Indian-born Rajat Gupta stands accused of being the “illegal eyes and ears” of Sri Lankan-born friend Raj Rajaratnam, who turned a tidy profit by buying or selling Goldman shares in his multi-billion-dollar hedge fund complex Galleon. Gupta was charged on 26th Oct, Wednesday with five counts of securities fraud and one count of conspiracy to commit securities. The judge freed him on bail(10mil USD) but kept his passport, setting a trial date of April 9.
Rajat Gupta has been a poster boy/icon for Indian intellectuals and management students for many a years now. Many believe that this act of his has/will stain the name of the Indians dreaming of making it big on Wall St. I don’t.
What Rajat Gupta has achieved in his life has been extraordinary and for that he shall have my respect, among that of the rest of the world for a long, long time to come. Working and making a name as an outsider on the Wall St. is not east. Not at all. Been the heads of legendary companies like McKinsey&Company, Proctor & Gamble and Goldman Sachs is no small feat! And we have the same respect for Raj Rajaratnam.
Rajat Gupta – an orphan at age 16- Modernite – IIT-D boy – Harvard [HBS] grad – Taking over the world.
Raj Rajaratnam a self-made billionaire hedge fund manager, born in Sri Lanka and moved to England during the Sri Lanka freedom stuggle. 11-year-old, Rajaratnam was sent to study at Dulwich College in England, then did engineering from University of Sussex there after doing a MBA from Wharton School of the University of Pennsylvania in 1983.