Galleon Group

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 with his fellow inmates, who can’t help but notice how downright svelte he’s become. All that’s a good thing, as we’ve just received word he won’t be leaving any time soon. Read more »

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 (living in a cell, isolation from the outside world, bad food, low paying jobs, daily risk of sodomy) and probably some you can’t.

Not too long ago, hedge fund manager Raj Rajaratnam counted himself among those who for whom jail time was something to avoid (if not by being an upstanding, law-abiding citizen than by hiring a high-priced attorney to try and get him off after being charged with 14 counts of conspiracy and securities fraud). But now? After having served 21 months of his eleven-year sentence? Raj can honestly say that this prison is great.

And not because hard time forced him to take a serious look at his life or to think about what he’d done or change himself for the better or any of that metamorphosis type crap, but because minus the not being allowed to leave the grounds rules? Raj’s life in prison is arguably better than his life on the outside, which did not include servants or a 34 inch waist. Read more »

  • 24 Jun 2013 at 12:31 PM

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 looks better than ever. Read more »

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 of dollars they didn’t have the stomachs or balls to stand at the back of a room and allow a Taser International executive to use their bodies to demonstrate what kind of heat the company’s latest products were packing. How else did Raj-Raj keep the yuks coming (in addition to asking junior female analysts researching Lululemon to don a pair of black spandex pants and walk back and forth across the conference room table in them so people could really get a good look under the hood)? According to a new book called The Billionaire’s Apprentice: The Rise of The Indian-American Elite and The Fall of The Galleon Hedge Fund, vetting potential employees in between lap dances and making male staffers wear g-strings played a part. Read more »

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 resurfaced, in Texas, as an accomplished amateur “cutter,” a sport in which horseback riders separate one calf from the cattle herd. Earlier this month, in Fort Worth, he won the National Cutting Horse Association Super Stakes Derby Amateur Championship aboard his horse, a mare, Scooters Daisy Dukes. After the competition, Mr. Rosenbach was interviewed in a video featured on YouTube. According to the clip, Mr. Rosenbach, a New York native and graduate of Queens College, owns the Rose Valley Ranch in Weatherford, Tex., a town about an hour east of Dallas that calls itself “the cutting horse capital of the world.” The amateur competition earlier this month earned Mr. Rosenbach — who made tens of millions of dollars at Galleon — about $5,138 in prize money. “You won a little more than $5,000,” the reporter said. “This win, for you, means what?” “You know I don’t want to sound terrible, it wasn’t about the money,” said Mr. Rosenbach, wearing a cowboy hat, “it’s about the buckle, it’s about the saddle, it’s about the exciting feeling, the adrenaline rush of when you finish and you put your hand down and you’re done cutting.” [Dealbook]

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. Read more »

Just in the nick of time. Read more »