crimes and misdemeanors

Rajat Gupta’s Famous Friends Speak Up As Trial Starts

Photo: Bloomberg/2010 Bloomberg

The insider trading trial of former Goldman Sachs director Rajat Gupta starts today with opening statements and jury selection, but his powerful allies are rallying in public. On, loyal buddies like India’s richest man Mukesh Ambani and Deepak Chopra write to praise the accused cheater as a man of “great integrity.” Gupta faces 105 years in jail for allegedly leaking inside information to convicted Galleon Group hedge-funder Raj Rajaratnam. His extremely wealthy friends just don’t buy it: “He’s like a dolphin caught up in a tuna net,” explained ex-McKinsey principal Atul Kanagat, who runs the Gupta fan site. “The government refuses to admit it’s a dolphin and not a big fat tuna, and they’re not going to give up. That’s what my website is trying to do, tell the story about the other Rajat.” Blogs to the rescue, as usual.

Rajat Gupta Trial Starts Today