Hedge fund manager conned by another hedge fund manager

Discussion in 'Wall St. News' started by beachhouse, Nov 21, 2011.

  1. http://dealbook.nytimes.com/2011/11/18/hedge-fund-manager-is-sentenced-to-5-years/

    "In perhaps the case’s most unusual twist, one of the victims was the Galleon Group, the hedge fund headed by Raj Rajaratnam, the convicted hedge fund manager who last month received an 11-year prison term, the longest sentence for insider trading in United States history.

    Galleon, which is still being unwound, said in court papers that it was one of the investors that purchased a block of Human Genome stock from FrontPoint just before the company’s negative announcement, costing it about $1.5 million."
  2. wait until they go after the hft miscreants

    from the story above

    “I slipped into a world of relativism where the ends were justifying any means,” he said.

    to be seen soon

    “I slipped into a world of micro theft where the ends were justifying any frontrunning,” he said.
  3. Welcome to the real America. These are suposed to be the wealth elite of the nation. It just the law of the jungle one shark eats another. The lies the bluffs the drama. I love these stories because both parties will probably get a couple of months in Fed Pen and then walk away. Just look Martha Stewart I am sure they will let Mr Madoff out of jail and he will be up to usual nonsense saying he is reformed. It is just a game to the people of extreme wealth.
    I went to a high end private school and the wealthy have a different set of rules to live by a different image to maintain. The government figures if the money has not left the country who cares who stole from who. Ask a judge if you have an opportunity.

    Welcome to Planet Misery,


    BUY GOLD !!!
  4. Skowron got off easy!
  5. Roark


    I agree. Five years isn't enough. Should be 25 with no possibility of parole.

  6. They better get used to slipping on the soap.