The Difference Between The Raj Case And Madoff's

Joe Nocera

Not long ago, I came into possession of the names of the investors in the now-defunct Galleon Group, the hedge fund firm that was run by Raj Rajaratnam, who last month was convicted of insider trading.

It’s a long and impressive list. Cornell, Colgate and Texas A&M each entrusted part of their endowments to Galleon. State pension funds in New Hampshire and Virginia invested with Rajaratnam. There were a handful of foundations, like the Michael and Susan Dell Foundation, and lots of family trusts. Private wealth managers, like Banque PrivĂ©e Edmond de Rothschild, steered clients to Galleon. A.I.G., the insurance giant, and Yuengling, the beer company, were investors.

Read the rest of this story at The New York Times.

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