Sunday, 24 May 2015
Last updated 1 day ago
Mar 8 2011 | 1:44pm ET
As the trial of his friend—in which he is poised to play a big part—opens, former McKinsey & Co. head Rajat Gupta is finding himself with more and more free time.
Gupta, who has been identified as a co-conspirator in the insider-trading case against Galleon Group founder Raj Rajaratnam, but who has not been criminally charged, resigned from three corporate boards yesterday. Gupta left the boards of AMR Corp., the parent of American Airlines, Genpact Ltd. and Harman International Industries.
The resignations bring to five the number of boards of directors Gupta has left since he was first mentioned as a source of insider-information for Rajaratnam. Last year, he left the board of Goldman Sachs—a position, prosecutors and the Securities and Exchange Commission allege, he used to obtain inside information for Rajaratnam. Earlier this month, he resigned from the board of Procter & Gamble, a company about which he is also alleged to have tipped Rajaratnam.
Indian media also speculates that Gupta is likely to resign from the executive board of the Indian School of Business, which he co-founded and serves as chairman.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…