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Former Senior McKinsey Principal Pleads Guilty to Fraud and Conspiracy in Galleon Case

Former McKinsey Principal, Anil Kumar, pleaded guilty to fraud and conspiracy in Manhattan Federal Court on 7 January. He was one of McKinsey's 400 senior partners, capital markets practice leader, and KPO thought leader. Kumar apologized to colleagues and admitted that Raj Rajaratnam, Galleon hedge fund founder, agreed to pay him $1.75 million for confidential information on a McKinsey client. He remains free on $5 million bail, and has agreed to pay $2.6 million as part of his plea deal, and could be sentenced to up to 25 years in March. The fine could have been $17.5 million, with a prison sentence on each fraud charge of 20 years and 5 years on the conspiracy charge. (Research Note includes copies of complaints - 650 words) . . . (to read the remainder of this article, please log in below.)
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