta had no incentive to pass tips Mr. Rajaratnam during that period.
Mr. Gupta’s dispute with Mr. Rajaratnam was the focus of Ms. Gupta’s testimony.
She told the jury about a conversation that she had with her father in September 2008, a period of great turmoil in the financial markets. She said that while in the library of her parent’s house in Westport, Conn., Mr. Gupta talked about the difficulties related to an investment that he had with Mr. Rajaratnam.
“He was upset,” Ms. Gupta said. “He was stressed, running his hand through his hair, and he is usually a very calm and collected person.”