Rajat Kumar Gupta
(RUH-juth kuh-MAHR GUHP-tha
; ; born 2 December 1948) is an Indian-American
businessman accused of insider trading by the United States Securities and Exchange Commission
. Prior to the SEC charges, Gupta had been a corporate officer, board director and strategic advisor to a variety of notable public- and private-sector institutions (list
). He is the co-founder of four organizations: the Indian School of Business
with Anil Kumar
, the American India Foundation
with Victor Menezes
and Lata Krishnan, New Silk Route
with Parag Saxena
and Victor Menezes
, and Scandent
with Ramesh Vangal.
On March 1, 2011, the United States Securities and Exchange Commission
levied administrative civil insider trading
charges against Gupta. He is accused of passing material nonpublic information to friend and Galleon Group
founder Raj Rajaratnam
, who in U.S. v Rajaratnam
was found guilty on all 14 counts of insider trading and securities fraud. In the wake of the SEC accusations, Gupta resigned from or did not stand for reelection to the boards of Goldman Sachs
, Procter and Gamble
, AMR and its subsidiary, American Airlines Inc.
, Harman International
, and Genpact
Ltd, among others. On March 18, 2011, he countersued the SEC.Bray, Chad, , The Wall Street Journal
(partially restricted access), March 19, 2011.
Gupta served for nearly a decade as managing director
(chief executive officer) of......