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Charles Gasparino Details Insider-Trading Investigations in New Book, ‘Circle of Friends’

The Daily Beast – Gasparino explicitly says he’s not defending insider trading. But he does argue that the U.S. government wastes resources by pursuing insider trading to the extent it currently does, and that its prosecutors often treat white-collar suspects like mob bosses.

When the FBI finally confronted Galleon Group hedge fund billionaire Raj Rajaratnam in 2009, they told him “to look at his children because it could be the last time he’d see them for a long time” and that he should also look at his wife because she’ll have a great time spending his money while he’s in jail.

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