Thursday, 26 November 2015
Last updated 1 day ago
Nov 30 2011 | 9:48am ET
A key witness in the Raj Rajaratnam insider-trading trial—and a potentially crucial witness in the trial of former McKinsey & Co. chief Rajat Gupta—has been given more freedom to travel abroad.
Anil Kumar, a former McKinsey consultant who testified that he passed confidential tips to the Galleon Group founder, has received his U.S. passport and lifetime Indian travel visa back. Kumar had to surrender the documents as a condition of his $5 million bail, but will now be allowed to travel outside of the continental U.S. without obtaining prior permission from the court.
"We anticipate that Mr. Kumar's consulting work will require increased travel to Indian and part of Europe in the coming months," his lawyer explained to the court. "Because most of the work Mr. Kumar has been able to obtain is in India, frequent international travel remains critical to Mr. Kumar's ability to earn a living.
Kumar will seek to notify both prosecutors and pretrial services officials at least three days before each trip, the lawyer, Gregory Morvillo, said. Morvillo added that Kumar has, with court permission, traveled to India seven times over the past 18 months, and returned.
Kumar pleaded guilty to insider-trading charges as part of his cooperation agreement with prosecutors but has not been sentenced.
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…