Halls of Justice

Galleon Group founder and accused insider-trader Raj Rajaratnam has asked a judge to cut his record $100 million bail to something a little bit more manageable.

A California hedge fund executive has struck a plea deal with prosecutors in a fraud case that involves a bizarre shakedown attempt.

Police in the U.S. and Germany have made three arrests in connection with the fraud investigation into German fund of hedge funds K1 Group.

The firm’s founder, Helmut Kiener, was arrested yesterday on suspicion of fraud and breach of trust. A German court today ordered him held in custody.

Meanwhile, U.S. police arrested two suspects in Miami and Nebraska, both reportedly connected to the K1 probe.

Much ink has been spilled in recent weeks identifying the tipsters who greased the alleged Galleon Group insider-trading ring.

Insider trading requires two things, and to get the first, you need insiders. And the alleged insider-trading circle that included Galleon Group founder Raj Rajaratnam apparently had plenty of those.

Frank DiPascali, the CFO of Bernard Madoff’s $65 billion Ponzi scheme, has been cooperating with the authorities in a bid for leniency.

Beverly Hills, Calif., hedge fund manager Michael McCready has pleaded guilty to running a $9 million Ponzi scheme.

A German fund of hedge funds group may find itself in trouble on both sides of the Atlantic for allegedly misleading banks to win greater leverage for its fund, leading to about US$400 million in losses.

The trial of Minnesota businessman, hedge fund manager and accused Ponzi schemer Thomas Petters finally gets under way today, almost exactly one year after his arrest on fraud, money laundering and obstruction of justice charges.

Less than a week after deciding to close its hedge funds, the Galleon Group has already liquidated more than 90% of its assets.