Advertisement
YOU ARE HERE: LAT HomeCollectionsRajat Gupta
IN THE NEWS

Rajat Gupta

FEATURED ARTICLES
BUSINESS
June 14, 2012 | By Andrew Tangel
Jurors in Rajat Gupta's trial are weighing the former Goldman Sachs director's fate in his high-profile insider-trading case in New York. Gupta, 63, is the highest profile defendant to face charges in a wide-ranging insider-trading scheme headed by Raj Rajaratnam. Rajaratnam was found guilty last year and sentenced to 11 years in prison. Gupta's trial featured multiple days of testimony by Goldman's chairman and chief executive officer, Lloyd Blankfein, as well as videotaped testimony by Ajit Jain, who is seen as a potential successor to legendary investor Warren Buffett to run Berkshire Hathaway Federal prosecutors have produced emails, phone records and other documents in their bid to prove Gupta was a highly placed tipster for Rajaratnam, providing illegal inside information to Rajaratnam, head of the Galleon Group hedge fund.
ARTICLES BY DATE
BUSINESS
July 19, 2013 | By Ravi Mattu
In April 2004, Rajat Gupta gave a talk at Columbia University. One student asked the former global managing director of McKinsey & Co. for his views on money and wealth creation. "Yeah, I am driven by money....  However much you say that you will not fall into the trap of it, you do fall into the trap of it," he said. Those words would prove prescient. Eight years after he uttered them, Gupta was convicted by a New York court of insider trading, of leaking privileged information gleaned from his position on the board of Goldman Sachs to Raj Rajaratnam, founder of the hedge fund Galleon.
Advertisement
BUSINESS
October 24, 2012 | By Andrew Tangel
NEW YORK -- Rajat Gupta, among the world's most prominent businessmen, may spend years in prison for his role in the Galleon Group insider-trading scheme. Or, Gupta may perform community service as punishment after a judge sentences him Wednesday on three counts of securities fraud and another of conspiracy. A jury convicted him in June. His lawyers have proposed sentencing him to work for a homeless youth shelter in New York or in Rwanda, helping improve health care and develop agriculture in rural areas.
BUSINESS
March 29, 2013 | By Andrew Tangel, Los Angeles Times
NEW YORK - Preet Bharara, the man dubbed the new sheriff of Wall Street, notched another arrest in the government's vast insider trading probe. This time the top federal prosecutor in Manhattan nabbed a top portfolio manager at one of America's biggest hedge funds. SAC Capital Advisors' Michael Steinberg was led out of his Park Avenue apartment building in handcuffs early Friday morning. It's a major arrest at a fund that has long drawn government scrutiny. Bharara, 44, has carved out a reputation for being a tough prosecutor who has overseen some of the most high-profile white-collar criminal cases since the 1980s.
BUSINESS
June 15, 2012 | Bloomberg News
Rajat Gupta, who reached the pinnacle of corporate America as managing partner of McKinsey & Co. and as a director at Goldman Sachs Group Inc.and Procter & Gamble, was convicted by a federal jury of leaking inside information to hedge-fund manager Raj Rajaratnam. Gupta, 63, was found guilty of securities fraud and conspiracy by a federal jury in Manhattan today in its second day of deliberations. The trial began May 21. Securities fraud carries a maximum prison sentence of 20 years.
BUSINESS
October 25, 2012 | By Andrew Tangel, Los Angeles Times
NEW YORK - Former Goldman Sachs director Rajat Gupta will spend two years behind bars for sharing secret company information with a hedge fund manager, becoming the highest-profile Wall Street figure heading to prison for insider trading. Gupta once headed the prestigious consulting firm McKinsey & Co. and also served as a director to Procter & Gamble. His philanthropy around the globe has also been stunning, as Microsoft co-founder Bill Gates, former United Nations secretary general Kofi Annan and scores of others told the court in letters.
BUSINESS
March 2, 2011 | By Nathaniel Popper, Los Angeles Times
Rajat Gupta's storied business career is a collection of gold-plated milestones: Harvard Business School, the top spot at consulting giant McKinsey & Co., seats on the boards of Goldman Sachs, Procter & Gamble and American Airlines. But the Securities and Exchange Commission said Tuesday that Gupta, 62, used his corporate board positions to supply confidential information to his friend Raj Rajaratnam, a hedge fund manager who is set to go on trial next week on insider trading allegations.
BUSINESS
June 11, 2012 | By Chad Terhune
Rajat Gupta, a formerGoldman Sachs Group Inc.board member accused of insider trading, won't testify this week in his own defense, his lawyer said. Gupta's chief lawyer, Gary Naftalis, said in a letter Sunday to the federal court in New York that his client won't take the stand after saying earlier that it was "highly likely. " Gupta has pleaded not guilty, and his lawyers say the government's case is speculative. Federal prosecutors rested their case Friday. Gupta faces as long as 25 years in prison if convicted on charges of securities fraud and conspiracy.
BUSINESS
March 18, 2011 | By Nathaniel Popper, Los Angeles Times
A former Goldman Sachs Group Inc. director accused of leaking confidential information is suing the Securities and Exchange Commission, saying the agency "unfairly and unconstitutionally" singled him out. The SEC has accused Rajat Gupta, former head of consulting firm McKinsey & Co., of giving inside information about Goldman to his friend and business partner Raj Rajaratnam. Rajaratnam, former head of the Galleon hedge funds, is on trial on 14 counts of insider trading. He has denied any wrongdoing.
BUSINESS
July 19, 2013 | By Ravi Mattu
In April 2004, Rajat Gupta gave a talk at Columbia University. One student asked the former global managing director of McKinsey & Co. for his views on money and wealth creation. "Yeah, I am driven by money....  However much you say that you will not fall into the trap of it, you do fall into the trap of it," he said. Those words would prove prescient. Eight years after he uttered them, Gupta was convicted by a New York court of insider trading, of leaking privileged information gleaned from his position on the board of Goldman Sachs to Raj Rajaratnam, founder of the hedge fund Galleon.
HEALTH
December 4, 2012 | By Andrew Tangel
NEW YORK -- Rajat Gupta, a former Goldman Sachs director a found guilty of insider-trading charges in October, will try to remain free while he appeals his conviction.  Gupta's bid to stay free beyond his Jan. 8 surrender date is scheduled to be heard Tuesday by the U.S. 2nd Circuit Court of Appeals. If Gupta begins serving his two-year sentence and his appeal were eventually successful, he could conceivably be freed or face a new trial after serving much of his sentence. In court papers, Gupta's lawyers laid out what they claimed were judicial errors in the case, and concluded: "Gupta was denied the opportunity to present the best evidence of his innocence. These errors pervaded the whole trial.
BUSINESS
November 20, 2012 | By Jim Puzzanghera
WASHINGTON -- Federal prosecutors on Tuesday charged a former hedge fund portfolio manager with securities fraud in connection with what they said was the most lucrative insider-trading case ever prosecuted. In complaints filed in New York, authorities said investment advisors and hedge funds made more than $276 million in illegal profits or avoided losses by trading before the announcement in 2008 of negative results from clinical trials for an Alzheimer's disease drug being developed by Elan Corp.
BUSINESS
October 25, 2012 | By Andrew Tangel, Los Angeles Times
NEW YORK - Former Goldman Sachs director Rajat Gupta will spend two years behind bars for sharing secret company information with a hedge fund manager, becoming the highest-profile Wall Street figure heading to prison for insider trading. Gupta once headed the prestigious consulting firm McKinsey & Co. and also served as a director to Procter & Gamble. His philanthropy around the globe has also been stunning, as Microsoft co-founder Bill Gates, former United Nations secretary general Kofi Annan and scores of others told the court in letters.
BUSINESS
October 24, 2012 | By Andrew Tangel
Facebook lost $59 million in the third quarter, but the newly publicly traded social networking site saw its shares soar on Wall Street early Wednesday. Facebook shares gained $4.35, or 22%, to $23.85 in early trading, after the company reported gains from mobile advertising. Major U.S. stock indexes, meanwhile, edged higher shortly after the opening bell. The Dow Jones industrial average rose 16 points, or 0.1%, to 13,118. The broader Standard & Poor's 500 index was up four points, or 0.3%, to 1,417.
BUSINESS
October 24, 2012 | By Andrew Tangel
NEW YORK -- Rajat Gupta, among the world's most prominent businessmen, may spend years in prison for his role in the Galleon Group insider-trading scheme. Or, Gupta may perform community service as punishment after a judge sentences him Wednesday on three counts of securities fraud and another of conspiracy. A jury convicted him in June. His lawyers have proposed sentencing him to work for a homeless youth shelter in New York or in Rwanda, helping improve health care and develop agriculture in rural areas.
BUSINESS
October 24, 2012 | By Andrew Tangel
NEW YORK -- Rajat Gupta, a former director of Goldman Sachs, will spend two years in jail and an additional year on supervised release for his role in a sprawling insider-trading scheme on Wall Street. U.S. District Judge Jed Rakoff ordered Gupta to report to prison Dec. 11 and pay $5 million in fines. A jury convicted Gupta of securities fraud and conspiracy in June. Federal prosecutors had sought a prison sentence of as long as 10 years. Gupta's lawyers asked Rakoff for a term of community service, helping homeless youth in New York or rural poor in Rwanda.  Gupta is the highest-profile figure in the federal government's campaign against insider-trading, which Preet Bharara, the U.S. attorney in Manhattan, has called rampant on Wall Street.
BUSINESS
June 16, 2012 | By Andrew Tangel, Los Angeles Times
NEW YORK — The federal government took down the biggest Wall Streeter yet in its battle against insider trading: Rajat Gupta, a former director of Goldman Sachs who once headed powerful consulting firm McKinsey & Co. Gupta's conviction on securities fraud and conspiracy charges in federal court in Manhattan on Friday may embolden government efforts to weed out white-collar corruption using wiretaps, tools traditionally used against mobsters and...
BUSINESS
June 15, 2012 | By Andrew Tangel
A jury has convicted former Goldman Sachs director Rajat Gupta in his high-profile insider-trading case in New York. A federal jury had been weighing Gupta's fate for two days. The jury of eight women and four men found Gupta guilty of four criminal counts in a wide government push against insider trading. Gupta was found guilty of three counts of securities fraud and one count of conspiracy for leaking stock tips to Raj Rajaratnam, head of the Galleon Group hedge fund. He was acquitted on two counts of securities fraud.
Los Angeles Times Articles
|