Raj Rajaratnam of Galleon Hedge Fund Group arrested charged with Insider Trading

Submitted by vinny on Fri, 10/16/2009 - 18:07.
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If you thought that Bernie Maddoff's Ponzi Scheme was the last hedge fund scam, then you were wrong. Galleon Group founder Raj Rajaratnam and five others have been arrested and charged in an $20 million insider-trading case. Gallen Group apparently has a Gallen Hedge Fund which invest in US Stocks.

Raj Rajaratnam, is the founder of the Galleon Group and portfolio manager for the Galleon Technology Funds. Rajaratnam along with others have been charged with four counts of conspiracy and eight counts of securities fraud. Galleon Hedge Fund has over $7 billion assets under management.

Does that mean over and over, average retail investors will be scammed by these high profile hedge fund managers? We lost billions in the Ponzi Scheme run by Bernie Madoff and now, Raj Rajaratnam almost repeated it once again. That simply means, its very easy to do insider trading in USA and make our hard earned money vanish. Later, government uses our tax money to fund these scamsters to improve their business.

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Raj Rajaratnam is released on bail for over $100 million
Submitted by Anonymous on Sun, 10/18/2009 - 14:43.
The funny part is Raj Rajaratnam is released on bail for $100 million. What a life? Do fraud, get caught by law and now out on petty cash. $100 million is petty cash when you scammed people for over $20 billion. This is just another Ponzi scheme like bernie maddoff.
Galleon Hedge Fund
Submitted by Anonymous on Sun, 10/18/2009 - 12:42.
It is possible that the whole Galleon fund is nithing but a racket. The government made the arrest of Friday to minimize the publicity and the effect onthe market. I think this is a RICO case and Galleon should be stopped from doing any trading, and have its assets frozen.

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