Recent Event Highlights: Raj Rajaratnam Leaves N.Y. Restaurant Following Lunch: Video, Galleon's Raj Rajaratnam Leaves New York Restaurant: Video, Latest Sri Lankan News- US to file more charges against Rajaratnam-06.01.2010, Shiffty Presents: YEP! Street Meets Wall Street - ad:tech NYC 2009, October 22 : NZ$ over 76 USc, October 22 : NZ$ over 76 USc, and 10 more...
Created by dipity on Oct 16, 2009
Last updated: 09/03/10 at 01:17 PM
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Jan. 22 (Bloomberg) -- Bloomberg's Carol Massar reports on Galleon Group LLC founder Raj Rajaratnam's visit to a New York restaurant for lunch today. Rajaratnam was arrested in October as part of a first wave of charges accusing him of trading on leaks from corporate officials, hedge fund traders and other insiders. Seven other people, including ex-Galleon employee Zvi Goffer, were indicted yesterday by a federal grand jury following a second wave of insider trading arrests in November. Seven people have pleaded guilty so far in the two cases. Rajaratnam denies wrongdoing. (Source: Bloomberg)
Jan. 22 (Bloomberg) -- Galleon Group LLC founder Raj Rajaratnam, arrested in October as part of a first wave of charges accusing him of trading on leaks from corporate officials, hedge fund traders and other insiders, leaves a New York restaurant. Seven other people, including ex-Galleon employee Zvi Goffer, were indicted yesterday by a federal grand jury following a second wave of insider trading arrests in November. Seven people have pleaded guilty so far in the two cases. Rajaratnam denies wrongdoing. (Source: Bloomberg)
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Indicted Galleon hedge fund founder Raj Rajaratnam faces expanded charges of insider trading and allegations that he earned 36 million Dollars in illicit profits, double the amount previously alleged. The Government signalled its intention to add to charges against billionaire Rajaratnam in a memorandum asking a Manhattan federal court judge to revoke his bail. US prosecutors said while the indictment in December alleged that Rajaratnam was responsible for illicit profits of 17 million US Dollars, at this time the Government believes that the total illicit gains attributable to Rajaratnams illegal trading are at least approximately 36 million Dollars. The memorandum went on to say the Government plans to file a superseding indictment to expand the charges set forth against Rajaratnam in the current indictment. It said the information came from an unidentified source to whom Rajaratnam began making large payments in exchange for inside information in or about 2004. Prosecutors in the office of the Manhattan US Attorney said in the memorandum to US District Court Judge that these changed circumstances militate in favor of detaining Rajaratnam rather than easing his bail conditions. A hearing is scheduled for Friday on bail. Rajaratnams lawyers have asked for his bail to be reduced to 20 million from 100 million Dollars. He has pleaded not guilty to the indictment and argued that evidence gathered through wire taps violated his constitutional rights.
SEC to testify on the Hill today. Looking for systemic fraud... including ratings agencies and credit default swaps. Not just the big fraud like Bernie Madoff and Galleon. On Squawk Box, CNBC. Copyright MSNBC 2009 cdos TARP hedge fund funds mortgage backed securities gold silver dollar subprime prime rating agencies bubble testify Senate Judiciary Committee insider trading FBI Attorney General Bear Stearns AIG Goldman Sachs Lehman Brothers
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Well, a few things. 1) The analogy between how efficient financial markets work and affiliate markets will work shortly become apparent, 2) Some fun at ad:tech NYC, 3) A glimpse of VERY HIGH finance Wall Street firms including Goldman Sachs, Morgan Stanley, and the liquidity provider for much of the equity in this country: the NYSE/Euronext. But, imho, the beauty of this 9 minute video is the SPIRIT OF CO-OPETITION that has existed on Wall Street for DECADES (they call it syndication), but on YEP! Street for a little less than a year (or whenever I became a Partner of the company along with the Co-Founder Elias Sahyouni and one of the investors and Directors,Michael Pesner). Y3P! Talk about DISRUPTION in technology?! ##### And Michael Parekh, Jeff Pulver, Gary Vaynerchuk, Robert Scoble, Richie Hecker, Michael Moore, and of course, the KING OF ALL MEDIA, Mr. Howard Stern: Merci Beacoup.
Our panel discusses the role of ethics in business by examining Attorney General Brown's lawsuit against State Street Bank and Trust for alleged fraud against calpers and calstrs, and the Galleon Group hedge fund insider-trading scandal unfolding in Silicon Valley. Guests: Andrew Ross, Business Columnist, SF Chronicle, Stu Woo, Reporter, Wall Street Journal, Sally Baack, Professor, College of Business, SFSU.
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that China's GDP rose 8.9% in the September quarter from the same quarter a year ago, which was stronger than the 7.9% growth recorded in the June quarter. However, China plans to continue pumping in more monetary and fiscal stimuli, the FT.com reported. This is good news for Australia, which is our largest trading partner, and for demand for commodities. China is now using its US dollar cashpile to buy access to commodities and technology, including in New Zealand. Meanwhile, our Reserve Bank is expected to hold the OCR next Thursday, but will be under pressure to drop its promise to leave the OCR at 2.5% until late 2010 as the economy recovers strongly. Meanwhile overseas, the US Federal Reserve has announced sweeping pay cuts for bank bosses as US voters revolt over new bonuses, Bloomberg reported. Also, Sri Lankan born hedge fund manager Raja Rajaratnam is being sued by victims of Tamil Tigers who say he backed the Sri Lankan rebel group. Rajaratnam is also accused of insider trading and his Galleon hedge fund is now being liquidated, Bloomberg reported.
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Panel 1 NZ$ over 76 usc Not just weak US$ Up to 82 Australian Up to 68 on TWI Panel 2 Painful for exporters Payout over NZ$5/kg Great for importers Ask for price cuts Panel 3 Bollard says Nothing he can do No block to rate hikes Encouragement? Panel 4 Galleon liquidates US$3.7 billion Insider trading Destroyed in days
Panel 1 NZ$ over 76 usc Not just weak US$ Up to 82 Australian Up to 68 on TWI Panel 2 Painful for exporters Payout over NZ$5/kg Great for importers Ask for price cuts Panel 3 Bollard says Nothing he can do No block to rate hikes Encouragement? Panel 4 Galleon liquidates US$3.7 billion Insider trading Destroyed in days
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www.12monthinternetmillionaire.com Oct. 19 (Bloomberg) -- Henry Blodget, chief executive officer of The Business Insider, talks with Bloomberg's Betty Liu about the outlook for Apple Inc.'s fourth-quarter results to be released afte... Oct. 19 (Bloomberg) -- Henry Blodget, chief executive officer of The Business Insider, talks with Bloomberg's Betty Liu about the outlook for Apple Inc.'s fourth-quarter results to be released after the close of trading today. Blodget also discusses the outlook for Yahoo! Inc.'s earnings report tomorrow and the US government's insider-trading case against billionaire Galleon Group founder Raj Rajaratnam. (Source: Bloomberg
Billionaire Raj Rajaratnam who contributed to TRO, the LTTE front and to Hilary Clintons campaign has been arrested in the United States. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Sri Lankan born Rajaratnam is accused of operating an elaborate insider trading operation which made him one of the wealthiest men in the United States with an estimated net worth of 1.3 Billion US Dollars. He has been arrested along with five others. Rajaratnam is accused of giving more than 3.5 Million Dollars to the Tamil Rehabilitation Organisation (TRO). It is revealed that he had chanelled funds to the LTTE through his Galleon Group Hedge Fund launched during the 2004 Tsunami. Rajaratnam and his wife were also major contributors to a number of democratic campaigns. He had largely supported Hilary Clintons election campaign. In addition his associates formed a Tamil For Clinton Fund Raising Group for her Presidential campaign and sought her help in getting the Tamil tigers taken off the State Departments designated terror list. It was thereafter that Clinton said all terrorists cannot be treated alike.
Billionaire Raj Rajaratnam who contributed to TRO, the LTTE front and to Hilary Clintons campaign has been arrested in the United States. Sri Lankan born Rajaratnam is accused of operating an elaborate insider trading operation which made him one of the wealthiest men in the United States with an estimated net worth of 1.3 Billion US Dollars. He has been arrested along with five others. Rajaratnam is accused of giving more than 3.5 Million Dollars to the Tamil Rehabilitation Organisation (TRO). It is revealed that he had chanelled funds to the LTTE through his Galleon Group Hedge Fund launched during the 2004 Tsunami. Rajaratnam and his wife were also major contributors to a number of democratic campaigns. He had largely supported Hilary Clintons election campaign. In addition his associates formed a Tamil For Clinton Fund Raising Group for her Presidential campaign and sought her help in getting the Tamil tigers taken off the State Departments designated terror list. It was thereafter that Clinton said all terrorists cannot be treated alike.
Billionaire Raj Rajaratnam who contributed to TRO, the LTTE(tamil tiger terrorists) front and to Hilary Clintons campaign has been arrested in the United States. Sri Lankan born Rajaratnam is accused of operating an elaborate insider trading operation which made him one of the wealthiest men in the United States with an estimated net worth of 1.3 Billion US Dollars. He has been arrested along with five others. Rajaratnam is accused of giving more than 3.5 Million Dollars to the Tamil Rehabilitation Organisation (TRO). It is revealed that he had chanelled funds to the LTTE through his Galleon Group Hedge Fund launched during the 2004 Tsunami. Rajaratnam and his wife were also major contributors to a number of democratic campaigns. He had largely supported Hilary Clintons election campaign. In addition his associates formed a Tamil For Clinton Fund Raising Group for her Presidential campaign and sought her help in getting the Tamil tigers taken off the State Departments designated terror list. It was thereafter that Clinton said all terrorists cannot be treated alike.
Sri Lankan born, Galleon Group founder, Raj Rajaratnam and five others have been arrested in the US and charged in a $20 million insider-trading case. US Attorney Preet Bharara announced that Rajaratnam has been charged with four counts of conspiracy and 8 counts of securities fraud. DAILY MIRROR VIDEO COURTESY REUTERS
Bank of America Corp. plans to overhaul its credit-card business after the unit posted five straight quarterly losses totaling $4.7 billion. The federal budget deficit has surged to an all-time high of $1.4 trillion as the recession caused tax revenues to plunge while the government was spending massive amounts to stabilize the financial system and jump-start the economy. One of America's wealthiest men was among six hedge fund managers and corporate executives arrested today in a hedge fund insider trading case that prosecutors say generated more than $25 million in illegal profits and should be a wake-up call for Wall Street.... Stocks fell on today after disappointing results from General Electric and Bank of America demonstrated the road to economic recovery will be bumpy... Wal-Mart, the world's largest retailer has launched a price war against Amazon, the web's premier bookseller, as the crucial holiday sales period looms.... stay tuned... California's unemployment rate edged down to 12.2 percent in September from a revised 12.3 percent in August...
Raj Rajaratnam, Founder of $3 Billion Galleon Group Hedge Fund, Arrested. Prosecutors and the FBI have announced that they have filed charges against several people involved with the Galleon Group hedge fund, including founder Raj Rajaratnam. Galleon is a major hedge hund player known for its investment in technology stocks. Most notably, the government is filing criminal charges related to insider trading in a number of securities going back to 2006. So this is much more than a standard SEC civil charge.
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