Puneet Dikshit of McKinsey arrested for security fraud

40-year-old Indian American Puneet Dikshit working as a partner at the consulting firm McKinsey was arrested on November 10 after being charged with insider trading. He was accused of using nonpublic information to make illegal profits in the market in the tune of around half a million dollars.

Dikshit is charged with insider trading ahead of the acquisition of fintech company GreenSky by Goldman Sachs for $2.22 billion in September. He was a key advisor to Goldman Sachs for the deal. 

Earlier in 2012, former McKinsey CEO Rajat Gupta was convicted for insider trading and sent to two years in prison. 

“He exploited his access to the material nonpublic information about a pending acquisition of GreenSky Inc. to trade in GreenSky call options and allegedly reaped half a million dollars in illegal profits,” Damian Williams, the US Attorney for the Southern District of New York said. 

Dikshit, who lives in New York, has been charged with two counts of securities fraud, each of which has a maximum sentence of 20 years in prison. 


Image courtesy of (Courtesy – CNBC)

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