Halls of Justice

Signaling his intention to fight the fraud and conspiracy charges against him, Galleon Group founder Raj Rajaratnam has enlisted a top-flight Washington lawyer to defend him.

Mark Kurland, the other hedge fund founder accused of insider trading in the Raj Rajaratnam case, has denied any wrongdoing.

Jeffry Picower, the billionaire philanthropist and big Bernard Madoff investor, died after suffering a massive heart attack in his Palm Beach, Fla., pool, the medical examiner has ruled.

Susan and Jeffry PicowerJeffry Picower, said to be the largest individual beneficiary of Bernard Madoff’s Ponzi scheme, was found dead yesterday in his Palm Beach, Fla., pool.

Picower, who allegedly withdrew more than $7.2 billion from his accounts with Bernard L. Madoff Investment Securities over the past two decades, was found at the bottom of the pool by his wife, Barbara, who runs his charitable foundation. He was rushed to a nearby hospital and pronounced dead about an hour and a half later; an autopsy is being performed today to determine the cause of death.

While some clients of Lehman Brothers’ European prime brokerage may soon get some of their frozen assets back, that’s of little comfort to activist hedge fund Harbinger Capital Partners.

He doesn’t have much company among his peers, but hedge fund legend Julian Robertson is decidedly bearish on gold.

Accused insider-trader Raj Rajaratnam was back in federal court yesterday, signing the paperwork for his record $100 million bail.

Accused Ponzi schemer Arthur Nadel will once again attempt to win his release from jail today, eight months after his arrest on charges of running a $400 million hedge fund fraud.

Accused hedge fund fraudster James Nicholson may plead guilty to charges that he ripped investors off to the tune of $160 million, apologetic prosecutors said this week.

Hedge fund clients of Lehman Brother’s European prime brokerage are poised to get some of their money back after a British judge ruled in their favor.