Galleon paid Wall Street banks millions for “edge”: report
Thursday, October 29, 2009 : PermalinkReuters – Hedge fund firm Galleon Group, whose founder has been charged with insider trading, paid $250 million to its Wall Street banks last year and in return received market information that other investors did not get, the Financial Times reported.
New York-based Galleon, which invested $7 billion at its peak last year, became known for pushing its contacts at banks for hints about market developments such as big buy and sell orders, the newspaper wrote.
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