Ex-McKinsey Director says he is guilty of insider trading

Ex-McKinsey Director says he is guilty of insider trading

“From 2003 through 2009, Kumar and Rajaratnam, who met in the 1980s while they were both at the same business school, conspired to engage in insider trading,” a statement from US Attorney Preet Bharara’s office said, adding that Kumar received amounts ranging up to US$1 million in certain years. Kumar, 51, who left McKinsey after being put on indefinite leave, had been accused of providing insider information about McKinsey’s clients, including acquisition of ATI Technologies Inc by Advanced Micro Devices Inc.