When Raj Rajaratnam was charged and ultimately convicted of insider trading, most people realized he would not be the only one hurt. His actions affected many more people than himself, including his family and the entire Galleon staff, who was rendered unemployed when the hedge fund was forced to shut down. Those employees now looking for a new source of income and healthcare provider don’t just include traders, analysts and admins, but the prostitutes Raj kept on payroll as well.
In March, 2007, the S.E.C. briefed the F.B.I. and the United States Attorney’s Office for the Southern District of New York, which opened a criminal case. That same month, an anonymous letter arrived at the S.E.C.’s offices, postmarked Queens, March 13, 2007. “…Prostitution is rampant for executives visiting Galleon,” the letter read. You will find that the Super Bowl parties for the executives, paid for by Galleon Group, include prostitutes and other forms of illegal entertainment. In return, the executives provide Galleon the unfair edge that the fund leverages so well.”
Who wants to be mensches? If you don’t have the cash to start them at $250,000/year, at least consider a bake sale.
[New Yorker via BI]
Will they accept payment in Euros?
–HR@ Munich Re
Do they take checks?
-Lenny Dykstra
Shares of Ligthsquared?
meeep….blurp……wuurp…durrp…….STAR……hurp……..
You should keep prostitutes on your staff not your payroll.
“I’m sorry, but if you want me to make you…well you know, I’ll need that 3Q earnings number.”
–Galleon hooker
Pics or it didn’t happen
We’ll take whatever you have to offer, just tell us where to pick up our bracelets.
Exactly. How would you go about explaining compensation to the IRS EOY?
-GMAT, Level II Candidate
We’re not just “hookers.” Do you know the schools we’ve been to?
-Hermon Raju