| NEW YORK
NEW YORK Dec 4 A U.S. appeals court on Tuesday
granted a bid by former Goldman Sachs Group Inc board
member Rajat Gupta to remain free on bail while he appeals his
A two-judge panel of the 2nd U.S. Circuit Court of Appeals
in New York granted Gupta's request following a hearing. Gupta
had been scheduled to surrender Jan. 8 to start a two-year
"Motion is granted," Circuit Judge Jose Cabranes said in a
ruling from the bench.
Gupta, 64, was convicted in June of leaking Goldman Sachs
boardroom secrets to Raj Rajaratnam, the hedge-fund manager at
the center of a U.S. government crackdown on insider trading
over the past four years.
U.S. District Judge Jed Rakoff in Manhattan sentenced Gupta
in October to two years in prison. Gupta has been free on $10
The 2nd Circuit had earlier denied Rajaratnam's similar bid
to remain free on bail pending his appeal, which was argued Oct.
25. Rajaratnam is serving an 11-year prison sentence.
The case is USA v. Rajat Gupta, 2nd U.S. Circuit Court of
Appeals, No 12-4448.