SHOCKER: Galleon Employees Getting Generous Bonuses and Severance

Maybe it’s not so bad to work for a hedge fund shut down due to criminal insider trader allegations.

Teri Buhl reports for DealBreaker:

While it’s not yet clear how investors will fare, we’re told that Raj-Raj is taking care of his employees. The Galleon team will be paid bonuses based on the fund performance at the date of shutdown, plus two months severance, plus benefits. A Galleon spokesman confirmed the plan but declined to comment further.

A top New York-based hedge fund manager told us, “For a fund that’s shutting down, that’s very generous.”

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at