Word: cases
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...didn't already feel like a financial ingenue in the wake of last year's Wall Street meltdown and Bernie Madoff's massive Ponzi scheme, maybe the government's latest insider-trading case will help put you over the top. Federal prosecutors have charged six people with conspiracy and securities fraud in a series of insider trades that allegedly netted more than $25 million in illegal profits. The defendants include higher-ups at two hedge funds as well as executives at Intel, IBM and the consulting firm McKinsey. Rajaratnam was arrested with the others on Oct. 16, but he promptly...
...case is being billed as the largest hedge fund insider-trading case in history - its importance underscored by the fact that the feds got a wiretap to collect evidence, a technique normally reserved for drug busts and organized crime. "This is a monumental step for the government," says Stetson University law professor Ellen Podgor. "This is not the typical way you do a white-collar case." (See the top 10 crooked CEOs...
...case is sending ripples throughout the world of hedge funds, a stratum of high finance that has thus far been largely untouched by the post-meltdown regulatory scrutiny and populist outrage directed at mainstream banks. "This case should be a wake-up call for Wall Street," U.S. Attorney Preet Bharara said in announcing the charges. Indeed. While many hedge funds wouldn't know what to do with inside information if they tripped over it - the strategy at quantitatively oriented shops often fixates on building better computer models - plenty of others ply their trade by working the phones and calling...
...Despite well-founded fears of the rising cost of an open-ended war, Obama does not want to be the President who presided over a defeat in Afghanistan. In which case, his options are a lot narrower than the weeks of debate over the issue suggest, regardless of how the election debacle plays...
...Lankan stock market and manipulate it to suit Tiger strategies to undermine the Sri Lankan economy. Though he has not faced any formal charges in Sri Lanka, Rajaratnam and the Galleon Group, the hedge fund he founded, have been linked by Sri Lankan financial authorities to a pending court case in which a sitting parliamentarian is among the accused facing charges of violating exchange control rules. (Watch a video about the final days of Sri Lanka's civil...