This is the Westport, CT home of Indian-American businessman Rajat Kumar Gupta, a former Goldman Sachs director and board member, who also was once the global head of elite consultancy McKinsey & Company, and his wife AnitaMattoo Gupta. In his capacity at McKinsey, Gupta was recognized as the first Indian-born CEO of a global corporation.
The home, located in Greens Farms, a section of Westport, CT, was once owned by James Cash Penny, Jr., co-founder of J.C. Penny Company, Inc., best known for JCPenny stores. Mr. and Mrs. Gupta purchased the 2.28 acre property in 1999 for $6,125,000 ($6.125 million). They have done a lot of renovation to the original home, which was built in 1920, as evidenced by the BEV images. The current assessed value of the home is $12,482,000 ($12.482 million). It contains 8 bedrooms and 8 bathrooms and overlooks Long Island Sound. The home was featured in an article on Mr. Gupta in Bloomberg Markets magazine in the July 2011 issue.
Mr. Gupta also owns an apartment in New York, NY, a ranch in Pagosa Springs, CO, and a waterfront home in Palm Island, FL.
“On October 26, 2011, Gupta was arrested by the Federal Bureau of Investigation on charges of securities fraud and conspiracy as part of an ongoing and wide-ranging insider trading case in which Gupta's close associates Raj Rajaratnam and Anil Kumar were convicted and pled guilty, respectively.” “The SEC had said Gupta passed illegal tips to Raj Rajaratnam about Goldman, including a possible multibillion dollar investment from Warren Buffett, as well as tips about Procter & Gamble Co, where Gupta was also a director.”
“The Securities and Exchange Commission sued Gupta the same day. Gupta entered a plea of not guilty and was released on $10 million bail. Previously, from March to August 2011, the SEC had filed administrative suit against Gupta, been countersued by Gupta, and then dropped those charges. During that period, Gupta's conversations on tape with Rajaratnam, particularly those made while Gupta was a board member of Goldman Sachs, were played during Rajaratnam's trial and attracted widespread attention and notoriety. In the lead up and wake of the original SEC charges, Gupta resigned the majority of his corporate and philanthropic positions.”
Rajat Gupta’s associate, Raj Rajaratnam, is the founder of Galleon Group, which was one of the largest hedge fund management firms in the world, managing over $7 billion, before closing in October 2009. The firm was at the center of a 2009 insider trading scandal that resulted in investors pulling capital from the firm rapidly. Raj Rajaratnam's Greenwich, CT estate is also featured on this site.
The following details provide significant details on Rajat Gupta background, insider-trading scandal, as well as pictures of the property from a local magazine:
By Turneasterne @ 2012-01-02 14:58:27