Rajat Gupta has been convicted by jury on Four of six counts for insider trading on the basis of circumstantial evidence. Rajat Gupta former head of Mckinsy and Company is convicted of conspiracy, fraud and leaking boardroom secrets to Raj Rajatraman, former head of Hedge fund Galleon and currently serving an eleven years sentence in US. There are two plots which were built by media in US around the case of Rajat Gupta and followed by Indian Media also.
1. Rajat Gupta wanted to enter in the billionaire club, that’s why he leaked the information. He was greedy. A man who has already achieved the American dream , then suddenly he became greedy and wanted to enter the billion dollar club. Greed is also considered as a sin in all the major religion. Particularly when a man of Rajat Gupta stature is Greedy and he follow’s a path of unlawful conduct to satisfy his greed he should be convicted and jailed. The point is before his conviction he was portrayed as sinner.
2. After his conviction the story is presented to the world with an emotional quotient of fallen angel. When he is convicted and will face jail sentence then he is a fallen angel.
Who is Rajat Gupta?
Rajat Gupta was head of the world’s top most consultancy Mckinsey & Company for almost ten years. He worked for Mckinsey through out his career. A man of great intelligence. Forget about Corporate world of India, Rajat Gupta was a known man to any person in India who has some knowledge of General awareness. In India he created a source of inspiration that yes an Indian can lead world’s greatest companies.
One of the core principle of every consultancy company is secrecy and security of the information of their client’s. This is maintained at such a level that even an employee of the firm don’t know that who are the client’s on which the consultancy firm is working.
On a personal level I can never accept that Rajat Gupta didn’t remember or was not aware of these rules while he was sitting on the board member’s of Goldman Sachs and Proctor & Gamble. He knew all the rules and principles even better than all the people through out world in media will discuss or write about his conviction.
In the coming year’s these few lines will always be discussed:
Jury foreman Richard Lepkowski didn’t want to convict Rajat Gupta of insider trading. “I wanted to believe the allegations weren’t true,” Lepkowski, 51, said in an interview today with reporters after federal court in Manhattan. “Here was a man who came to this country and was a wonderful example of the American Dream.” “But at the end of the day, those allegations on which we found guilt — the evidence was overwhelming.
Some where these emotional quotation’s has come from what Rajat Gupta has achieved in his career and Judges want to really start their premise on believing that the person who has been charged is innocent.
Forbes said that evident are circumstantial and one of the basic question which will always remain unanswered is ” If Rajat Gupta did then why?”.
There are stories and claims that he wanted to enter in to the billion dollar club and his motive of leaking the information to Raj Rajaratnam to have investment in his firm. A unique concept of creating a perception about Rajat Gupta as a greedy person was going on media. On that note I think that somehow media all over the world have underestimated Rajat Gupta lobby and contacts. I don’t think that Rajat Gupta needed Raj Rajaratnam favors to have investment in his firm. He could have done it on his own.
I have come across many discussion seven or eight months before this judgement where people have already believed that Rajat Gupta is a crook.
“Rajat Gupta is a crook”? and why corporate India should have sympathies with him? Rajat Gupta will always have sympathizer not only in India but in US also. One of the hypocrisy at-least of Indian Media is ”Warren Anderson CEO of Union carbide was supported by the establishment of Indian authorities in India to run away from the country. Warren Anderson was never extradited to India or we should say that a CEO of an American company has more power than an Indian establishment.” I believe in later that an American citizen who is a CEO of an American Company has huge power in terms of Political and lobby in another country. India simply didn’t have that power to influence any case in US.
Learning from Rajat Gupta case: Please don’t indulge in such stupidest conduct anywhere in the world.
There is only one person in the world know’s that Rajat Gupta is a sinner or a fallen angel and it is him. We have to wait for some good years to listen his side of story or may be we will never know.