I swear to tell the truth, the whole truth, and nothing but the truth
May newsmakers
Hearts: The Transnational Crime. Click for detail Clubs: Interregional Crime Level. Click for detail Diamonds: Crime at the federal level. Click for detail Spades: Crime at the regional level. Click for detail |
Rajat Kumar Gupta is Member of the Board of Directors of the investment bank Goldman Sachs, a former managing Director of McKinsey, an independent Director of the Savings Bank and a member of the International Advisory Board of School “Skolkovo”. According to the WSJ, in 2008, Gupta could share insider information with the founder of hedge fund Galleon, Raj Radzharatnam, arrested in October 2009. The newspaper has learned of this from the trial materials, directed to the counsel of Radzharatnam. American prosecutors explore transactions with shares of Goldman Sachs, committed by Radzharatnam together with other figures of the Galleon case from June to October 2008, in order to find out whether the information was supplied by a member of the Board of Directors Gupta. Goldman Sachs quotes collapsed by almost 50% when Lehman Brothers became bankrupt. Goldman Sachs and Galleon have been cooperating for a long time, in trading mainly. Gupta had a joint business with the creator of Galleon. Representative of Gupta told WSJ, that he had not done anything illegal. No charges against him have been instituted. According to the U.S. prosecutors, they have not faced such a large-scale business on insider information like a hedge fund Galleon for more than 20 years. Since October 2009, 21 people have been arrested under the case, 11 of them have already pleaded guilty. A former McKinsey consultant Anil Kumar is one of them, he cooperates with the investigation now. He acknowledged that he had received $ 2 million from Galleon for insider information. U.S. Justice Department estimated profit of the fraudulent scheme makers at $ 20 million, SEC - at $ 25 million. They earned this money in 2006-2009 through insider transactions with shares of Google, IBM, Sun Microsystems, Hilton, and Advanced Micro Devices. That time the assets of Galleon Group totaled $ 3.7 billion, while the founder and manager of the fund, Raj Radzharatnam occupied the 559th place in the rich people list with a capital of $ 1.3 billion, according to Forbes. In March, Goldman Sachs announced that Gupta was not going to participate in the election of a new board of directors of the bank. But he had a good position in Russia. Gupta entered the Board of the Savings Bank in 2008, becoming the first foreigner in the Board. During his first year in office he has received almost 440 000 euros, while the others were owed 1 million rubles each. On this reason the consulting firm RiskMetrics recommended that shareholders did not vote for his candidacy during the re-election, yet Gupta stayed in the board for 2009. President of the Savings Bank Gref said, that at the time Gupta was an ideological leader of international class, moreover, he was valuable for the bank as an expert in business development in India, and his compensation was determined on the basis of international practice. Gupta was one of the ideologists and founders of the Indian School of Business in Hyderabad (Indian School of Business), which received its first students in 2001. The school was built on the principles of public-private partnership; it was created by the state government of Andhra Pradesh and a few businessmen of Indian origin. Gupta and Shiv Kemka, Vice Chairman of the Board of Directors of Sun Group (he had business in Russia) were among those. These two men brought to our country the idea of establishing business schools of world-class, and gained support from the Chairman of the Board of Directors of “Troika Dialog” Ruben Vardanyan and the then minister of economic development, the current president of the Savings Bank, Herman Gref. As a result, Rajat Gupta joined the International Board of Trustees of the school, presided over by President Dmitry Medvedev. The last meeting of this council was held in September 2009 in Moscow, and Gupta took part in it, as a spokesman of Skolkovo reported. He refused to give more comment. "Vedomosti failed to contact Vardanyan and Gref yesterday. Source: Vedomosti »¹ 68 (2586) on 16.04.2010
Want to discuss this article? Welcome to our forum!Do you have additional information? Please send it to us !Read dossier Photo Gallery - Rajat Gupta |
News - Gupta RajatExclusive - Gupta Rajat
VIDEO
Dirty Art The Billion Dollar Don - Semion Mogilevich In Context: Who is Boris Berezovsky? RUSSIAN MAFIA RAP |
