Gupta Announces “Leave of Absence” Once Again

March 13, 2011 James Heinsman Hedge Fund News

Rajat Gupta, former director at Goldman Sachs, has recently announced his plans to take “leave of absence” from the management of New Silk Route, the private equity fund that he co-founded years ago.

The firm is currently worth $1.4 billion, and Gupta plans to take his leave as numerous sources claim that he released inside information to the hedge fund billionaire Raj Rajaratnam regarding Wall Street Bank.

Founding partner and CEo of New Silk Route Parag Saxena has explained that the chairman is departing in order to “avoid any distraction and ensure New Silk Route’s continued focus.” The New York Post quoted Saxena as saying: “We will respect Mr. Gupta’s request. We believe that he will be exonerated.”

Gupta has been cut off from six companies until now, the first resulting from the Securities and Exchange Commission’s accusations of Grupta, claiming that he tipped his partner Rajaratnam by providing him with private information regarding Goldman and Procter and Gamble.

Goldman Sachs, Hedge Funds, New Silk Route, Parag Saxena, Raj Rajaratnam,

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