Rajat Gupta

  • rajatgupta


    Rajat Gupta Hears They’re Letting Insider Traders Go

    And he’d like to get in on that.

    / Mar 9, 2015 at 12:31 PM
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    No Need To Worry About Scheduling Board Conference Calls Around Rajat Gupta’s Time At The Prison Phone

    John Roberts & co. may yet spring Rajat Gupta from the hoosegow, but even if it does, it won’t let him start collecting board checks again.

    / Jan 12, 2015 at 1:39 PM
  • Rajat Gupta


    Civil Penalty Watch ’14: Rajat Gupta

    Ex-Goldman Sachs board member Rajat Gupta reported to prison earlier today for, among other things, being unable to wait more than 23 seconds to spill material non-public information to now-known insider trader Raj Rajaratnam. Also, he needs to come up with about $24.9 million, if anyone’s feeling generous.

    / Jun 17, 2014 at 3:23 PM
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    Rajat Gupta Is Reporting To Prison, Yes, But Did You Hear About His Coveted Social Hour Time Slot?

    On Tuesday, Rajat K. Gupta, the former managing director of the consulting firm McKinsey & Company who was convicted of insider trading, is scheduled to report to a minimum-security prison camp in Massachusetts, spending the next two years not far from his one-time friend and partner in crime, Raj Rajaratnam…In an interesting twist, Mr. Rajaratnam, […]

    / Jun 13, 2014 at 12:46 PM
  • Rajat_Gupta


    Raj Rajaratnam’s 23-Second Man Reporting To Prison Next Month

    Rajat Gupta, the Goldman Sachs director who waited but 23 seconds after a Goldman board meeting to call hedge fund manager Raj Rajaratnam with material, non-public information, has lost his bid to stay out of jail.

    / May 30, 2014 at 3:46 PM
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    Rajat Gupta Has Checked His Calendar And June 17 Works For Him To Report To Prison

    Rajat Gupta, the former Goldman Sachs Group director convicted in a 2012 insider trading scheme tied to the Galleon Group LLC hedge fund, agreed to surrender to prison authorities on June 17 to begin a two-year sentence, a federal judge in Manhattan said. Gupta, 65, lost a bid for a new trial last month, when […]

    / Apr 17, 2014 at 2:42 PM
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    Rajat Gupta Hoping Court Can Agree He’s Suffered Enough

    …and that $13.9 million in civil penalties, on top of the two years in prison he’s supposed to serve after being convicted of insider trading, plus the scratch he owes Goldman for sharing its material non-public information with a hedge fund friend, is taking things too far.

    / Apr 9, 2014 at 10:30 AM
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  • Joyti Waswani, Steve Dagworthy


    How-To-Guides: Kick Someone’s Ass The First Day, Or Become Someone’s Bitch

    Whether your destination is a minimum-security white-collar resort or federal pound-me-in-the-ass prison, you are going to need to get used to life without dwarf-tossing or three-ways with underage girls or taser games and $15,000 umbrella stands. This Goldman Sachs alum can help.

    / Dec 11, 2013 at 5:19 PM
  • Rajat Gupta, Gary Naftalis

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    Convicted Felon Will Not Be Eased Out Of His Last Remaining Business Enterprise

    Insider-trading scams can be hard on a friendship.

    / Mar 22, 2013 at 2:05 PM
  • Rajat Gupta, Gary Naftalis


    Rajat Gupta: My Buddy Raj is a Big, Fat Liar*

    All things considered, Rajat Gupta would still prefer not to go to jail.

    / Jan 22, 2013 at 5:41 PM
  • Rajat Gupta, Gary Naftalis


    Rajat Gupta Wants To See Goldman Beg For It

    On a scale of 1 to 10, 1 being standard, 10 being elephantiasis, how big do you think the balls are on the guy who calls up a hedge fund manager 23 seconds after his meeting with fellow board members concludes to leak inside information about that company and then, after being convicted of securities fraud and conspiracy, tells the company, which paid his legal fees, he doesn’t owe them a dime? And that maybe if they put everything into an excel spreadsheet, he’ll think about tossing them a couple dollars, but probably not?

    / Dec 17, 2012 at 3:15 PM
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    Rajat Gupta’s Week Is Looking Up

    No, he didn’t get the outside the box punishment his lawyers were hoping for, i.e. volunteer work in Rwanda but he did receive a far less harsh sentence than the 10 years in the big house prosecutors had requested, which has got to feel pretty good.

    / Oct 24, 2012 at 4:57 PM
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    Rajat Gupta Wishes His “Friend” Raj Had Been A Little Less Profitable

    Well that was fast – and a bit strange. What do you make of the counts on which Gupta was and wasn’t convicted? He was found not guilty on counts 2 and 6 of the indictment: So he’s off the hook for his work at P&G, with the lesson perhaps being that people will believe […]

    / Jun 15, 2012 at 2:19 PM
  • News

    The Universe Has Good News And Less Good News For Rajat Gupta

    The less good news is that a jury found the former McKinsey executive guilty on three counts of securities fraud and one count of conspiracy for passing material non-public information to his friend*, convicted insider trader Raj Rajaratnam. The good news:

    1. Rajat could go to jail for twenty years but probably won’t (“Gupta faces up to 20 years in prison on each of the fraud charges and up to five years for the conspiracy charge. But his sentence is likely to be significantly lower under federal guidelines.”)
    2. Sentencing is scheduled for October 18 so he’s got the whole summer and then some into a Zen place about going to prison. Also! Plenty of time to do all those things he was too busy for when he was working. This is gonna be his time. Time to taste the fruits and let the juices drip down his chin. The summer of Rajat!

    Gupta Found Guilty Of Insider Trading [WSJ]

    *Friend Rajat’s ass.

    / Jun 15, 2012 at 12:22 PM
  • News

    Judge Throws A Wrench In Rajat Legal Team’s ‘You’ve Got The Wrong Guy’ Defense

    Over the course of the Rajat Gupta insider trading trial, attorneys for the former Goldman Sachs director have attempted to show that while their client was privy to material non-public information about, among others, Goldman and Procter & Gamble, and had an established relationship with Raj Rajaratnam, the hedge fund manager currently doing eleven years for trading on material non-public information, their client had no role in helping Raj-Raj score his ill-gotten gains. Last Monday the defense put a witness on the stand who told the jury that while once close, Gupta wasn’t even invited to Rajaratnam’s “lavish 50th birthday party that took place in Kenya,” ergo there is no way Rajat would’ve shared inside info with the guy. This week, the team was hoping to play wiretaps of conversations that took place between Rajaratnam and Goldman executive David Loeb, who they claim is the guy who actually tipped off the Galleon manager. Unfortunately:

    Rajat Gupta, the former Goldman Sachs Group director accused of insider trading, lost a bid to have a jury hear wiretaps of Goldman Sachs executive David Loeb tipping Galleon Group LLC co-founder Raj Rajaratnam…Rajaratnam got some of his illegal tips from Loeb, Goldman Sachs’s head of Asia equity sales in New York, defense attorney Gary Naftalis has said in court. The lawyer has argued to the jury that the “wrong man” is on trial…“This is an attempt to prove an alternative view of the underlying facts and blatant hearsay,” Judge Rakoff told Gupta’s lawyers.

    Gupta Loses Bid on Wiretaps of Goldman’s Loeb, Rajaratnam [Bloomberg]
    Related: Maybe Rajat Gupta Just Wanted Raj Rajaratnam To Console Him Over Goldman’s 3Q2008 Loss, Not Go And Trade On It

    / Jun 12, 2012 at 11:53 AM
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    If, Just Hypothetically, Rajat Gupta Was Insider Trading, How Bad Would That Be?

    I’ve occasionally entertained myself in the last few weeks by building a fantasy-universe defense for Rajat Gupta in which he was a well-meaning but somewhat bumbling director trying to raise money for Goldman and socialize with his buddy Raj Rajaratnam but never in his wildest dreams considering giving Rajaratnam illegal insider tips in exchange for […]

    / Jun 11, 2012 at 5:17 PM
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    Rajat Gupta, Champion Multitasker

    Surely everyone has been on a boring call in listen-only mode, and gotten another call, and picked it up on the handset while leaving the first call on in the background just in case anyone was like “and what do you think Rajat? Rajat? Rajat are you there?” But you wouldn’t expect anyone to make […]

    / Jun 7, 2012 at 5:46 PM
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    Rajat Gupta Defense Team: You Think Our Client Would Pass Inside Information To A Guy Who Didn’t Even Have The Decency To Invite Him To His Birthday Party?

    What motivates people to share material non-public information with a person they know will use it for profit? For some, it’s simply about greed. For others, it’s about the thrill. For yet others, it’s about pillow talk. For Rajat Gupta, the McKinsey director currently on trial for allegedly passing inside information to Raj Rajaratnam, it’s about friendship, according to prosecutors who are trying to make the case that Raj and Rajat were the best of buds and that’s what buds do. They they back each other up when they drunkenly hit on the girlfriend of the wrong guy at the bar, they stand up as best men at each others’ weddings, they pick up the phone and say “Buy GS” when they know for a fact Warren Buffett is about to do so, too. And although attorneys representing Gupta don’t deny the two were thick as thieves, they argue that while perhaps back in the day Rajat would have provided useful information to Raj, there is no way he would have done so after Big R twice violated the bonds of friendship. In the first instance, there was this:

    Defense attorneys have argued that Messrs. Gupta and Rajaratnam had a falling out in fall 2008 after Mr. Gupta lost his entire $10 million investment in a fund managed by Mr. Rajaratnam and therefore wouldn’t have passed along inside information…The precise timing of their relationship’s deterioration could be crucial in proving Mr. Gupta’s guilt or raising doubts in the minds of jurors about whether he conspired to commit securities fraud…Defense attorneys have said Mr. Gupta was furious at Mr. Rajaratnam in the fall of 2008, when Mr. Gupta’s $10 million investment in a fund called Voyager Capital Partners Ltd. evaporated. According to Mr. Kumar’s testimony, Mr. Gupta felt Mr. Rajaratnam’s negligence had allowed Voyager to collapse.

    And then this happened:

    / Jun 4, 2012 at 5:53 PM
  • News

    Not Being Privy To Inside Information Was Grounds For A Level Three Rage Stroke At Galleon

    After Raj Rajaratnam got what prosecutors say was an illegal tip about Goldman Sachs Group Inc. (GS), a partner at Galleon Group LLC who was excluded from the trade turned red-faced and angry, a witness at the Rajat Gupta trial testified. Prosecutors claim that Gupta, who was a Goldman Sachs director, tipped Rajaratnam on Sept. […]

    / May 23, 2012 at 3:45 PM
  • News

    Rajat Gupta’s Lawyers May Try The “Everybody Was Doing It” Defense

    There is much to like in this morning’s Journal article about the Rajat Gupta insider trading prosecution, including a nice illustration of how the inside information that Gupta allegedly passed to Raj Rajaratnam actually seems to have been out in the market already. But let’s start with the transcript of the call between Raj Rajaratnam and his trader Ian Horowitz, which the Journal has redacted not for confidentiality but for saltiness:

    Just so you can see Raj Rajaratnam saying “fuck” a lot, the full transcript of that call is here. But, anyway, the Journal story:

    / May 4, 2012 at 1:57 PM
  • News

    Rajat Gupta Not Sweating This Insider Trading Business

    As you may have heard, yesterday morning, former McKinsey managing director Rajat Gupta was charged with insider trading. Is he worried he might be headed to jail in the not too distant future? Not in the slightest. Because 1) As previously mentioned, that time he took part in a fall 2008 conference call with GS […]

    / Oct 27, 2011 at 9:44 AM
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    Rajat Gupta Looks At These Mariner Energy Goons And Gulps Nervously

    Rajat Gupta continues to have a pretty good run in his insider trading case considering that he was caught on tape telling Raj Rajaratnam about Goldman board meetings 23 seconds after they occurred. Which you might think would be problematic. Yesterday the SEC dropped its administrative action against him, though it will probably re-file in […]

    / Aug 5, 2011 at 3:29 PM
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    Federal Judge Wants to Keep an Eye on SEC to Make Sure They’re Not Bullying Rajat Gupta

    You might think – particularly if you’re a certain hedge fund manager counting down the days to a September sentencing – that Rajat Gupta did pretty well by not being prosecuted criminally (yet!) for allegedly passing inside information to Galleon. All he’s got so far is an SEC administrative action looking for “disgorgement of ill-gotten […]

    / Jul 12, 2011 at 2:46 PM
  • News

    Rajat Gupta May Not Be In The Clear On Goldman Tips To Galleon Just Yet

    According to Reuters, the only reason the SEC put its case against the former McKinsey exec/Goldman board member on hold is because federal prosecutors intervened, which “suggests continuing interest by U.S. Department of Justice prosecutors in Gupta,” who in one instance was so excited to pass inside information to Raj Rajaratnam that he rang up […]

    / Jul 6, 2011 at 11:41 AM
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    Rajat Gupta’s Friends Have A Pretty Good Excuse For Those ‘Lapses In Judgement’

    The most common refrain when insider trading or other such fraud occurs on Wall Street is the question of why? Why did he/she do it? Money is often times too simple an explanation (especially when there are mommy issues to be explored) but other times it’s not. Like in the example of former McKinsey partner […]

    / May 17, 2011 at 11:24 AM
  • News

    Bain & Company Chairwoman Takes A Moment To Point Out Which Consulting Firm Hasn’t Been Employing Alleged Insider Traders

    In addition to Galleon Group, one firm whose name has popped up a whole bunch as it relates to the Feds’ Insider Trading Fest(ivus) is McKinsey. Until they resigned, the consulting firm employed two partners, Rajat Gupta and Anil Kumar, who have both been accused to sharing material non-public information about various companies with their […]

    / Apr 29, 2011 at 9:48 AM

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