Friday, 27 November 2015
Last updated 1 day ago
Jul 7 2011 | 10:26am ET
The indefinite delay in the Securities and Exchange Commission's case against Rajat Gupta may not be good news for the former McKinsey & Co. chief, after all.
The regulator agreed to put its civil case against the alleged Raj Rajaratnam tipster on hold after prosecutors sought a delay. The Justice Department on June 15 moved "to intervene and stay the administrative proceedings," Reuters reports, winning an administrative law judge's assent to the postponement five days later.
Justice's court filings do not indicate why prosecutors sought the stay, but it could indicate that they are building a criminal case against Gupta, accused of passing confidential information about Goldman Sachs to the Galleon Group chief, who was convicted of insider-trading in May. Gupta sat on the bank's board of directors.
Gupta has not been charged with any criminal wrongdoing, although prosecutors have identified him as an unindicted co-conspirator in the Galleon case. Gupta has denied any wrongdoing.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…