The following excerpt is from United States v. Martoma, 869 F.3d 58 (2nd Cir. 2017):
The majority also notes that defendants convicted under the greatly-expanded "gift" rule will have the right to "appellate review of the sufficiency of the evidence of personal benefit." Op. at 73. In other words, persons dealing with inside information should not worry that they may be ensnared by ambiguous circumstances, because after they are convicted, they will enjoy a review proceeding where they "carry a heavy burden" to show that, "drawing all inferences in favor of the prosecution and viewing the evidence in the light most favorable to the prosecution,"no rational trier of fact could have found that a disclosure was a gift. See United States v. Santos , 449 F.3d 93, 102 (2d Cir. 2006) (internal quotation marks omitted). It is unclear why the majority believes that the cure for convictions that may rely entirely on circumstantial evidence is a proceeding where that same circumstantial evidence is evaluated in the light least favorable to the defendant.14
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