Siddharth Gupta
Partner - White-Collar Crime
Investigations | Financial and Statutory Audit | Remediation Strategies
Overview
Siddharth is a Partner in the white-collar crimes practice at Trilegal. He has significant experience in leading complex cross-border and internal investigations related to bribery and corruption, financial statements fraud, accounting and procurement frauds, data theft and code of conduct violations. With his expertise in forensic accounting and forensic technology, he has successfully led some notable investigations involving the US Department of Justice and Securities and Exchange Commission, various multilateral development banks including the Integrity Vice Presidency of World Bank, Japan International Cooperation Agency and the Asian Development Bank, as well as the Securities and Exchange Board of India and the Department of Vigilance and Anti-Corruption.
As a lawyer and Chartered Accountant, Siddharth works closely with the audit, and ethics committees of companies to provide guidance on financial and statutory audit aspects, associated reporting and disclosure obligations, and remediation strategies in fraud and corruption investigations. He regularly advises companies on data privacy in internal investigations, as well as anti-money laundering, anti-corruption and sanctions related issues.
In addition to investigations, Siddharth has significant expertise in conducting anti-bribery anti-corruption due diligence during M&A transactions, fraud risk assessments and enhancing compliance programs. His diverse client portfolio spans across sectors including renewable energy, oil and gas, construction, consulting engineers, pharmaceuticals, alcoholic beverages, private equity, investment funds, fintech, automotive components, and banking and finance.
Education
- Integrated School of Law
- Institute of Chartered Accountants of India
- Association of Certified Fraud Examiners
Admissions
- The Bar Council of Delhi
Select representative clients/matters
Cross-border and internal investigations:
- Investigation into the allegations of misrepresentation and bribery of public officials in relation to commissioning of a solar power plant, for one of the largest solar energy portfolio holders of India. The investigation included review of technical and financial information, extensive review of email correspondences, conducting interviews and self-disclosures to SEC and DOJ. Advisory to the audit committee of the client on dealing with various global legal counsels, statutory auditors and their forensic teams, advising in relation to conclusion of statutory audit and reporting obligations in light of their resignation.
- FCPA investigation into the allegations of payment of bribes by a large Indian construction company on behalf of its US based customer. The investigation involved extensive review of financial transactions along with their supporting documents such as agreements, proofs of performance and invoices. Legal advisory with respect to various regulatory information requests, both in India as well as in US.
- Investigation of financial improprieties by regional head in collusion with the auditors of the company leading to revelations of bribery and corruption in public procurement, on behalf of a leading US-listed specialized equipment manufacturing company. Advising the audit committee of the company to smoothly conclude the statutory audit and regularize the financial statements of the company.
- Investigation into manipulation of financial statements by the CEO of the Indian subsidiary of a Japanese software company. The modus operandi included manipulation of timesheets to inflate deferred revenue, to achieve higher annual incentive figures. Legal advisory on implications under Indian laws and employment advisory on termination of employment.
- Investigation involving third parties in the Indian arm of one of the largest alcoholic beverages company on issues of bribery and corruption. The review involved identification of high risk third parties, conducting extensive review of financial documentation including selection process and financial transactions, conducting interviews of third parties and employees and suggesting mitigating and remediation factors.
- Investigation into bribery and corruption of non-cooperative banks by the Indian subsidiary of a Japanese software company. The modus operandi included use of third-party intermediaries and manipulation of internal accounting records to generate and hide the payments. Advisory to the independent investigation committee in Japan, and related public disclosures, legal and employment actions against employees involved and related advisory in relation to anti money-laundering and anti-corruption laws.
- Advised an Indian entertainment and media house in a joint venture with a US listed media company on an internal investigation into allegations of financial fraud and misstatements and reporting to SEBI.
- Conducted an internal investigation into the sales operations, fictitious deals and commissions, highlighting a fraud of more than USD 100 million in a Fortune 500 Fintech Company.
- Advised a French infrastructure and construction company on investigation into allegations of fraud, corruption and misrepresentation for its various multilateral development banks’ funded projects.
Conducted an internal investigation into allegations of conflict of interest, data theft, and non-compete breaches at a portfolio company of a US private equity firm, where the investee was engaged in the business of manufacturing and distributing nutraceuticals. - Advised a leading Indian solar energy developer in investigating the procurement fraud and kickback allegations.
- Advised a US medical devices company on an internal investigation into allegations of inflated and fraudulent sales by distributors of its products selling to government channels in India.
- Investigation into one of the leading housing finance institutions in relation to the allegations of ever-greening of loans, conflict of interest and internal controls.
- Investigation into the allegations against the CEO for hiring of relatives and payments to erstwhile equity owner of a large insurance company with US parent.
Compliance due diligence and policy enhancements:
- Anti-bribery anti-corruption due diligence on behalf of leading global real estate company into acquisition of portfolio of solar, wind and hybrid power plants for setting up power projects in India in the states of Rajasthan, Karnataka, Andhra Pradesh and Gujarat, involving review of PPAs, schemes and MOUs, land acquisition and due diligence.
- Anti-bribery due diligence on behalf of leading funds into acquisition of stake in various distressed and functional companies such as fragrance manufacturing, highway toll operators and automotive components manufacturers.
- Overhauling of compliance program involving anti-bribery and anti-corruption, whistleblower, code of conduct, third-party onboarding and monitoring, due diligence and background checks for various companies in sectors such as aviation, pharmaceuticals, consulting engineers, manufacturing and solar energy.
- Conducted compliance trainings covering FCPA and UKBA for various companies in sectors such as pharmaceuticals, EPC, medical devices, engineering and consulting.
- Conducted integrity checks on various promoter groups on behalf of various global PE funds and investors for M&A acquisition matters including discreet intelligence and subscription-based database checks.
- Conducted fraud risk-assessment of the Indian subsidiary of one of the largest global automotive components manufacturer in CSR, scrap and procurement functions.
Recognition
- ‘40 under 40’ by Global Investigations Review, 2024
Affiliation
- Association of Certified Fraud Examiners
