Galleon Verdict : Raj Rajaratnam Insider Trading Guilty Sentence
A jury recently handed down a sentence which found that the Galleon Group’s founder Raj Rajaratnam was convicted of insider trading. Bloomberg is reporting that jury never argued during 12 days of secret deliberations that he was innocent. Instead the focus was on what sentence to give Rajaratnam. Here is a post about the Galleon verdict entitled, Galleon’s Fait Accompli : Investor’s Move the Dial Towards a Conservative Approach to Hedge Fund Research, on the Corgentum Consulting blog and some videos from the trail and verdict:
http://youtu.be/YKbqdE_BA5w
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Corgentum’s Scharfman Discusses Administrator Conflicts of Interest and Due Diligence with Forbes
A recent article in Forbes, discusses some of the risks to investors surrounding hedge fund administrator conflicts of interest.
The article is entitled, “Protection Racket – Investors rely on independent administrators like Citco to okay hedge fund books. But who’s watching these bookkeepers?” .
The article features Corgentum Consulting Managing Partner, Jason Scharfman discussing the role of hedge fund administrators in the investor operational due diligence process. Mr. Scharfman says, “ Part of the reason big-name administrators are winning more hedge fund assets is that they offer a false appearance of comfort and illusions of due diligence. Investors are still very much on their own in the hedge fund arena, ” says Mr. Scharfman.
The full article can be read on Forbes.com , in print editions of Forbes magazine for the week of April 25, 2011 or via direct link.
Raj Rajaratnam’s Galleon Trial – Insider Trading, Revelations, Material Non-Public Information and Mosaic Theory
The trial of Raj Rajaratnam has wrapped up and the jury is expected to begin deliberations shortly. Rajaratnam is the co-founder of the Galleon Group hedge fund. He is accused of insider trading. Rajaratnam’s lawyers argue the information was not so-called insider information but rather publicly available.
Many interesting development occurred during the trial. Here are some videos outlining the developments:
Video – Closing the Galleon Case
Another video from CNBC debating the term insider trading versus material non-public information and smoking guns:
Video – CNBC Galleon and Insider Trading
And a summary of day two of the trial:
Video – Summary of day two of the Galleon Trial
A video about former Galleon portfolio manager Adam Smith’s testimony:
Video – Adam Smith’s Galleon Testimony
And a video about the testimony of Lloyd Blankfein, the Chief Executive Officer of Goldman Sachs Group, about Rajat Gupta (former CEO of
McKinsey & Company and a former Goldman Sachs Board Member):
Video – Lloyd Blakfein testimony
Finally the closing arguments:
Video – Galleon Closing Arguments
