Insider trading scam: US prosecutors oppose Rajat Gupta’s plea to remain free on bail

In a memorandum submitted yesterday by US Attorney in Manhattan Preet Bharara and federal prosecutors Reed Brodsky and Richard Tarlowe, the government said Gupta’s request for a stay of his surrender date and release pending appeal should be denied.

The prosecutors said Gupta “poses a risk of flight” due to his “strong ties overseas, including assets, family, and close friends in India and elsewhere, his incentive to flee after sentencing, his substantial means and his demonstrated disrespect for the law and capacity for deceit.”

via Insider trading scam: US prosecutors oppose Rajat Gupta’s plea to remain free on bail – The Economic Times.