Rajat Gupta
| Rajat Gupta | |
|---|---|
Rajat Gupta at the Annual Meeting of the World Economic Forum in Davos, 2010
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| Native name | রজত কুমার গুপ্ত |
| Born |
Rajat Kumar Gupta 2 December 1948 Kolkata, West Bengal, India |
| Residence |
Westport, CT, United States New York, NY, USA Colorado, USA Palm Island, FL, USA |
| Citizenship | United States |
| Alma mater |
IIT Delhi Harvard Business School |
| Occupation | Consultant, Management expert |
| Years active | 1973-2007 |
| Employer | McKinsey & Company, Inc. |
| Net worth | $100 million (2008) |
| Title | Senior Partner Emeritus and former Worldwide Managing Director |
| Term | 1994-2003 (Managing director) |
| Predecessor | Fred Gluck |
| Successor | Ian Davis |
| Criminal charge |
conspiracy (one count) securities fraud (three counts) |
| Criminal penalty | two years imprisonment $5 million fine |
| Criminal status | Convicted |
| Spouse(s) | Anita Mattoo Gupta |
| Children | 4 |
Rajat Kumar Gupta ([ɾɔdʒot̪ kumaɾ ɡupt̪o]; born 2 December 1948) is an American businessman and philanthropist who served a two-year term in U.S. federal prison for insider trading. He was the first foreign-born Managing Director (chief executive) of management consultancy firm McKinsey & Company from 1994 to 2003. He was also a board member of corporations including Goldman Sachs, Procter and Gamble and American Airlines, as well as an advisor to non-profits such as the Bill & Melinda Gates Foundation and The Global Fund to Fight AIDS, Tuberculosis and Malaria. Additionally, he is the co-founder of the Indian School of Business, American India Foundation, New Silk Route and Scandent Solutions.
Gupta was convicted in June 2012 on insider trading charges of four criminal felony counts of conspiracy and securities fraud. He was sentenced in October 2012 to two years in prison, an additional year on supervised release and ordered to pay $5 million in fines. His conviction was upheld by a Federal Appeals Court on March 25, 2014. He then lodged an appeal with the U.S. Supreme Court which was subsequently upheld on April 20, 2015. An application to remain free until the court determined whether it would hear the appeal was denied on June 11, 2014 leaving Gupta having to commence his two-year prison term on June 17, 2014. He was released on monitored house arrest in January 2016 and from house arrest in March 2016. At the time of his release Gupta was continuing to appeal his conviction on grounds that he received no tangible benefit from Raj Rajaratnam in return for the profitable insider information that Gupta relayed to his associate Rajaratnam.
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