Galleon paid Wall Street banks millions for “edge”: report

Reuters – 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.

Read Complete Article

This entry was posted in Syndicated and tagged . Bookmark the permalink.

Leave a Reply