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.
Rajaratnam imbued Galleon with his playful and fun-loving personality. On Thursdays, employees could sign up for massages at the office. He would hold job interviews at the topless club Scores. And in the hothouse culture of the Galleon trading floor, he indulged his passion for pranks. Traders who made bets and lost would be required to spend a day wearing lingerie. He would offer $5,000 to anyone would would drink ten tequila shots or $1,000 if they could eat a whole loaf of bread without drinking water.
The Billionaire's Apprentice: The Rise of The Indian-American Elite and The Fall of The Galleon Hedge Fund [Amazon]
Related: Galleon Employee Asked To Model Spandex On Conference Room Table; One April Fool's Day, employees arrived at Galleon's morning meeting to find a dwarf whom Mr. Rajaratnam introduced as an analyst hired to cover "small-cap" stocks.; He once offered $5,000 to any employee who would agree to be shocked by a Taser stun-gun when executives of Taser International Inc. came to visit the firm, according to people who were there. A female trader took him up on the offer and employees gathered around as the stun gun was applied, her legs buckling under her.