Galleon Hedge-Fund Scam: The Rogues Gallery
November 09, 2009 10:40 AM
Federal authorities are billing the hedge-fund insider trading scam as the biggest ever in the US. Manhattan based federal prosecutors have charged twenty individuals, the prime accused being Raj Rajaratnam, the founder of Galleon Group LLC. Evidence includes wiretaps, witnesses testimony as well as trail of trading records. Surprisingly, former AMD CEO Hector Ruiz, who has been linked to the case, has not been charged. Of these twenty, one is absconding, a few are behind bars, while some are on bail.
Some of the key players in this scam include Raj Rajaratnam, Sri Lankan born, MBA – Finance from Wharton. He is accused of making millions of dollars in insider trading. Roomy Khan, a former Intel employee is accused of passing sales information to Galleon, as is Rajiv Goel, a former Intel Capital employee.
The Galleon scandal rogues gallery ranges from analyst at Moody’s, and New Castle Funds LLC co-founder to a former director at McKinsey and Company. This just goes to prove the breadth and the wide reach of the scandal that has taken everyone by shock.
