Mr. Rajat Gupta , a former director at Goldman Sachs and Procter & Gamble has been convicted on three counts of securities fraud and one count of conspiracy for passing along confidential insider information about the companies to a hedge fund managed by his friend Raj Rajaratnam . He was found not guilty on two other securities fraud charges.
Mr. Gupta had spent an illustrious business career as three times Managing Director of McKinsey & Co. He had also played a key role in the establishment of ISB, Hyderabad and was on board of the B School as Chairman till March 2011. He resigned after the allegations of insider trading etc. surfaced.
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