New Delhi: Anil Kumar, a former McKinsey & Co director accused of leaking information in the Galleon hedge fund case, has agreed to waive indictment in the case, signalling that he may have reached a deal with prosecutors that could include a guilty plea.
According to a court document filed on Wednesday, the US attorney`s office in New York said it intends to file more documents related to Kumar`s case with the court. Such documents, known as an "information," typically indicate some sort of deal between prosecutors and the defendant has been reached.
Robert Morvillo, a lawyer representing Kumar, did not immediately return a call seeking comment. A call to prosecutors was not immediately returned.
McKinsey on December 4 said Kumar had left the firm, after he had been placed on indefinite leave.
Earlier this month, Galleon founder Raj Rajaratnam and Danielle Chiesi, an executive at New Castle Funds, pleaded "not guilty" to charges of securities fraud, after the two were indicted in what prosecutors contend is the largest insider trading ring bust in history.
Prosecutors had accused Kumar of providing inside information about Advanced Micro Devices Inc, a company he advised, to Rajaratnam.
The men had become friends while attending the Wharton School at the University of Pennsylvania.
Earlier this month US prosecutors filed court papers saying they would agree to delay the indictments of four of those arrested in the Galleon case, while going ahead with formal indictments of Rajaratnam and Chiesi.
According to the documents, prosecutors agreed not to file indictments against Kumar, former International Business Machines Corp executive Robert Moffat, a former Intel Capital employee, Rajiv Goel, and Mark Kurland, an executive who worked at New Castle Funds with Chiesi.
Six traders or lawyers have previously pleaded guilty in the case.