The Galleon Fund

Andrew Michaelson, one of the principal SEC lawyers investigating the case, testified that in September 2006 the agency launched an insider-trading probe of Sedna Capital Management LLC, a fund operated by Rengan Rajaratnam, a former Galleon employee.

Michaelson, now a member of the prosecution team, said the SEC deposed Sedna and Galleon employees, reviewed millions of pages of documents and reviewed every single e-mail and instant message of Raj Rajaratnam’s for 2006. Soon regulators had another target, he said

Read Full Article