Which Hedge Fund Manager Wants To Be The Good Guy And Take In Galleon's Out Of Work Hookers?

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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]

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