NEW YORK — A former Goldman Sachs director accused of feeding confidential information to a corrupt hedge fund manager has been convicted of conspiracy and three counts of securities fraud.

But the jury acquitted Rajat Gupta on two other securities fraud counts. Gupta’s adult daughters hugged and wept as the verdict was read. He showed no visible reaction.

The 63-year-old Gupta, born in India, educated at Harvard and well-known in corporate America, has been the most prominent defendant prosecuted so far in a wide-ranging probe of alleged insider trading in the hedge fund industry by investigators armed with wiretaps.

Both his trial and that last year of former billionaire Raj Rajaratnam pulled back the curtain on how the two longtime friends and Wall Street titans navigated the turbulent waters of the 2008 economic meltdown.

Rajaratnam, founder of the $7 billion Galleon hedge fund, was sentenced last October to an 11-year prison term on an insider-trading conviction. Less than a month later, Gupta was charged in a separate case built on the some of the same wiretap and other evidence.

Allegations that Gupta conspired with a convicted white-collar criminal represented a fall from grace: The defendant is a former chief of McKinsey & Co., a highly regarded global consulting firm that zealously guards its reputation for discretion and integrity.

He also was a one-time director of Procter & Gamble Co.