Galleon Group

  • raj-rajaratnam-air-guitar-260x362

    News

    Raj Rajaratnam May Have Compensated A Few Prisoners To Keep Himself In The Lifestyle He’d Grown Accustomed To

    Last August, a report came out claiming that Raj Rajaratnam was having the time of his life in prison. As someone who went to great lengths to avoid going to jail (not so much by staying on the right side of securities laws but by paying a high-priced lawyer to accuse people churning out supposedly […]

    / Jun 25, 2014 at 3:31 PM
  • rajrajaratnam

    News

    Raj Rajaratnam’s Prison Party Train Keeps On Rollin’

    If various sources are to be believed, Raj Rajaratnam is having the time of his life in prison, where he’s “reigning like a king,” “has a very delightful guy doing all sorts of stuff for him — sort of like a ‘manservant’,” enjoys a private en suite, balcony, and adjustable bed, and gets along smashingly […]

    / Nov 19, 2013 at 1:28 PM
  • rajprison

    News

    Raj Rajaratnam Is Having The Time Of His Life On The Inside

    If you took a random poll of family, friends, colleagues, and strangers on the street, asking them how they’d feel about going to prison, the majority if not all of them would probably say, “Not good.” For most people, prison is a place to steer clear of, for all the reasons you can think of […]

    / Aug 27, 2013 at 12:36 PM
  • raj-rajaratnam-air-guitar-260x362

    News

    Raj Rajaratnam Not Leaving The Big House Anytime Soon

    On the one hand, it’d be hard to argue that the former hedge fund manager doesn’t want to get out of the correctional facility he’s been in since December 2011; on the other, let’s not forget that prison is said to agree with him and that he not only is he in “good spirits,” but […]

    / Jun 24, 2013 at 12:31 PM
  • turneyduff

    News

    A Hedge Fund Trader Named “Baby Arm” Knew It Was All Over After Hearing The Tracks To “The Good Ship Galleon”

    As some of you may recall, the day after Galleon Group founder Raj Rajartnam was indicted on insider trading charges, the Post dug up a rap song that had been recorded years earlier called the Good Ship Galleon, commissioned, of course, by party animal Raj Rajaratnam. All we knew at the time was that the artists featured in the ditty went by the names Jesse Jaymes and Cleveland D, but not why this happened or the creative process that went into producing the tune. Lucky for us, Wall Street memoirist and Galleon alum Turney Duff happens to be on a first name basis with Cleveland D because he is Cleveland D, as we find out in Chapter 8 of The Buy Side. Sayeth Mr D:

    / Jun 6, 2013 at 6:06 PM
  • raj-rajaratnam-air-guitar-260x362

    News

    Insider Trading, Men Wearing Women’s Lingerie, Interviews While A Voice Over The PA System Asks Everyone To “Welcome The Lovely Porshah To Stage 3″: Just Another Day With Raj Rajratnam

    As those well-educated in the life and times of Raj Rajaratnam know, pre-prison, the big guy loved to 1. Make trades based on material non-public information and 2. Play pranks on his employees at Galleon, like introducing them to a dwarf and claiming he’d been brought on to analyst small-cap stocks, and bet them thousands […]

    / May 28, 2013 at 3:47 PM
  • garyrosenbach

    News

    Galleon Group Co-Founder Went From The Hedge Fund Capital Of The World To The Cutting Horse Capital Of The World And God Damnit, It’s Not About The Money Anymore

    Mr. Rosenbach was never charged with any wrongdoing. He resigned from Galleon just months before prosecutors Mr. Rajaratnam’s arrest, citing family health reasons. He briefly made news in early 2011 with reports that he was starting his own firm, but it never materialized and he all but disappeared from Wall Street. Mr. Rosenbach has finally […]

    / Apr 26, 2013 at 3:57 PM
  • News

    Rengan Rajaratnam Is Confident He’s Gonna Beat This Thing

    Raj Rajaratnam’s brother is in New York and is ready to become the first person in the government’s recent insider-trading crackdown to be acquitted by a jury of his peers.

    / Mar 25, 2013 at 3:47 PM
  • News

    Raj Rajaratman’s Little Brother Charged With Insider Trading

    Just in the nick of time.

    / Mar 21, 2013 at 4:35 PM
  • News

    Informant’s Assistance On Insider Trading Case Slightly Undone By Telling “Series” Of Lies To Government

    On the one hand, Roomey Khan’s assistance as a cooperating witness was “extremely substantial.” On the other, she seems to have told between 1 and 100 lies to government officials.

    / Jan 28, 2013 at 6:17 PM
  • david slaine

    News

    David Slaine, Government’s Undercover “Tip-Mining Machine,” Apparently Under The Impression Insider Trading Works On A 3-Strike Basis

    Remember David Slaine? For those who need a refresher, he is the former Morgan Stanley managing director and ex-Galleon trader who began working as an FBI informant in 2007 and who was outed for doing so by the Wall Street Journal in January 2010. At the time, we learned a few notable things about Slaine, some of them germane to his role in helping the government go after people trading on material non-public information, others special in their own way, like:

    1. He takes french fries, and perhaps all snacks, very seriously.

    In 1993, Slaine triggered a fist-fight with a colleague on the trading floor after needling him because he wouldn’t share his french fries. Others broke up the fight.

    2. He doesn’t wait for people to towel off and get dressed before knocking their teeth out.

    One morning early in 2001, before trading began, Gary Rosenbach, then was the No. 2 executive under Mr. Rajaratnam, and Slaine were in a steam room together after exercising at an Equinox Fitness Club. Mr. Rosenbach was pressuring Mr. Slaine to improve his performance. As Mr. Rosenbach lay on his back on a bench, Mr. Slaine punched him, giving him a black eye and ending their friendship.

    3. Humans aren’t the only ones often asked “you want a piece of me?”

    He once smashed a computer keyboard in a fit of rage, says a person familiar with the incident.

    4. While working on Wall Street, he eschewed the traditional channels of employee recruitment (Wharton, etc), preferring instead to pick up fresh analysts at the club.

    While at Morgan Stanley, he met [Craig] Drimal, then a nightclub bouncer at the Vertical Club in Manhattan. The two quickly formed a friendship based on a shared passion for weight lifting and their mutual ability to bench-press 400 pounds…Shortly after arriving at Galleon, Mr. Slaine persuaded Galleon officials to give a position to Mr. Drimal, who then was working as a bouncer at the Roxy nightclub in Manhattan.

    5. Being a person with whom he “formed a friendship based on a shared passion for weight lifting and [a] mutual ability to bench-press 400 pounds,” possibly the greatest line written about anyone who’s ever worked on Wall Street and which which cannot be said enough, means little in the long run if he knows you’ve been playing it fast and loose with securites laws.

    In July 2007, the FBI showed up at Mr. Slaine’s door on W. 57th Street in Manhattan and confronted him. Mr. Slaine agreed to help the government. At the time, federal prosecutors in Manhattan were trying to make headway on another investigation that eventually led to the charges involving Galleon. They asked Mr. Slaine who he knew that might be participating in insider trading. Mr. Slaine’s answer: his friend Mr. Drimal, according to people familiar with the matter. In September 2007, Mr. Slaine—identified in the complaint as CS-1—tried out his body wire for the first time, meeting Mr. Drimal in New York. During the meeting, Mr. Drimal gave Mr. Slaine a piece of paper with four stock symbols, according to the complaint. He told Mr. Slaine the four companies were all acquisition targets. At the meeting’s end, Mr. Drimal told Mr. Slaine to destroy the list. He warned him to “be careful” in trading the securities because no news of the takeovers had surfaced publicly…After the meeting, Mr. Slaine went to a nearby hotel where an FBI agent was waiting, says a person familiar with the matter. The pair went to a room where Mr. Slaine removed the wire.

    Anyway, Bloomberg recently checked in to see what Slaine’s been up to these last couple years and other than his “multi-year experience” with the FBI being “tremendously traumatic,” he seems to be doing pretty well.

    / Dec 3, 2012 at 1:16 PM
  • News

    The Universe Has Good News And Less Good News For Rajat Gupta

    The less good news is that a jury found the former McKinsey executive guilty on three counts of securities fraud and one count of conspiracy for passing material non-public information to his friend*, convicted insider trader Raj Rajaratnam. The good news:

    1. Rajat could go to jail for twenty years but probably won’t (“Gupta faces up to 20 years in prison on each of the fraud charges and up to five years for the conspiracy charge. But his sentence is likely to be significantly lower under federal guidelines.”)
    2. Sentencing is scheduled for October 18 so he’s got the whole summer and then some into a Zen place about going to prison. Also! Plenty of time to do all those things he was too busy for when he was working. This is gonna be his time. Time to taste the fruits and let the juices drip down his chin. The summer of Rajat!

    Gupta Found Guilty Of Insider Trading [WSJ]

    *Friend Rajat’s ass.

    / Jun 15, 2012 at 12:22 PM
  • News

    Not Being Privy To Inside Information Was Grounds For A Level Three Rage Stroke At Galleon

    After Raj Rajaratnam got what prosecutors say was an illegal tip about Goldman Sachs Group Inc. (GS), a partner at Galleon Group LLC who was excluded from the trade turned red-faced and angry, a witness at the Rajat Gupta trial testified. Prosecutors claim that Gupta, who was a Goldman Sachs director, tipped Rajaratnam on Sept. […]

    / May 23, 2012 at 3:45 PM
  • News

    There’ll Be No Extra Mayo For Raj Rajaratnam Come Monday

    This weekend will be the Galleon founder’s last one on the outside for a while.

    / Dec 1, 2011 at 4:17 PM
  • News

    Judge Graciously Allows Raj Rajaratnam To Enjoy One Last Black Friday

    The convicted insider trader, who was previously scheduled to report to prison for an 11 year sentence at the end of the month, was granted a few extra days of freedom. He’ll now have ’til December 5 to dance like nobody’s watching. [WSJ]

    / Oct 31, 2011 at 7:08 PM
  • News

    Rajat Gupta Not Sweating This Insider Trading Business

    As you may have heard, yesterday morning, former McKinsey managing director Rajat Gupta was charged with insider trading. Is he worried he might be headed to jail in the not too distant future? Not in the slightest. Because 1) As previously mentioned, that time he took part in a fall 2008 conference call with GS […]

    / Oct 27, 2011 at 9:44 AM
  • News

    Feds Deny Raj Rajaratnam’s Postmortem

    According to a spokeswoman for Manhattan U.S. Attorney Preet Bharara, “a number of the assertions” made by the convicted insider trader in a recent profile for which he cooperated were “inaccurate.” Whether they’re referring to everything he said or to a) Raj’s claim that he was offered a plea deal to wear a wire b) […]

    / Oct 24, 2011 at 6:35 PM
  • insider-trading

    Raj Rajaratnam Was Done In By Multiple Moles

    Less than two weeks ago, Raj Rajaratnam was sentenced to 11 years in prison, after being convicted on 14 counts of securities fraud and conspiracy last May. Over the course of the trial, Raj had remained silent, choosing not to take the stand on his own behalf and offering no sound bites to reporters outside […]

    / Oct 24, 2011 at 12:03 PM

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