6/27/2023 0 Comments Book on rajat guptaAttorney Preet Bharara, Rajaratnam was viewed as a giant in the hedge fund world and one of the most successful South Asians in America. It sent shudders through the hedge fund community. Similarly, the media coverage of the arrest of hedge fund manager, Raj Rajaratnam-his photo as he was paraded out of his Manhattan apartment in handcuffs by FBI agents-was televised again and again. He was sentenced to two years in prison and saw his reputation devastated by the case. For instance, the widespread media coverage of the prosecution of Rajat Gupta, the three-time chairman of consulting firm, McKinsey, and a director at Goldman Sachs and Procter & Gamble, sent a powerful message to directors on corporate boards that trading in confidential information was not only punishable by law but could also lay low revered corporate icons like Gupta. By raising the profile of white-collar fraud cases the media ensures that there is a broader, deterrent effect that extends deep into a community and often well beyond it. The other, equally important component, is the role the press plays in making sure these cases get wide visibility. What role do you think the news media currently plays in combating fraud?īringing cases against fraudsters is simply one part of fighting fraud. Investigative journalist, author of The Billionaire's Apprentice and keynote speaker at the 2016 ACFE European Fraud Conference, 20-22 March in Brussels
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