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Galleon Group Investors Want Out Of Hedge Fund
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Galleon Group Investors Want Out Of Hedge Fund

Business

Galleon Group Investors Want Out Of Hedge Fund

Galleon Group Investors Want Out Of Hedge Fund
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Investors in the Galleon Group hedge fund have been withdrawing more than $1 billion in funds. The withdrawals follow the arrest of Galleon co-founder Raj Rajaratnam. Last week the Sri Lankan-born billionaire was charged with insider trading. He allegedly used tips from company insiders to make $20 million in illegal profits.

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RENEE MONTAGNE, host:

NPR's business news starts with hedge funds and insider trading.

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MONTAGNE: Investors in the Galleon Group hedge fund have been fleeing for the exits, withdrawing more than a billion dollars in funds. This comes in the wake of the arrest of Galleon co-founder Raj Rajaratnam. Last week, the government charged the Sri Lankan-born billionaire with insider trading. He allegedly used tips from company insiders to make $20 million in illegal profits. It's being called the largest insider trading case involving a hedge fund.

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