05/18/2010 01:19 pm ET | Updated May 25, 2011

Anil Kumar, Ex-McKinsey Director, Fined $2.8 Million In Galleon Settlement

A former executive at McKinsey & Company agreed Monday to pay $2.8 million to settle civil charges filed by the Securities and Exchange Commission, after he pleaded guilty to criminal fraud charges related to the Galleon Group insider trading case.

The former executive, Anil Kumar, 51, had admitted in January that he passed on confidential information about clients to the hedge fund's founder, Raj Rajaratnam.