Galleon Clients Abandon Ship (WSJ)
Redemption requests are up to $1.3 billion (out of $3.7 billion) so far and Bank of America Merrill Lynch and Barclays have told Galleon they will no longer trade securities positions with the fund.
Prosecutor In Galleon Case Makes A Splash (WSJ)
“What former Manhattan U.S. Attorney Rudy Giuliani did to the mob is what Preet Bharara will do to Wall Street.”
Wall Street On Edge As SEC Top Cop Gets Aggressive (Reuters)
Also on your list to fear: “Robert Khuzami, who convicted the “Blind Sheik” and his ring of bomb plotters in that trial, is targeting a different kind of villain — corporate executives, traders and fund managers who dare to break securities laws. About six months into his job as the U.S. Securities and Exchange Commission’s enforcement director, Khuzami, who was handpicked by SEC Chairman Mary Schapiro, has shaken the agency to its core with reforms designed to ensure it does not miss the next Bernard Madoff.”
Galleon Traders Seek Legal Advice, Update Resumes (Bloomberg)
Downplay having worked for Raj-Raj, etc.
NYC Judge Tosses $10 Million Suit Against Biden’s Son, Brother (AP)
Stephane Farouze didn’t lay out his allegations against Hunter Biden and James Biden ”with any meaningful degree of particularity,” Manhattan state Supreme Court Justice Bernard J. Fried wrote in an order filed Friday.
10 More People To Be Charge With Insider Trading This Week (Bloomberg)
Some related to the Galleon case, some not. Let’s take bets on who they are!
Rajaratnam’s Letter to Employees (WSJ)
“I am innocent and will vigorously defend myself and our firm. As I move forward on my defense, I want to assure you that our commitment to our investors and employees will remain unwavering. I will continue to be here working for Galleon, and the firm will continue to serve its clients with effectiveness and integrity.”
Anyone have some Galleon swag they would like to sell? There’s space next to my Bear mug and Lehman squeezeball.
all tubby sri lankan all the time!
Next? Falcon and Richard Heene
Handbridge expecting inflows of funds, resumes.
next? ping jiang.
So an Indian attorney is set to crush this Sri Lankan swindler? Someone butter the popcorn…
@6 A fat Sri Lankan swindler
More of a squish than a crush
Is Raj still in the can?
He came dancing across the water
With his galleons and gums
Raj-Raj, Raj-Raj
What a glutton
~N.Young
I’m pretty sure Raj sang this to his employees during the pep talk:
I will go down with this ship,
I won’t put my hands up in surrender,
There will be no white flag upon my door,
I’m in love, and always will be!
Rick James
John Mack should be brought up on insider trading charges, only he won’t be. Too many Congressional Whores are on his leash!
@10 made me laugh. That is one funny image
Go on now! go walk out the door!
just turn around now
’cause you’re not welcome anymore
weren’t you the one who tried to profit on those lies
you think I’d crumble
you think I’d lay down and die
Oh no, not I
I will survive
as long as i know how to trade
I know I will stay alive
I’ve got all my life to live
I’ve got all my love to give
and I’ll survive
I will survive
this whole big deal is only for $18 mil? Right? largest HF insider trading case & its only for $18 mil? pennies. dude. pennies.
@15 That’s all they have evidence for. You can bet that a good part of that $1.3B involved using the “edge”.
@15:
Then ask yourself whether it’s worth 20 years in federal prison for “pennies.”
Isn’t there a movie?
…Scumbag Billionaire?
@17
Ask yourself if 20 years in federal prison makes sense for the “crime?”
TGFD and almost everyone else in Delaware all know that Hunter Biden is a f’n asshole.
The Guy from Delaware
Anal_Yst@#19…
Unless TGFD missed the point of your satire, I would guess that you don’t think $18 Mil is a lot of money.
It is to me and to most everyone else in the country.
The Guy from Delaware
Committing fraud for $18M in profits is the new not making any sense