Sunday, July 22, 2012

ANIL KUMAR then and now

Last week Anil Kumar the former McKinsey director was sentenced to 2 years probation in Manhattan Federal Court by the Judge Denny Chin, the same judge who sentenced Bernard Madoff almost 3 years ago to 150 years. Kumar was a start witness at the Raj Rajaratnam trial and his testimony and tapes supported the prosecution's case. The tapes of Rajaratnam and Kumar showed both men had engaged in insider trading.
This  illustration of Kumar on the stand at the Raj trial, going through the transcript of the tapes as they are played for the jury, showed his sheepish look, as he checked to see the jury's demeanor.  

In contrast his testimony at the Rajat Gupta trial there were no tapes of Kumar and Gupta and  no accusations that Kumar engaged in any illegal activity with Gupta. Rather he was on the stand to establish the relationship between Gupta and Rajaratnam. His testimony was not so key and he was far more engaged with the jury and appeared less concerned. He would face and speak to the jury when he responded to almost every question the prosecutors posed. 

Both Rajat Gupta and Raj Rajaratnam were found guilty of insider trading and Rajaratnam is serving out an eleven year sentence and Rajat Gupta is awaiting his sentencing this fall.

Kumar sentencing story link
Kumar sentencing story by the AP

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