Rajat Gupta on rebuilding his life nearly seven years after insider trading conviction
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- เผยแพร่เมื่อ 21 มี.ค. 2019
- CNBC's Andrew Ross Sorkin interviews Rajat Gupta, who served 19 months in prison on federal insider trading charges. This is his first interview since being released from prison in 2016.
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Excellent interview. Watching this after seeing Raj Rajatnam's interview with Andrew Sorkin.
You can watch it too and contrast his style, tone, questions. The questions are much the similar. The tone is drastically different with Mr. Gupta enjoying the fruits of his reputation receiving low ball questions.
Despite all this, he does not hold revenge against anyone. And took everything as a learning. He surely will rise to something new!
Wall street is corrupt as hell.
It's a dirty business..infact you can't do business if you're honest.
@Dave 1977 Money talks everywhere, PERIOD.
Dave 1977 he certainly didn’t have much money to keep every rabid dog shut up ...
Although I don’t quite know why you’d want to keep him in a maximum central prison when we know all he can do now is write a book and yearn for telling a story which many may believe and many may not
I reckon you don’t quite get the idea of the imprisonments do ya ... :) we don’t lock away people we hate. We lock those who we know cannot ever change ...
They are common thieves, his humble demeanor is a lie, they steal from poor people who can not afford a lawyer let alone even know a lawyer on a first name basis. GIVE BACK THE MONEY YOU THIEVES!!
He is old. What else is there left for him to rise above?
Doesn't carry a forced American accent. Respect.
Dont be a moron. His accent is not completely Indian, its more polished version of Indian with slightly Americanized flow.
@@Kris108s If you had any brains you'd realize the difference between a forced American accent & a normal Indian accent in which Rajat Gupta speaks.
I agree. It's great he's maintained his normal accent even after many years in the US.
Wow! What smart conversation are we having here. 👏🏽👏🏽👏🏽 🙄 🤦🏽♂️
Only ignorant people would make any derogatory comment about anyone's accent for the man's brilliant first point being that he speaks multiple languages we're here in America the majority of people speak English only
I did time in the feds with gupta in devens federal camp
In 2013. Good guy wish him the best
wow, I thought they gave high profile persons different prisons?
Funny thing is, he's starting to look a bit like Larry King! Good questions and v straight answers. Nice interview!!
Rajat, the American justice system being fair is a mirage. They protect their own, even from immigrant prosecutors trying to showboat. Be wise, even though in hindsight, and start speaking about the unequal system of justice in America.
Amazing Interview. Rajat Gupta handled questions very graciously. Many good lessons to learn from this interview
I have great respect for Mr Gupta. What a humble person!
Same here. Like Raj, he was also a victim of a parasitic low-life prosecutor and a dysfunctional justice system that singled him out for being an outside.
Both are con artists
JP Morgan gets a 1 billion dollar fine for spoofing price action on silver. No one is sentenced at JPM and these guys get a 7 year sentance? WTbleep.
This is an excellent interview Andrew .
Very courageous man and honest with his answers. I hope you will achieve your next endeavor.
Lotus Root it was an amazing interview; very insightful and open.
They stole from the south African poor people, they stole MILK!!! Houses and EDUCATION, they are thieves, common thieves, KARMA comes around and I hoped he gets blessed so much that his guilt starts to teach him from the beginning about his conscience!
@@nealthomson9505 you go Neil.. those UNICEF ads are playing heart strings I see
I'm his fan from today for sure & really appreciate the Host with so much of grace, much appreciated
He is an honorable man and very believable. The sad part is that they tried to make an example out of him and being a minority he was easy target. Of all the crooks on Wall Street this was the best that they could come up with. Quite shameful really
An amazing life! I have great respect for this person. And I wish him well.
I feel truly sorry for Mr. Gupta. What he did was wrong and perhaps a momentary lapse of reason, but no one can take away the fact that he is one of the most humble, empathetic, brilliant professionals and human being you could come across. From extremely modest beginnings to the peak of corporate echelons, this man's extraordinary rise can only be matched by his swift fall from grace. Mr. Gupta - keep your chin up - God is watching and he is kind to people like you at the end of it all. God bless you and your family
Gupt gupt woh kya hai..arree gupt gupt
Excellent interview, Andrew Sorkin.Very well done.
@Dave 1977 It was a complement on Andrew Sorkin's interview abilities and not an opinion on the outcome of the case.
Sir Gupta,
You look very composed and very professional. I am common man I do not have the ability and information to decide what is right and what is wrong.
I totally agree with you that there are bigger white collar criminal out there who are still at large.
We proud of you that we believe you are right ad did not go settlement and prefer to go through hardship and all the best
in your fight and keep fighting till justice is done.
He is just another greedy business man who got caught with his pants down, he is not worthy of praise.
His attitude is nice :)
An eye opener..no matter how small the mistake is, intentional or unintentional has capability to destroy your whole reputation.
If is true, why every one didn't get equal justice
His crimes were intentional.
@@dougiesherwin9591 as long as crime pays well, there is absence of system to catch majority of criminals and criminals are accepted with open arms by society it will definitely keep happening with or without the mask intentional and unintentional.
Rajat has been a class act always and continues to be the same. He is a true professional and very correct in his approach! Sad to see that the Justice system chose to make him a scapegoat rather than go after the many in Wall Street who have had insider trading stains in their hands and were let off! As for Brahrara there is a GOD after all as he made it his mission to destroy fellow Indian Americans who have been standout citizens and achievers in the New World as professionals - doctors, lawyers, executives, businessmen etc. Rajat my friend wish you the very best as you are stellar person and can still do so much for the society at large! Good luck!
Bharara is a Khalistani, his wife is a Pakistani.
Natesan Ramesh agreed
@@DipakBose-bq1vv 😂😂😂 These things don't exist. British still wins. Indians always blaming everything on some other people.
He seems so honest! Very inspiring!
He seems honest, but he was not unfortunately
Seasoned liar
If the American legal system worked, at least some of its Presidents and their close aides would be in jail.
What a great personality,he surrendered to the laws of country, inspite overwhelming domestic and international support about integrity,he was made to face the term,faced it like a real hero with support of his family and admirer and his spiritual inclination and went by conscious why should I be comedown,when my true to my endeavour and conscious came like a hero to be welcome d by all self-made reputation.If any one dates to make a movie it will best runway success with towering versatile Amithabh Bachan.
great personality, seeing wisdom even in crisis . only when you believe in karma can you be free from trauma in crisis..The ugly truth of preet bharara should come out.
His only fault was that he was a successful Indian who reached the positions which were reserved for Whites only. As for Preet Bharara, like a typical Indian he wanted to assert his status to other Indians. Probably Rajat didn't invite Preet Bharara to any of the high profile parties or inner circle.
You said it. Bad Karma is finally catching up with those so called "White only" privilege. The once arrogant USA is now heading towards collapse as they failed to handle a pandemic appropriately. COVID-19 was the Chernobyl moment, January 6th was the Reichstag's being gutted. They deserve every bit of ending up in the penury in which Nazi Germany was at the end of WW2. MARK MY WORDS! I also hope to see Preet Bharara begging on the streets, where he truly belongs!
Whatever he did, he should now be forgiven as he did real time like a man and not snitch or cut some shady deal to keep his ass out of prison. He’s paid his dues. Everyone needs a fresh start.
Not testifying was the biggest mistake. But what was at risk back then, for doing it. Perhaps that's more intriguing.
Andrew Ross Sorkin is a great interviewer, and yes Rajat Gupta has no ulterior motive but to find redemption through alternative channels.
Thought provoking. Credit to the interviewer as well.
I think the phone call was quite damaging, a man of his stature can not do such mistake.
It was a sad day when i heard about it.
Great interview
He is a Rock star !! I am his big fan.He will sure rise again.💐 Wishing him all the best.
He is not a Rock star, he is an ex-con.
@@swisscottage1070 A lot of rock stars have been to prison. You can be an ex-con rock star.
This man was falsely convicted.
Did this reporter interview Preet Bharara? It would be interesting to get his side of the story. I just watched the interview with Raj Rajaratnam and now this one. I see some gaps in their stories. I don't think he was sentenced just based on the 16sec s call or without sufficicient proof. The defense lawyer could have disproved any exaggerated thins about the defendant. Is it possible the jury was overzealous?
Jury was not overzealous but they certainly had a tainted perception about any corporate at that time of financial crisis and when a prosecutor spins a narrative of illusion to punish a top corporate, in that context- it taints the perception for sure! And where is the concrete evidence? Why only circumstantial evidences ? If they were able to get Rajratnam on concrete evidences then why not Rajat ?
Excellent Questions Andrew Ross Sorkin !
I have so much respect for his guy for telling the unbelievable betrayal and injustice he faced with such grace!
is it betrayal? or he acted in good faith ( but carelessly) and paid for it. He is clearly very intelligent and capable man, but it was silly mistake.
He was indeed a Political Prisoner....but being as graceful as has, vindicates that. The interview is great training ground on how to be a crafty, incisive and respectful individual even under such trying circumstances, since these interviews are certainly not easy....great viewing...
ARS - Great interview! Rajat, As hard as this entire incident has been, you have been an example in how you have handled yourself through all this.. reflective, thoughtful and with no vendetta.. That is an example for all of us..
What a fascinating interview. I wish Mr. Rajat Gupta the best. Great job Andrew.
Here he comes out as a brave man and is so positive about everything.
I'm changing my comments after I started listening to his audiobook...., yet to finish;; a behemoth personality, son of a freedom fighter. Indian hindus are too honest for their own good for the wretched times (20th, 21st century).. Thanks for inspiring us,, persevering through such times..
I imagine the most emphatic word there ^ is "crafted."
Awesome Man!!
Ex con, nothing more nothing less.
My role model, my inspiration. Hope to be half the person you are Sir. You taught our generation that dreams do come true, if pursued with the right mindset and zeal.
Pray everything turns out fine for you.
You are supporting a criminal who tried try to take advantage of our financial system
Oh wow ! No wonder you are an Indian ! Let me screenshot your comment and send to every other university and company in the USA for supporting a criminal so that people like you don’t enter our country ever
Student of Dr. Subramanium Swamy. FMR PM of Manmohan Singh also wanted to save him
Ya, he was a student of IIT delhi that time
This is the problem with Jury trials. Happened with Arthur Andersen, where the prosecution just hammered into Jurors, how all of Arthur Andersen was really the mastermind behind Enron's books. They even lumped Business Consulting with Audit.
The untold story here is the corruption of Preet, his abuse of power, his ignoring facts that would have proven this man’s innocence. It is absurd to send a man to prison for making a phone call under these circumstances.
Completely agree.
Who’s preet
Really unfortunate. This was at the backdrop of 2008 financial crisis and this man took the fall for the sins of Wall Street.
Dude this guy gave insider info on TARP that not only provided a taxpayer bailout for financial companies but also allowed certain investors to profit from this.
@@almightyjagsosa Bharara. He got his just desserts.
Great interview. Good to hear his side of the story. I guess when you are in some board meeting, during break, you should not try to reach out to anyone in the investment business. Maybe not call them at least for a week. He did well.
Loved hearing about his side of the story. I truly trust his assertion that he didn’t do anything wrong.
Pradipta Dutta You must be extremely gullible then
@Dave 1977.....dude u a bot or any kind of program that replies the same for all comments😑😑✌🏾
He did do something wrong, he got caught giving insider trading data to a friend of his.
@@swisscottage1070 how about who steal Money 2008 financial crisis
@@newyorkcity76 I agree, they should all have been jailed however that does not mean Mr Gupta did not commit the breaches of confidentiality that he was prosecuted for.
Great guy ....may God give him the strength to rebuild his life.....and I would imagine he would do something for the less fortunate type of people he met in prison !
After watching this i started reading Raj Rajartnams book 'uneven justice' and read a very different perspective. For example rajat gupta says Raj took his money out of the voyager funds before it collapsed, but Raj's view is that he sold a 8m stake to Gupta for 5m (before the Financial crisis) and thats the money he took out. The leveraged fund collapsed after lehman went down and at that time Gupta expected Raj to compensate him for his total Investment. However I'm not fully convinced and will read guptas and preet bharata books next. For example I cant believe that someone like gupta expected all of the upside but not risk the capital. All these Indians have done well in the west but history may show them as corrupt. Theres no need to watch Billions just read these books.
Excellent interview.
Thank You Andrew for doing this interview and for presenting a more nuanced view. Rajat, Thank You for doing the book, for being on the show and while, I don't know if you are a saint (i believe you are innocent) but, your sage insights, prescient wisdom and lessons learned left an impressive mark on me.
Rajat had only one fault- he did not listen to Anita- his wife: to keep away from the scumbag Rajanathnam and to resign from Goldman Sachs board and secondly to give up work and retire
The impression left on me is that he is guilty and deserved to go to prison.
@@swisscottage1070 Guilty on all accounts ?
I have been so ill for a whole year. Being unable to return, being unable to reach out to people that might be missing me. I want you to know that take me as available upon my return. For whatever question you have. I am here for you. I understand you. Totally understand you cause I always told you the truth. This disease has been abusing me for such a long time and I cant explain it eithout sounding exotic.Anyone in my position just want some relief. I am here. Feel free to inquire. You guide.
Rajaratnam was not Indian, he was Sri Lankan
Martha Stewart was taken down for much smaller charges. These guys thought they were untouchable when they were flying high. Now they blame the good lawyers who helped them.
Let God give him peace 🙏🙏🙏
Has a good attitude about his prison time.
Nice Interview
The problem it's lot of bankers powerful people we already know who still they do wherever they want
A honest man ends up in jail with few bad people around.. Rajat is one of brightest, had a great run. His long time friend Anil Kumar betraying him to save his own jail time . The biggest regret for Rajat is trusting his close friends, who testified aganist him.
He got caught insider trading, he is an educated grown man who knew what he was doing but was greedy for more money
That’s How this world 🌎 works.
People are still not learning anything we came with nothing we are going to go with nothing.
His question about why none of the high profile bankers are ever prosecuted for the financial crisis is absolutely right. No idea why Preet targeted people like Rajat instead of the ones that are responsible for the financial crisis.
Absolutely - He was made as a scapegoat of the financial crisis ..... If a white man in his position when he got support from Bill gates , Kofi Annan and another 30 Top notch people of impeccable personalities who sent letters to the Judge. Read the Judge statement before sentencing him.... The price of color ......... Law for Whites are different for colored person.
Ridiculous! He revealed confidential information to personally benefit financially! To say he did not remember the critical 16 seconds smacks of ridiculous incredulity. Rajat Gupta seems to have no compunction about lying! He is trying to defend a stupid mistake he made. What nonsense! 🤦🏻♀️🤦🏻♀️ Go home man!!
It’s obvious who was the winner in all this: his lawyers. To the tune of $60mil.
Why did he accept lawyers that were foisted on him by the very organisation he was up against (Goldman).
Because Sachs paid the $60mil bill
Nice rusty fire place. Good background for the story
Pardon me for thinking it's an interview of Larry King
Those of you saying you have respect for this dude, how?! He’s a freakin crook! He’s as straight as a jalebi or Apu if you prefer!
In India, nobody comes out of prison in good shape. The conditions are terrible here. In the US, I guess prison isn't that bad. Prisoners have rights.
He has called Raj Ratanam for 16 second call about warren buffet investment to Goldman Sachs. Why? But he was a tipper to him.
the problem with his alibi about the call to Raj is that Raj immediately bought Goldman (more of) and Morgan Stanley and bank ETF shares. Gupta couldn't benefit from it directly without it being obvious, so he gave it to his MBA classmate and close friend instead.
American justice is not based on LOGIC !
Who was this partner at New Silk Route and what did he do to rajat gupta?
cell phone records ?? or even land line phone records ?
While there is no Saint without the past, Gupta broke the trust others had in him.
But he never received any kick backs. Why will anyone do something that he is convicted of without any benefit?
The info he mentioned on the tape wasn't confidential nor market moving. It was already public knowledge. He got in trouble for confirming that the info was discussed in the meeting. A witch hunt
Yet again bad advice from Attorney’s! He should of followed his gut and testified.
Indian reportors should learn from this reportor. Hats off to you bruh!!!
Reporter: Why did you write this 📕?
Raj: My prison mate told me to write a book because I can get paid. 😂😂😂😂
Some chronic or 'accidental' 'Sinners', our of their 'vices', became Saints, introspecting themselves first! ! However, in some cases, vice versa as well! This is an Universal TRUTH, Isn't it?
I'm amazed how many people fall for this kind of con-man.
Dang they just threw the Indian guys under the bus.
Why didn’t Steve Cohen go to jail? Can someone please explain? Really curious
Yes. His strategy was so simple. Hire people and tell them they need to perform and you don’t care how they do it. Watch their trades over time. Copy the trades of the guys that do well (meaning - that trade on inside info). Never speak to those guys. Ever. Fire the guys that don’t make $$$ (eg don’t trade on inside info). Keep copying the trades of the guys that make $ and trade on inside info. There you go.
Wonder who was the partner at new silk route that stabbed him in the back.
Seven years ? ! Get in touch with Pelosi . She'll show you how to do it , ' legally ' .
What kinda jail he went to?????
Federal prison where all white collar criminals go
He was a board of director at Goldman Sachs, board of directors are powerful enough to fire the CEO.
minute 37: 26 million fees; 10 million of 60 million legal fees (rest covered by insurance). net worth got cut in half.
Just like raj of Gililein . Both these guys fron yhd Indian subcontinent the culture there is a tear as much as you can
Why doesn't he talk about the LIBOR scandal??
Sir you are our role model during my IIT days..
Life is a miracle
Bharara is a Khalistani and his wife is a Pakistani.
Are you venting? or is there some truth behind this statement?
@@djtmaga639 Fake article.
@@praveensinha2032 He is some idiot smoking weed.
Working for other people makes one dumb...... his colleague from his company Anil kumar got away testifying against him and rajratnam...no doubt rajaratnam was a criminal... Not sure about Rajat gupta
There is not one broker trader on the Street with no violations of the law! Money power equals no jail time! Ask Steve Cohen he’ll tell u how he walked away with minimal inconvenience. Mr Bhrara was the man at the DA office then too!
He is a millionaire. He made enough money. So, seven years is not so bad.
Mr. Sir Rajatji, You are my shining lite. U R making to many truth but the peoples no like u. U make me feel to homely when u visit my shop in Manhattan to buy skittle candy. I luv u only
Raja was jailed too for 7 years. Now he is out and a very different man.
Interesting take. The lack of anger is a good Example!
And rajratnam wrote a book too...investors can turn anything to profit...even prison time. You should be an investor...
Mr. Gupta may or may not be guilty and I am nobody to pass judgment on the judicial system of the land but yes this interview shows how well Mr. Gupta adapted to one of the most difficult situations one can have in life and turn all negatives into positives.....Brilliant and Humble.
I have done nothing wrong - Al Capone
BS case with screwed up judge , no mettle in evidence, wasted everyone’s time and messed up an innocent
Dave 1977 if you go by the evidence, then anyone can be jailed
@Dave 1977 Exactly!
Insider trading should be legal. In fact, only insiders should be traders.
lol
😆😉😜
You win!
Mr Gupta should be given the Nobel prize for Insider trading
It really should be legal, if you happen to dedicate your entire day to the market and you happen to gather information that helps you make some decisions then it's no different than watching a sports analyst on ESPN and betting on a particular football or basketball game. It's information that anyone can get if they know the right ppl. If you don't know the right ppl then that's too bad, don't trade then. How tf do rapists/molesters get less time than insider trading? Someone pls explain this to me logically
@@swisscottage1070 some kind words for leamon Bros pls?.. and all the mfs who ran away with all the money.. 🕺