Did FTP maybe commit a crime? Yes. Was the crime it committed a Ponzi Scheme under the strict definition of the term? No. Read more »
As reported yesterday, a source close to Sanjay Santhanam, Galleon’s head of risk management, told Dealbreaker that Santhanam recently expressed fears the firm “could be closed by Friday,” due to a massive amount of redemptions. A representative of the fund, however, takes issue with the potential expiration date offered by San-San, pointing out that, technically, the death would be much more slower and painful, and take us through the New Year.