Raj Rajaratnam, Founder of $3 Billion Galleon Group Hedge Fund, Arrested

http://money.cnn.com/2009/10/22/mag...jaratnam_case.fortune/?postversion=2009102309

"The government alleges that Danielle Chiesi and Mark Kurland, who worked at the hedge fund New Castle, swapped illegally obtained information with Rajaratnam.

But the U.S. Attorney's complaint released last Friday includes conversations recorded by tapping phones owned by Rajaratnam and others involved in the case.

Chiesi then says, "You put me in jail if you talk... I'm dead if this leaks. I really am... and my career is over. I'll be like Martha [expletive] Stewart.""
 
$3 billion? You call that fraud? That's like a drop in the stinking bucket committed by the fat cats on the Wall Street. Just when will they go after those idiots who cooked up the CDOs and credit default swaps?

Oh yeah, you can't go after those who are "too big to fail". Is that why the FBI is now concentrating on the small fries who are too piss poor to have any connection with Geithner and Bernanke?
 
Quote from TraderZones:

Since you appear to lump yourself in "we", how about evidence of your success?
More...

How about evidence of YOURS? Since you want to "teach" as per your offer under educational resources section...
 
NEW YORK (Reuters) - JP Morgan Chase & Co <JPM.N> raised concerns about Galleon hedge fund founder Raj Rajaratnam and his associates as far back as 2001, the Financial Times reported, citing an internal company document seen by the newspaper.

Rajaratnam, 52, was arrested on October 16 along with five others in what prosecutors described as the biggest hedge fund insider trading case ever.

The 2001 note, written by an analyst at the bank's alternative asset management arm, said the unit "should reduce our allocation" in Galleon's technology fund, pointing to what it described as "more negative news about Raj and his cohorts," the Financial Times reported.

The JPMorgan note alleged that the principals of Galleon "liked to operate in the 'grey areas'" of the markets, the Financial Times wrote.

Representatives for JP Morgan and Galleon did not immediately return calls seeking comment.
 
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