Tuesday, June 26, 2012

ADAM SMITH SENTENCED Rajaratnam trial co-operating witness

Today star witness at the Rajaratnam Trial, Adam Smith was sentenced by Judge Jed Rakoff, who 
just presided over the Rajat Gupta trial. Smith was sentenced to two years probation and ordered to pay $105,300 for his participation in an insider trading scheme that helped Rajaratnam and his cohorts. 
Below is an illustration of him on direct examination by AUSA Andrew Michaelson at the Rajaratnam insider trading trial. He testified that after Raj was arrested he drove to his country house and disposed of his lap-top. It was surprising to see a person with such an educational pedigree admit to such things including giving tips and inside information to Rajaratnam on a regular basis.
On the board to the left of Smith there is an image of Rajat Gupta, a visual foretelling of the resulting indictment and conviction of Gupta.

Adam Smith testifying at the Rajaratnam Insider Trading Trial  April 2011 by Elizabeth Williams

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