Jon Stewart Examines Congress' Insider Trading Problem

Matt Toder · 02/15/12 11:44PM

On tonight's Daily Show, Jon Stewart examined the little problem that Congress has with indulging in insider trading. You know how it goes, you learn some confidential information in a Senate hearing or something and then use that knowledge for your personal financial gain. Hey, it happens all the time. The only problem is that when the regular non-Congress types try do that it is called insider trading and people go to jail. Oh well.

The Rajaratnams Get TMZ'd

cityfile · 01/22/10 03:54PM

Asha Rajaratnam, the wife of accused insider-trading mastermind Raj Rajaratnam, is prepared to defend her man. And she isn't afraid to get physical, as she demonstrated earlier today when the couple left Town on West 56th Street and found themselves swarmed by photographers. [via DB]

Rajaratnam Pal Takes a Plea

cityfile · 01/07/10 01:32PM

Anil Kumar, the former McKinsey & Co. director accused of feeding info to hedge fund founder and alleged crook Raj Rajaratnam, has pleaded guilty to securities fraud and conspiracy and agreed to cooperate with prosecutors. [NYT]

The Taint Spreads to SAC

cityfile · 11/05/09 02:48PM

The growing insider trading scandal involving hedge funds has made its way to the offices of SAC Capital, the firm founded by one of the industry's most powerful figures, Zamboni-loving billionaire Steve Cohen. One of the 14 new defendants charged today, Richard Choo Beng Lee, seems to have started his crime spree when he was employed by SAC. [BI, Reuters]

Hedge Fund for Sale, Price Negotiable

cityfile · 10/21/09 09:09AM

Galleon Group, the hedge fund founded by Raj Rajaratnam, the man at the center of the insider trading scandal that has rocked Wall Street in recent days, is shutting its doors. (Apparently, investors get a bit nervous when they see the CEO of the hedge fund they've invested in get hauled away in handcuffs and quickly ask for their money back.) Galleon is now reportedly looking to sell off the firm's assets, so if you're looking to pick up a hedge fund on the cheap, you probably should email to Raj as soon as possible. Oh, and yes, we tested out Raj's email address a few minutes ago and it still appears to be operational. So you're all set on that front. Do be sure to let us know how your negotiations go, though. [NYT]

Insider Trading Scandal Rolls On

cityfile · 10/20/09 08:29AM

The biggest insider trading scandal to hit Wall Street in years may be about to get even bigger. Bloomberg reports that as many as 10 more people could be charged in connection with the case as early as next week.