Wednesday, 27 August 2014
Last updated 10 hours ago
Jun 1 2012 | 1:29pm ET
A witness at the insider-trading trial of Rajat Gupta says the former McKinsey & Co. chief secretly served as an executive at convicted fraudster Raj Rajaratnam’s Galleon Group.
Ayad Alhadi, a marketer at Galleon from 2008-2009, testified at Gupta’s federal court trial in Manhattan on Friday that he was called into Rajaratnam's offices a few days before a 2008 fundraising trip to the Middle East and told that Gupta was the new chairman of Galleon International.
Asked how he responded to the announcement, Alhadi said, “I think I congratulated him,” reports the New York Daily News.
Alhadi said he traveled with Gupta to the Middle East where they met with potential investors—including Abu Dhabi Investment Authority, the Abu Dhabi Pension Fund, First Gulf Bank and the Abu Dhabi Investment Council—some of which were very impressed by Gupta and his ties to Goldman.
In fact, days after meeting with Gupta, the ADIC promised to invest $75 million with Galleon. Asked if an investment of that size after four days was common Alhadi told the court it was “pretty uncommon.”
Gupta, who sat on the boards of both Goldman and Procter & Gamble, is accused of leaking market-making information about both companies to Rajaratnam. He has pleaded not guilty.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...