Showing posts with label bollywood celebrities. Show all posts
Showing posts with label bollywood celebrities. Show all posts
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Rajat Gupta
After telephone calls with Lloyd Blankfein about Goldman's profits and Berkshire Hathaway's $5 billion investment, former Goldman Sachs board member Rajat Gupta, who was just charged with insider trading, didn't wait one minute before calling Raj Rajaratnam with the good -- and bad -- news.
You'd think that Gupta would have made some attempt to keep his alleged insider trading under wraps.
Nope!
Example: On one call in 2008, Gupta got off the phone with the Board at 3:56 pm. He had just learned that Berkshire Hathaway would make a $5 billion investment in the bank, which would go public the next day.
He called Raj on the same line at 3:57 pm -- not even a full minute after learning of the enormous new stake.
You'd think that Gupta would have made some attempt to keep his alleged insider trading under wraps.
Nope!
Example: On one call in 2008, Gupta got off the phone with the Board at 3:56 pm. He had just learned that Berkshire Hathaway would make a $5 billion investment in the bank, which would go public the next day.
He called Raj on the same line at 3:57 pm -- not even a full minute after learning of the enormous new stake.
Rajat Gupta, Former Goldman Sachs Board Member, Accused Of Insider Trading By SEC
Goldman Sachs former director Rajat K. Gupta has been charged with insider trading by the Securities and Exchange Commission, for allegedly giving a hedge fund manager secret information about the bank's financial health.
Gupta, who left the Goldman board of directors last year, has been accused of participating in a $18 million insider trading scandal. He allegedly tipped off indicted Galleon Group founder Raj Rajaratnam twice in 2008, allowing the hedge fund to reap millions. The case is the latest example of the SEC's ramped-up effort to root out insider trading, and it constitutes a significant embarrassment for Goldman Sachs.
Gupta told Rajaratnam that Goldman was in better shape than expected, before second quarter earnings were announced in 2008, the SEC says. He also told the hedge fund manager that Warren Buffet's company Berkshire Hathaway was investing $5 billion in the bank, before that information was made public, according to the SEC's complaint.
Gupta, who was formerly the head of consulting giant McKinsey & Co., also sat on the board of directors of Procter & Gamble, and he stands accused of passing Rajaratnam secret information about that company as well.
The SEC previously charged Rajaratnam with insider trading. The billionaire hedge fund manager has pleaded not guilty.
After it came out last spring that the government was examining whether Gupta had shared secret information, Gupta left the Goldman board.
Gupta, who left the Goldman board of directors last year, has been accused of participating in a $18 million insider trading scandal. He allegedly tipped off indicted Galleon Group founder Raj Rajaratnam twice in 2008, allowing the hedge fund to reap millions. The case is the latest example of the SEC's ramped-up effort to root out insider trading, and it constitutes a significant embarrassment for Goldman Sachs.
Gupta told Rajaratnam that Goldman was in better shape than expected, before second quarter earnings were announced in 2008, the SEC says. He also told the hedge fund manager that Warren Buffet's company Berkshire Hathaway was investing $5 billion in the bank, before that information was made public, according to the SEC's complaint.
Gupta, who was formerly the head of consulting giant McKinsey & Co., also sat on the board of directors of Procter & Gamble, and he stands accused of passing Rajaratnam secret information about that company as well.
The SEC previously charged Rajaratnam with insider trading. The billionaire hedge fund manager has pleaded not guilty.
After it came out last spring that the government was examining whether Gupta had shared secret information, Gupta left the Goldman board.
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