Thursday, October 27, 2011

Financial Rat Indicted

Breaking news from the Financial Times: Financial Rat Indicted
"Rajat Gupta, the former head of McKinsey [Group hedge fund], will face criminal charges as soon as Wednesday for allegedly passing Goldman Sachs earnings data to Raj Rajaratnam, the hedge fund manager, while serving on the bank’s board, people familiar with the matter say."
The aforementioned Raj Rajaratam was convicted earlier for the same deal and is now sitting in jail, serving a ten year sentence for his part in this insider trading scenario. The case is strong, as apparently the FBI/SEC had been wiretapping these sleazeballs for some time.


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