Feted business guru turned convicted felon - The spectacular rise and fall of the former McKinsey & Co. MD, and former Goldman Sachs Group Inc. director
Rajat Gupta in his memoir, "Mind Without Fear," that released Monday, tells of his dramatic rise to the top of the corporate and financial world in America and then his fall after being charged in 2012, in one of the largest insider trading cases in the US. The memoir comes just months after a federal appeals court declined to throw out Gupta’s 2012 conviction. Gupta had argued that U.S. prosecutors failed to prove he got a personal benefit for passing tips to his friend, billionaire hedge fund manager Raj Rajaratnam. In 2012, Gupta was found guilty of passing confidential boardroom information to the hedge fund founder Raj Rajaratnam, who is currently serving 11 years in prison for insider trading. One such information the prosecutors alleged Gupta shared with Rajaratnam in September 2008 was about Berkshire Hathaway’s five billion dollar investment in Goldman Sachs. While Gupta has already served his prison term, a ruling in his favor would have cleared his record. ...