McKinsey Partner P. Dikshit charged with insider trading
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Date: November 10th, 2021 2:11 PM Author: ocher exhilarant mediation lay
The Securities and Exchange Commission today charged Puneet Dikshit, a partner at a global management consulting firm, with illegally trading in advance of a corporate acquisition by one of the firm’s clients in September.
The SEC’s complaint, filed in federal district court in Manhattan, alleges that in the course of providing consulting services, Dikshit learned highly confidential information concerning The Goldman Sachs Group Inc.’s impending acquisition of the consumer loan fintech platform GreenSky Inc. According to the SEC’s complaint, in the days leading up to the acquisition announcement on Sept. 15, 2021, Dikshit used this information to purchase out-of-the-money GreenSky call options that were set to expire just days after the announcement. The SEC’s complaint further alleges that Dikshit violated his firm’s policies by failing to pre-clear these options purchases, which he sold on the morning of the acquisition announcement for illicit profits totaling over $450,000.
“We allege that Dikshit breached duties to his employer and his client by misusing their confidential information for his own financial gain,” said Joseph G. Sansone, Chief of the SEC Enforcement Division’s Market Abuse Unit. “Thanks to our trading analysis tools, we were able to move swiftly to hold him accountable for his actions and protect the fairness of our securities markets.”
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43418673) |
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Date: November 10th, 2021 2:27 PM Author: ocher exhilarant mediation lay
The consultant made his trades using an account in his name and one in his spouse’s name, according to the SEC. Evidence of Dikshit’s insider trading was found on his work computer, prosecutors said. On the day before the GreenSky deal was announced, Dikshit used Google to search: “what happens to options when company is acquired” and “greensky market cap.” He also used it to check his broker’s web page for information about $10 GreenSky call options, they said.
Three weeks later, after news of suspicious trading in GreenSky options, Dikshit used his McKinsey computer to run searches about Rajat Gupta’s insider trading conviction.
A MCKINSEY PARTNER
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43418762) |
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Date: November 10th, 2021 3:10 PM Author: Fiercely-loyal Locale Prole
"on his work computer . . . Dikshit used Google"
Estimate his IQ.
"Dikshit used his McKinsey computer to run searches about Rajat Gupta’s insider trading conviction."
lol.
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43419096) |
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Date: November 10th, 2021 3:07 PM Author: Mustard Regret
NEW YORK (Reuters) - A disgraced former McKinsey & Co partner told jurors he leaked secrets about the elite consulting firm’s clients in exchange for $1.75 million in hidden payments from onetime friend Raj Rajaratnam, the main defendant in the biggest U.S. insider trading trial in years.
Anil Kumar said the Galleon hedge fund founder told him: “You work very, very hard. You are underpaid. People are making fortunes ... so just keep track of your knowledge and share it with me.”
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43419061)
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Date: November 10th, 2021 2:15 PM Author: Henna Buck-toothed Alpha Weed Whacker
I wonder if activities by members of congress or their staff members or any of their family members ever get flagged by these "trading analysis tools"
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43418689)
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Date: November 10th, 2021 2:24 PM Author: Curious school cafeteria knife
this man is going to jail and threw away his career over 450k (that would have been taxed at 38% + if his state has tax).
Very smart people they are hiring over there
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43418740) |
Date: November 10th, 2021 2:26 PM Author: ocher exhilarant mediation lay
LMAO, holy fucking shit:
The consultant made his trades using an account in his name and one in his spouse’s name, according to the SEC. Evidence of Dikshit’s insider trading was found on his work computer, prosecutors said. On the day before the GreenSky deal was announced, Dikshit used Google to search: “what happens to options when company is acquired” and “greensky market cap.” He also used it to check his broker’s web page for information about $10 GreenSky call options, they said.
Three weeks later, after news of suspicious trading in GreenSky options, Dikshit used his McKinsey computer to run searches about Rajat Gupta’s insider trading conviction.
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43418755) |
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Date: November 10th, 2021 2:26 PM Author: ocher exhilarant mediation lay
P. Dikshit: when moon?
*three weeks later*
is dis veddy bad?
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43418758) |
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Date: November 11th, 2021 1:09 AM Author: Vengeful boyish windowlicker queen of the night
i really don't know but I think like a really strong person can make like 1m/year in consulting whereas it's commonplace for senior bankers and biglaw etc
this guy might've made like half that idk
from what I heard years ago the pay gap with ibanking is pretty bad to start and gets worse and worse
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43422761) |
Date: November 10th, 2021 3:09 PM Author: Fiercely-loyal Locale Prole
"Thanks to our trading analysis tools"
DESCRIBE your tools.
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43419086) |
Date: November 10th, 2021 5:20 PM Author: Thirsty floppy tank hairy legs
i burst out laughing at the google searches. Mckinsey must be so fucking embarrassed by how stupid this guy was. the extremely low iq execution is like 192928282928x worse for their brand than the mere insider trading itself. all they have is their reputation as smart people with good judgment.
maybe some animalistic reptile instinct kicked in and fucked with his judgment. you can execute these trades in <2 minutes on your phone without actually thinking much about what you’re doing.
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43420176) |
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Date: November 10th, 2021 5:37 PM Author: Thirsty floppy tank hairy legs
people have gone to india to escape insider trading charges. come to think of it indians are either really corrupt or really stupid because theres always some gupta in the news for white collar misconduct
seems like he had at least 3 weeks after the trades to gtfo. he should’ve like traded 20x more calls, cashed out at the very first opportunity into bitcoin, gone on vacation (maybe this buys him a few extra days), and never looked back
i guess hed probably be more fucked if they stopped him at the airport or something
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43420327) |
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Date: November 11th, 2021 11:31 AM Author: Hyperventilating old irish cottage
"following media reports of suspicious trading in the options, Dikshit sought permission to trade in GreenSky, and was denied."
https://news.yahoo.com/u-charges-mckinsey-partner-insider-143720952.html
He tried to retroactively get his trades approved.
Yeah he is really stupid.
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43424219) |
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Date: November 11th, 2021 1:07 PM Author: Thirsty floppy tank hairy legs
hahahahahahahahahahahahah LOLOLOLOL
holy shit. what was he trying to accomplish with this request? just drawing attention to himself? what if they somehow weren't even focused on him initially? One weird trick to keep the $500k after all? the sec HATES him
I do wonder what wouldve happened if he panicked and exited all the trades like 24 hours later (before the merger announcement) and took the secret to his grave.
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#43424943) |
Date: October 27th, 2022 5:26 PM Author: Learning Disabled Concupiscible Stain Native
Mr. Fox, I'm Henry Patterson with the Postal Inspection Service. This is Mr. Ebenhoffer from the U.S. Attorney's office, Evan Morrisey from the Securities and Exchange Enforcement Office.
You're under arrest Mr. Fox, for conspiracy to commit securities fraud and for violating the Insider Trader's Sanction Act.
The minute I laid eyes on you I knew you were no good.
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#45398147)
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Date: June 27th, 2023 2:19 PM Author: Mewling Pale Toaster Church Building
"A former McKinsey & Co. partner who pleaded guilty to insider trading on a Goldman Sachs Group Inc. acquisition said conflicts of interest and mistakes by his defense lawyers merit his release from prison.
Puneet Dikshit, who is currently serving a two-year sentence, said in a May 30 Manhattan federal court filing that he received a particularly harsh penalty because his lawyers at the law firm Kramer Levin Naftalis & Frankel failed to highlight his immediate remorse over his conduct and earlier efforts to turn himself in."
https://news.bloomberglaw.com/business-and-practice/ex-mckinsey-partner-who-traded-on-goldman-deal-seeks-jail-exit
(http://www.autoadmit.com/thread.php?thread_id=4961024&forum_id=2],#46480003) |
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