In yet another instance of financial fraud that have emerged like Akshay Kumar’s Films in the last year, Galleon Group’s billionaire founder, Raj Rajaratnam, was charged Friday in a sweeping, $17 million insider-trading case (btw notice how amazingly fast a concept like wikipedia updates on even biographies!)
I have never heard of this dude, but apparently he is a billionaire! So strange that he would do this for 17 mil…! So either its a false case or the hole is deeper than visible!
Also arrested in the case is Anil Kumar, Director at Mckinsey. Now a director at Mckinsey is pretty big…its a senior partner level…something that is achieved only by nomination and election. So this could be a big dent to the company (woohoo!!)…imagien clients resting seriously confidential data in consultants hands, only to realize that the same information is being used for personal gain! Well, honestly, this shit happens all the time, but being caught is not cool. Especially when you are Director Mckinsey
Unfortunately, Anil also happens to the Board Director at ISB. Which SUCKS, because this dude’s working will impact the rather fragile branding perception that ISB is going through this year. Its rapid rise in the first 6 years brought with it a lot of critics…people who love to lap onto the fact that ISB has been now involved in 2 financial scams…starting with Dean Rao and Satyam and now this!
ISB has started its band-aid solution by asking Anil to step down, but the damage might have been done! Especially when it comes to people commenting on whether “this is what ISB teaches its students!”
It hurts! But such is the price you pay for being in the limelight!