Former head of McKinsey surrenders himself to FBI

City A.M. Reporter
A FORMER Goldman Sachs director, who was once the global head of elite consultancy McKinsey & Co, yesterday surrendered to the FBI to face criminal charges related to insider trading.

Rajat Gupta, one of the most prominent business executives to be caught up in the government’s wide-ranging insider-trading probe, had been named by prosecutors as an unindicted co-conspirator in the criminal case against hedge fund tycoon Raj Rajaratnam earlier this year.

An FBI spokesman said Gupta, 62, was “currently in custody and being processed”.

Gupta’s attorney said: “Any allegation that Rajat Gupta engaged in any unlawful conduct is totally baseless. The facts demonstrate that Mr Gupta is an innocent man and that he has always acted with honesty.”