Investors Flee Galleon Management

October 20th, 2009
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Since Raj Rajaratnam’s arrest on Friday, redemption requests at Galleon Management have exceeded $1 billion, amounting to over 1/3 of Galleon’s total assets under management, according to the Wall Street Journal. With Galleon’s future uncertain and the fear of assets being frozen, investors are moving quickly to withdrawal their capital and the firm has been forced to liquidate much of its holdings in order to raise cash to meet the requests.

This latest scandal will likely prompt Washington to call for tighter hedge fund regulation.
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Galleon Management*
Related People: Gary Rosenbach; Raj Rajaratnam
Related Entities: Galleon Admiral's; Galleon Buccaneers; Galleon Captains; Galleon Communication; Galleon Diversified; Galleon Explorers; Galleon Group; Galleon Healthcare; Galleon Technology
Related Article Tags: Hedge Fund Fraud and Ponzi Scheme News

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