Galleon Clients Abandon Ship (WSJ)
Redemption requests are up to $1.3 billion (out of $3.7 billion) so far and Bank of America Merrill Lynch and Barclays have told Galleon they will no longer trade securities positions with the fund.
Prosecutor In Galleon Case Makes A Splash (WSJ)
"What former Manhattan U.S. Attorney Rudy Giuliani did to the mob is what Preet Bharara will do to Wall Street."
Wall Street On Edge As SEC Top Cop Gets Aggressive (Reuters)
Also on your list to fear: "Robert Khuzami, who convicted the "Blind Sheik" and his ring of bomb plotters in that trial, is targeting a different kind of villain -- corporate executives, traders and fund managers who dare to break securities laws. About six months into his job as the U.S. Securities and Exchange Commission's enforcement director, Khuzami, who was handpicked by SEC Chairman Mary Schapiro, has shaken the agency to its core with reforms designed to ensure it does not miss the next Bernard Madoff."
Galleon Traders Seek Legal Advice, Update Resumes (Bloomberg)
Downplay having worked for Raj-Raj, etc.
NYC Judge Tosses $10 Million Suit Against Biden's Son, Brother (AP)
Stephane Farouze didn't lay out his allegations against Hunter Biden and James Biden ''with any meaningful degree of particularity,'' Manhattan state Supreme Court Justice Bernard J. Fried wrote in an order filed Friday.
10 More People To Be Charge With Insider Trading This Week (Bloomberg)
Some related to the Galleon case, some not. Let's take bets on who they are!
Rajaratnam's Letter to Employees (WSJ)
"I am innocent and will vigorously defend myself and our firm. As I move forward on my defense, I want to assure you that our commitment to our investors and employees will remain unwavering. I will continue to be here working for Galleon, and the firm will continue to serve its clients with effectiveness and integrity."