29 C
Thursday, October 1, 2020
- Advertisement -

Gupta to Face Criminal Charges Over Goldman Tips


Development of Nigeria’s Digital Economy Anchored on Eight Pillars – A Speech by Isa Patanmi

I am highly delighted to launch the Digital Nigeria Portal and Mobile App as part of the implementation of our National Digital...

Why I Made TIME100 Most Influential People of 2020

Not every day do you wake up to this —honoured to be named to the 2020 Time100 from TIME. This has been...

Subsidizing the Naira Blocks Nigeria’s Economic Takeoff By Kingsley Moghalu

The Naira should be floated to find its exchange rate value on the market if Nigeria’s economy is to become productive, instead...

Africa, AfCFTA, The Private Sector and The Way Forward By Abdul Samad Rabiu

I start by congratulating African leaders on the opening of the AfCFTA secretariat last month. I believe the secretariat will further help...

Rajat Gupta, the former chief of global consulting powerhouse McKinsey is expected to face criminal charges as early as Wednesday for allegedly funnelling Goldman Sachs earnings information to convicted hedge fund manager Raj Rajaratnam while he served on the investment bank’s board.

People familiar with the case say that Mr Gupta is likely to voluntarily surrender to agents of the Federal Bureau of Investigation on Wednesday before charges are announced by US prosecutors in New York.

Mr Rajaratnam forged a friendship with him after the former made a donation to the Indian School of Business which was founded by Mr Gupta. They would later go into business and start the investment firm Taj Capital later renamed New Silk route.

But while Mr Rajaratnam was convicted and sentenced to 11 years in prison for insider trading, the Securities and Exchange Commission dropped all charges against Mr Gupta even though the wiretap evidence presented at the trial appeared to implicate him.

The impending criminal charges after comes after months of speculation and an exchange of lawsuits between the SEC and Mr Gupta.

The 62-year-old Mr Gupta rose to the pinnacle at McKinsey where he became the consulting firm’s first non-American chief executive after graduating from Harvard Business School. He has also served as a senior adviser to the Bill and Melinda Gates Foundation, the United Nations and KKR the hedge fund company co-founded by industry legend Henry Kravis.

- Advertisement -


Please enter your comment!
Please enter your name here

- Advertisement -

Business Profiles

Akeem Lawal

Mr Akeem Lawal is a pioneering member of the Interswitch management team and is the current Divisional Chief Executive officer of Payments...

Ahmed Rady

Ahmed Rady is a managing director at Alta Semper Capital. He joined Alta Semper in 2018 as a Director. He brings more...

Olufunke Aiyepola

Olufunke Aiyepola is the chief executive of UTL Trust Management Services Limited. She studied Law at the University of Ife (now Obafemi...

Edefe Ojomo

Edefe Ojomo is a lecturer in the Department of Jurisprudence and International Law at the University of Lagos, Nigeria. She has a...

Afsane Jetha

Afsane Jetha is the Managing Partner and CEO of Alta Semper Capital, which she co-founded in 2015 alongside Ronald Lauder (Chairman of...