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- McKinsey, Akamai Open Probes in Galleon Scandal
- By Gina KeatingLOS ANGELES (Reuters) - McKinsey & Co and Akamai Technologies Inc AKAM launched investigations on Wednesday into accusations by the U.S. government that some of their employees were linked to the Galleon Group insider-trading scandal.McKinsey said it was conducting an internal probe to see if senior executive Anil...
- News items 2009-10-29
- Galleon moving assets into cash
- Brokers to the Galleon Group – the hedge fund whose founder and president, Raj Rajaratnam, is at the centre of insider trading charges – report it is rapidly liquidating its investments in anticipation of a wave of investor redemptions. "They're selling down their positions and moving to cash – they've...
- News items 2009-10-20
- Galleon Surrenders Ship Even as Its Funds Surge
- By Joseph A. Giannone NEW YORK (Reuters) - The Galleon Group, caught up in the largest-ever hedge fund insider-trading scandal, is liquidating its funds even as investors enjoy one of the firm's best years. On Friday U.S. authorities arrested Galleon founder Raj Rajaratnam, New Castle Partners' Mark Kurland and four...
- News items 2009-10-21
Additional Resources
- Galleon's reach
- Raj can mean king or princely in Sanskrit and, until last week, Raj Rajaratnam lived up to his name on Wall Street. Sent as a child from his native Sri Lanka to be educated in Britain and America, Mr Rajaratnam was among the most successful of a wave of US...
- News items 2009-10-23
- New Arrests in Galleon Case
- NEW YORK (Reuters UK) - Nine more people have been arrested in the Galleon Group insider-trading scandal, bringing to 15 the number charged in the biggest hedge fund-related case in history. The new arrests include Wall Street traders, lawyers and hedge fund managers, according to complaints filed in federal court...
- News items 2009-11-05
- Roomy Khan Tipped Several People in Galleon Case
- By Grant McCool and Jonathan StempelNEW YORK (Reuters) - Roomy Khan, one of several former traders cooperating with the prosecution of the biggest U.S. hedge fund insider trading case, told a judge she tipped several people at hedge funds with inside information on companies to make money from trades, according...
- News items 2009-11-12
- Roomy Khan Tipped Several People in Galleon Case
- By Grant McCool and Jonathan Stempel NEW YORK (Reuters) - Roomy Khan, one of several former traders cooperating with the prosecution of the biggest U.S. hedge fund insider trading case, told a judge she tipped several people at hedge funds with inside information on companies to make money from trades,...
- News items 2009-11-12
- Probe Widens in Galleon Case to SAC Capital
- CHICAGO (Reuters UK) - Federal prosecutors in the Galleon Group case have sent a subpoena to a former employee of Steven A. Cohen's SAC Capital Advisors, a sign that the scope of the problem into the largest hedge fund insider trading case in history is expanding, the Wall Street Journal...
- News items 2009-10-24
- Ex-AMD CEO Linked to Galleon Scandal
- SAN FRANCISCO (Reuters UK) - A former chief executive of Advanced Micro Devices AMD became the biggest name to be linked to the Galleon Group insider-trading scandal, when the Wall Street Journal reported on Tuesday that he leaked information about the microprocessor maker in 2008 to a hedge fund manager.Hector...
- News items 2009-10-28
- Galleon Paid Banks Millions For "edge"
- BOSTON (Reuters UK) - Hedge fund firm Galleon Group, whose founder has been charged with insider trading, paid $250 million (152 million pounds)to its Wall Street banks last year and in return received market information that other investors did not get, the Financial Times reported.New York-based Galleon, which invested $7...
- News items 2009-10-28
- Galleon Paid Wall Street Banks Millions For "edge": Report
- BOSTON (Reuters) - Hedge fund firm Galleon Group, whose founder has been charged with insider trading, paid $250 million to its Wall Street banks last year and in return received market information that other investors did not get, the Financial Times reported.New York-based Galleon, which invested $7 billion at its...
- News items 2009-10-29
- Galleon scandal's executive conundrum
- NEW YORK Fortune -- When last week the federal government arrested Raj Rajaratnam of the Galleon Group for masterminding a $25 million insider-trading ring, the biggest head-scratcher was the inclusion of Anil Kumar in the government's complaint. Kumar is a director of consulting powerhouse McKinsey & Co., owner of one...
- News items 2009-10-23
- Regulators Will Need A Solid Case To Sink Galleon's Founder
- For Galleon Group, a hedge fund firm whose lead portfolio manager has been accused of insider trading, the water just kept rising too fast around the ship's decks. But it is the regulators who are under pressure from an increasingly incensed public that ought to be careful how the game...
- Blog posts 2009-10-22
- New York agog at Galleon insider dealing allegations
- The Galleon Group insider trading scandal continues to grip New York two weeks after fraud and conspiracy charges were brought against Raj Rajaratnam, co-founder and one of America's richest men, and five others. Prosecutors allege that the defendants generated more than $25 million in illicit gains by exchanging privileged information...
- News items 2009-10-30
- New arrests in Galleon insider-trading case: sources
- Reuters BOSTON - Eight more people have been arrested in connection with the Galleon insider-trading scandal, sources familiar with the matter said. Federal and state authorities plan to announce charges against 14 new defendants, including the eight arrested, the sources said. The authorities scheduled a news conference at midday. The...
- News items 2009-11-05
- Galleon's 'Don't Ask, Don't Tell' Culture
- Matthew Goldstein submits: Galleon Group, the hedge fund at the center of a huge insider-trading case, appears to have been something of a swashbucklers’ haven when it came to compliance. As its founder, Raj Rajaratnam, fights charges of illegal insider trading, details have emerged indicating that Galleon...
- External links 2009-10-26
- How Galleon Got (and Lost) Its Edge
- Matthew Goldstein submits: The arrest of hedge fund millionaire Raj Rajaratnam on charges that he and his $7 billion Galleon Group hedge fund profited from illegal insider trading will no doubt feed suspicion in some corners about the way hedge funds generate fat profits. But for anyone...
- External links 2009-10-18
- How to Avoid the Next Galleon Group (or Madoff)
- Mebane Faber submits: The financial media has been all over the recent Galleon insider trading case (WSJ, ClusterStock, Fortune, HuffPo, etc). I’m actually a little surprised we don’t see more insider trading allegations – most of the hedge fund industry is built around information arbitrage. I remember...
- External links 2009-10-20
- Khan Tipped Several in Galleon Case
- NEW YORK (Reuters UK) - Roomy Khan, one of several former traders cooperating with the prosecution of the biggest U.S. hedge fund insider trading case, told a judge she provided confidential information to several co-conspirators, according to a court document made public on Thursday.Khan is one of at least five...
- News items 2009-11-12
- 8 trades the insiders allegedly made
- NEW YORK Fortune -- The government's case in what it is calling the largest insider trading case involving a U.S. hedge fund contains a detailed list of trades involving household-name companies. Investigators have pieced together a case that alleges more than $25 million in illegal gains based on trading in...
- News items 2009-10-19
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