In 2012, former McKinsey & Company head and Goldman Sachs board member Rajat Gupta was found guilty of passing on non-public information which resulted in illegal gains and prevented losses in trading. Temporarily that ended his rag-to-riches rise as an orphan immigrant from India. Soon he will begin serving his 2-year sentence and will have to pay a $6 million fine.
Gupta's appeal of that conviction, reports the New York Law Journal, was turned down yesterday by the U.S. Court of Appeals for the Second Circuit. Here is the coverage.
When the feds first fingered Gupta, thought leader and philanthropist, I spoke with experts in public relations and natives of India. Most predicted that Gupta could professionally come back from this fall from grace. That could start in his native India where he is revered for his business understanding and his good deeds. Then he could build on that platform.
Gupta has many role models of miscreants who made it back big. Those range from Michael Miliken to Henry Blodget. Seemingly, the question of character has become irrelevant in America. The focus has shifted to the continuum of success. When that's disrupted for whatever reason, what matters is how the momentum is restored. Gupta could create new space for his career path. Smart, sustained public relations could hammer that fresh identity into the world's consciousness. In prison, given the man's obvious drive, he could begin putting that together.