Galleon's Raj Wants Bail Chopped To $25 Million

, the Galleon Group hedge fund founder accused of directing an elaborate insider- trading ring, told a judge he’s being treated worse than Bernard Madoff and asked that his bail be slashed by three-quarters to $25 million.

Rajaratnam, 52, requested a lower bond in a letter filed today with U.S. Magistrate Judge Frank Maas in New York. His attorney, John Dowd, wrote that the government’s case is weak and that Rajaratnam intends to clear his name and won’t flee. Dowd said his client needs permission to travel within the U.S. to meet with lawyers and sell his company.

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