Galleon’s Rajaratnam Paid Tipster, Filing Says (WSJ)
In a filing in Southern District of New York court, prosecutors said Mr. Rajaratnam made the payment in 2006 to an unidentified source for a tip about an acquisition of ATI Technologies Inc. by Advanced Micro Devices Inc., reaping $19 million in illicit profit.
Prosecutors: Expect more U.S. charges vs Rajaratnam (Reuters)
Prosecutors said that while the indictment in December “alleged that Rajaratnam was responsible for illicit profits of $17 million, at this time the government believes that the total illicit gains attributable to Rajaratnam’s illegal trading are at least approximately $36 million.” The memorandum went on to say that the government plans to file a superseding indictment “that will expand the charges set forth against Rajaratnam in the current indictment.”
Hedge Fund Goes ‘Mom and Pop’ (WSJ)
AQR is launching its seventh mutual fund.
Senator Chris Dodd Won’t Seek Reelection (Politico)
He and his hair are retiring at the end of the year.
Citi’s Havens Got $9 Million for ’09 (WSJ)
Ken Feinberg reviewed the structure but not the dollar amount of the investment banking chief’s pay package, because the executive wasn’t among the 20 highest-paid executives at the time of Mr. Feinberg’s review last year, according to a person familiar with the matter.
UK Treasury to cash in as bonus tax fails (FT)
Alistair Darling’s “allies admit the tax has not changed the behaviour of big financial institutions, but take comfort in the fact that the Treasury is set for a windfall of hundreds of millions of pounds just months before the election as a result.”