New York: The July 29, 2008, phone call between two titans of Wall Street began with the old friends exchanging mild pleasantries, but then quickly turned serious and - by the government's account - criminal. Hedge fund manager Raj Rajaratnam asked about a rumor that Goldman Sachs "might look to buy a commercial bank". On the other end of the phone, then-widely respected Goldman board member Rajat Gupta confided there...
09:37 AM, May 21, 2012
Johannesburg: South Africa's ruling ANC threatened to take legal action against a Johannesburg gallery for displaying art which lampoons President Jacob Zuma and accuses the party of corruption. The African National Congress wants the Goodman Gallery to remove a painting of Zuma called 'The Spear', which depicts the president with his genitals exposed, and another work that has a 'For Sale' sign superimposed over the party logo. The picture of...
11:40 PM, May 18, 2012
Artworks from the National Musuem and the National Gallery of Modern Art would now be accessible at the touch of a keystroke. ...
09:31 AM, Apr 11, 2012
CHENNAI: Will the Corporation seal on the two additional galleries built without plan and building approval at the Chepauk stadium be removed to facilitate an increase in seating capacity for the upcoming Indian Premier League (IPL) tournament?Well, the Tamil Nadu Cricket Association (TNCA) is hopeful of getting plan approval for the structures from the Chennai Metropolitan Development Authority (CMDA) when its Multi-Storey Building (MSB) panel meets on Friday. TNCA would...
08:52 AM, Mar 30, 2012
New Delhi: In yet another blot on artistic freedom of expression in the country, five unknown men, miffed with kitsch paintings put on show at a gallery, assaulted artist Pranava Prakash on Monday. Prakash was attacked while he was showcasing his paintings of Bollywood celebs in the nude at Espace Alternative gallery in Noida. The miscreants were heard saying that Prakash's paintings were "against Indian culture", before they stormed in...
01:38 PM, Jan 31, 2012
Artist, musician, wife of the Beatles' John Lennon - Yoko Ono is in the capital for her exhibition titled 'Our Beautiful Daughters'. ...
04:47 PM, Jan 13, 2012
New York: A US judge has asked prosecutors to provide specific financial benefits they allege former Goldman Sachs director Rajat Gupta made by passing inside information to his friend Raj Rajaratnam amidst allegations that he also tipped him about Proctor and Gamble's 2008 sale of Folgers Coffee Co to JM Smucker. The judge's direction came after Gupta's lawyers claimed he made no profits and called the government's allegations "mumbo jumbo"....
10:46 AM, Jan 06, 2012
New York: Hedge fund multimillionaire Raj Rajaratnam began serving his 11-year prison sentence on Monday - the longest on record for insider trading - at a former military base near a small, leafy Massachusetts town. The 54-year-old Galleon Group founder reported to the prison about 40 miles northwest of Boston, at 12.43 pm, said Robert Lanza, a spokesman for the Federal Medical Center Devens in Ayer, Massachusetts. He gave no...
11:20 AM, Dec 06, 2011
New York: A federal judge ordered Raj Rajaratnam, the Galleon Group hedge fund founder sentenced to 11 years in prison for insider trading, to pay a record $92.8 million penalty in a related US Securities and Exchange Commission civil case. The penalty imposed by US District Judge Jed Rakoff in Manhattan is in addition to the $63.8 million that Rajaratnam's lawyers said their client has already paid in his criminal...
05:29 AM, Nov 09, 2011
New York: Convicted hedge fund tycoon Raj Rajaratnam has already paid more than $ 63 million in penalties, ordered by the judge who sentenced him two weeks ago for insider trading, one of his lawyers said on Friday in New York federal court. Rajaratnam, 54, is going to prison for 11 years - the longest sentence recorded for an insider-trading case - as the central figure in a broad government...
10:45 AM, Oct 29, 2011
The United States Attorney's Office, Southern District of New York has released a July 29, 2008 US Federal Bureau of Investigation wiretap recording of a conversation between then Goldman Sachs director Rajat Gupta and Galleon Group founder Raj Rajaratnam. Listen. ...
05:09 PM, Oct 28, 2011
New Delhi: Rajat Kumar Gupta, aged 62, educated at IIT Delhi and Harvard Business School. Former Director, Goldman Sachs & Co-Founder of the Indian Business School. And now, an accused in an insider trading case, out on a $ 10 million bail. If found guilty, the poster-boy of Indian-American Wall Street success could face 105 years in prison. If Rajat Gupta's fall from grace was stunning, his rise in the...
08:03 PM, Oct 27, 2011
New York: A New York court has set April 9 as the tentative date for the trial of Rajat Gupta, former Indian American director of Goldman Sachs after he pleaded not guilty to insider-trading charges. India-born Gupta, 62, who had surrendered to the FBI on Wednesday morning, was freed after posting $ 10 million bond, secured by his home in Westport, Connecticut. But he was ordered to surrender his passport...
01:38 PM, Oct 27, 2011
Former Goldman Sachs director Rajat Gupta has been released on a $ 10 million bail bond. ...
01:26 PM, Oct 27, 2011
New York: Rajat Gupta, who pleaded not guilty to charges of securities fraud and that he passed insider information to his billionaire friend Raj Rajaratnam while he was director at Goldman Sachs and Procter & Gamble, was released on Wednesday on a $10 million bond. The 62-year-old Indian American had entered his not guilty plea at his arraignment at a US District court in New York on Wednesday. He was...
08:20 AM, Oct 27, 2011
New York: Rajat Gupta, a former director of Goldman Sachs Group Inc and Procter & Gamble, was arrested on Wednesday on insider trading charges, making him the most prominent executive to be accused in a broad US crackdown on illegal leaks of corporate secrets. Gupta, 62, surrendered to FBI agents on charges that he disclosed confidential information about Goldman and Procter & Gamble to his friend, former hedge fund manager...
11:42 PM, Oct 26, 2011
New York: Rajat Gupta, a former Goldman Sachs Group Inc director and former global head of McKinsey & Co, was in FBI custody on Wednesday on criminal charges related to his hedge fund manager friend Raj Rajaratnam, the central figure in a US crackdown on insider trading. An FBI spokesman said Gupta, 62, surrendered to agents at his home in Connecticut and he was driven to the New York FBI...
06:33 PM, Oct 26, 2011
New York: Raj Rajaratnam, a self-made hedge fund tycoon convicted in the biggest Wall Street trading scandal in a generation, was ordered to serve 11 years in prison, the longest sentence ever in an insider-trading case but far less than prosecutors sought. Thursday's sentencing caps a prosecution, marked by secret wiretaps of Rajaratnam and his associates that shocked the investment world. The Sri Lanka-born fund manager once stood atop a...
03:36 AM, Oct 14, 2011
New Delhi: Art fairs in India are entering digital space. The country's first online art fair, India Art Collective, will be held Nov 19-26, a private art promotion platform, Burgundy Art Pvt Ltd, announced Wednesday. India Art Collective co-founder and director Sapna Kar said, "India Art Collective will allow collectors and art lovers to discover a vast collection and newest trends at a single location from any place." "Some of...
12:15 PM, Sep 15, 2011
New York: Galleon Group hedge fund founder Raj Rajaratnam has lost a bid to have his conviction thrown out after he was found guilty on insider trading charges in May. US District Court Judge Richard Holwell on Tuesday denied Rajaratnam's renewed attempt for a judgment of acquittal on his conviction by a Manhattan federal jury on five counts of conspiracy to commit securities fraud and nine counts of securities fraud....
07:18 AM, Aug 17, 2011
