Tuesday, 23 September 2014
Last updated 4 hours ago
Oct 29 2010 | 1:44am ET
Roomy Khan, the prosecution's star witness in the Galleon Group insider-trading case, has settled insider-trading charges leveled against her by the Securities and Exchange Commission.
Khan, a former Galleon employee cooperating with the investigation of Galleon founder Raj Rajaratnam, agreed to pay $1.9 million to settle the case. Khan had previously pleaded guilty to criminal insider-trading charges stemming from the Galleon case, the second time she has admitted to trading on confidential information.
Khan, a former Intel Corp. analyst, says she passed a series of tips on to Rajaratnam, in part to try to win a job at the New York hedge fund, where she worked briefly in the late 1990s. She also allegedly paid a Moody's Investor Service analyst, Deep Shah, $10,000 for inside information.
According to prosecutors, Khan earned $1.5 million trading on the confidential information herself.
Rajaratnam has denied any wrongdoing. His trial is currently set to begin in January.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.