Gupta — born in India, educated at Harvard and well-respected on Wall Street — was ‘‘a wonderful example of the American Dream,’’ Lebkowski said. ‘‘I wanted to believe the allegations weren’t true.’’ But on the counts the jury found Gupta guilty, ‘‘the evidence was overwhelming,’’ he added.

The jury reached a not-guilty verdict on two other securities fraud counts after less than two days of deliberations at the insider trading trial in federal court in Manhattan.

In a statement, FBI Assistant Director Janice K. Fedarcyk called the conviction ‘‘the latest milestone in an FBI initiative undertaken in 2007 to zero in on illegal conduct in the hedge fund industry.’’

Added Fedarcyk: ‘‘Rajat Gupta broke the law, plain and simple.’’

Gupta, 63, of Westport, Conn., left the courthouse on Friday without speaking to reporters. He had sat motionless while the verdict was read, but his adult daughters could be heard weeping. As the courtroom emptied, they hugged their father.

Defense attorney Gary Naftalis called the outcome a disappointment.

‘‘We believe the facts of this case demonstrate that Mr. Gupta is innocent,’’ he said. ‘‘He always acted with honesty and integrity.’’

Allegations that Gupta conspired with a convicted white-collar criminal represented a fall from grace: The defendant is a former chief of the global consulting firm McKinsey & Co. and a onetime director of the huge consumer products company Procter & Gamble Co. He also won admirers, including author and spiritual leader Deepak Chopra, with his philanthropy.