New York: India-born former Goldman Sachs director Rajat Gupta's appeal against his insider trading conviction for passing on tips to hedge fund billionaire Raj Rajaratnam was on Tuesday rejected by a US federal appeals court here.

There was "ample evidence" that Gupta was involved in a criminal conspiracy to share confidential information related to Goldman with Rajaratnam, the US Court of Appeals for the Second Circuit said in a 3-0 decision.