Pittsburgh_Patrika_July_2017_Issue

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The Pittsburgh Patrika, Vol, 22, No. 4, July 2017 Desi Transitions: Insider Trader Rajat Gupta Blames the Aggressive Prosecutor and the Jury System for His Jail Term By Kollengode S Venkataraman Rajat Gupta Rajat Gupta, alumnus of IIT-Bombay (1971) and Harvard Business School MBA (1973), was the youngest and the first foreign-born managing director at McKinsey & Co. He was barely 45 when became the chief executive of McKensey. His background is the stereotypical Bengali Bhadralok — his father was a journalist and professor, and his mother taught in a Montessori school. His parents died when he was in his teens. He was brilliant in his studies. His meteoric career on Wall Street as a foreignborn Wall Street executive was a model for ambitious Indian business school graduates. He was a board member at Goldman Sachs, Proctor & Gamble and AMR (the holding company of American Airlines); and he was in many big-banner global philanthropies fighting AIDS, TB, malaria… Gupta is also a convicted felon. In 2012 Gupta was given a 2-year prison term and a one-year supervised release, plus a $5 million fine for insider trading. The jury convicted him for colluding with billionaire Raj Rajaratnam, the hedge fund manager of Galleon Group, then one of the largest hedge funds. Gupta’s net worth at that time was around $100 million. Savor the irony that Gupta’s parents, as reported in the Economic Times in India, were communists. In his first interview after coming out of prison, Gupta talked, not to any US print media in New York such as the Wall Street Raj Rajaratnam of Galleon Group (L) and Rajat Gupt (R) with US Treasury Secretary Henry Paulson (Center) in his Halcyon days. Journal, New York Times, where he made his mark in his career and his millions, but to Vikas Dhoot of The Hindu. The interview was published in March 2017 under the title “Had a Good Time in Prison.” See here: www.tinyurl.com/RajatGupta-Good-Time-in-Prison. In the interview, Gupta blamed the “politically ambitious” prosecutor Preet Barara, “the signs of the time,” and a judicial system and a sys- 10
The Pittsburgh Patrika, Vol, 22, No. 4, July 2017 Come Home To Summerset at Frick Park With easy access to the Waterfront, downtown, and Oakland, Summerset at Frick Park offers luxurious and hassle- free living. Enjoy a neighborhood of diverse international residents with close proximity to Pittsburgh’s medical, technology, and entertainment hubs. Facing east and south, the Schneider Park and Parkview townhomes range from 2,110–2,860 square feet, featuring open first floor plans that allow you to lay out your home your way. With three bedrooms and three stories, all townhomes feature covered front porches, attached garages, private outdoor spaces, and professional landscaping. End units include a first floor master suite along with third floor bonus loft and flex-space that are customizable to meet your needs. Add an in-law suite, an office, or a gym—whatever you want in your dream home. Summerset at Frick Park. City Living. Redefined. Call Melissa Reich Today 412-215-8056 SummersetAtFrickPark.com 11
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