November 5, 2009
"14 Charged With Insider Trading in Galleon Case"
The New York Times story begins as follows:
Federal prosecutors charged 14 money managers, lawyers and other investors on Thursday with trading on insider information, significantly expanding a wide-ranging, multiyear investigation that is sweeping through the secretive world of hedge funds.
In a series of criminal complaints, which are connected to charges filed last month against the hedge fund billionaire Raj Rajaratnam, prosecutors described a network that used prepaid cellphones and met in cars to avoid detection, and that was pierced in part through surveillance and secret recordings.
November 5, 2009 | Permalink