Saturday, June 16, 2012

Former Goldman Sachs Rajat Gupta faces up to 65 years jail for insider trading

harvard fraud, Rajat Gupta Securities fraud at Goldman Sachs
  Rajat Gupta board member of the investment firm Goldman Sachs is convicted of insider trading, previously seen as one of the most respected corporate and finance director in Wall Street, has used insider trading to get in the elite world of business where insider informations are seen as currency to enlarge your network.
Former director at Goldman and Procter & Gamble, Mr. Gupta was convicted of securities fraud and brings up the agency problem on the table whrere board member seeks their own benefits instead of maximizing shareholders' wealth.
Gupta faces 20 years jail for each of the cases and could get a maximum sentence of 65 years.

He was born in Kolkata and then moved to New Delhi where he studied engineering at the Indian Institute of Technology, he was a bright student and then moved to USA to attend Harvard Business school in 1971. He got into Mc Kinsey as a consultant and gradually gained power in the firm to become the first non-american born leader at Mc Kinsey.
Gupta was considered as a philantropist as he gave generous donations to india and started the Indian School of Buiness in Hyderabad and was the example of the american dream but the desire of reaching the top of the corporate world has lead him to spend the last year of his succesful life in jail.


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