Galleon Insider-Trading Probe Gets Closer To SAC Capital


Federal investigators in the Galleon Group case have requested trading records from a hedge-fund manager who once worked for Steven A. Cohen’s SAC Capital Advisors and who employed a cooperating witness in the insider-trading case announced last week, people familiar with the matter say.

The subpoena sent to the hedge-fund manager, Richard Grodin, doesn’t suggest wrongdoing. Nor does it suggest that Mr. Cohen — one of the nation’s most well-known and successful hedge-fund managers — has been implicated in any way, or that he knew about any trading by Mr. Grodin that the U.S. is seeking to examine as part of its continuing case.

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