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Tag: Rajiv Goel

  • Raj Rajaratnam: Who Is He?

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    Only the latest white collar crook to be arrested and charged with insider trading in the stock of companies including HIlton, Clearwire and Google. The founder of Galleon Group, a major hedge fund and worth $1.3 billion is (or if perhaps found guilty WAS) the world’s 559th most richest person (according to Forbes), The Federal Bureau of Investigation arrested 52-year-old Rajaratnam and five others on Friday in New York.

    The other money-mongering suspects include:

    +Danielle Chiesi, employee of New Castle Funds formerly the equity hedge fund group of Bear Stearns Asset Management

    +Mark Kurland, New Castle executive

    +Rajiv Goel of Intel Capital

    +Anil Kumar, director at McKinsey & Co., management consulting firm

    +Robert Moffat, executive at IBM

    What else do we know about the ringleader? Although a democrat and financial supporter of both Barack Obama’s campaign for presidency and several of Hilary Clinton’s; among the disturbing facts revealed is that Rajaratnam is said to have funded the Sri Lankan noxious terrorist group Tamil Tigers.
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    Illegal insider trading is a capital offense. It is a greedy violation believed to raise the cost of capital for securities issuers, thus decreasing overall economic growth. As if the world’s economy isn’t suffering enough. The financial penalties for such a crime could amount to as much as three times the amount gained or the loss avoided from illegal trading, not to mention the perpetual prison timeinsider trading. In this case the founder of the Galleon Hedge Fund is said to have garnered in excess of $20 million. His bail was set at $100 million to be secured by $20 million in collateral. Do the math. Crime NEVER pays.

    Read the full account here at the Huffington Post

     

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