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