Sunday, 26 June 2016
Last updated 2 days ago
Dec 7 2011 | 10:11am ET
A former Galleon Group trader has signed a deal to write a memoir that will focus heavily on his relatively brief stint at the hedge fund brought down by insider-trading.
Turney Duff will receive more than $250,000 to write The Buy Side, which will cover the 41-year-old's entire career with a significant chunk dealing with his two years at Galleon, from 1999 until 2001. Crown Business, the publisher, describes the book as "a journey through the trading underworld as well as a look at after-hours Wall Street, where sex and drugs are the quid pro quo in a culture in which a billion isn't enough."
The book deal for Duff comes as his old boss, Galleon founder Raj Rajaratnam, begins his 11-year prison sentence for insider trading. Rajaratnam was convicted in May and reported to prison on Monday.
Duff was not implicated in any of Rajaratnam's illegal dealings.
The Buy Side is due in 2013.
Duff was a health care trader at Galleon, which he joined from Morgan Stanley. He left the hedge fund to co-found Argus Partners and joined hedge fund J.L. Berkowitz & Co. in 2007. He left that firm in 2009, in part to pursue his new career as a writer.