Ep 6. Galleon Group: The Insider: Raj Rajaratnam
- TVPG
- March 7, 2012
In American Greed season 6 episode 6, titled "Galleon Group: The Insider: Raj Rajaratnam," viewers will be taken through the rise and fall of Raj Rajaratnam, a former hedge fund manager and founder of the Galleon Group.
Rajaratnam was once considered to be one of the most successful and influential investors on Wall Street, with a net worth of over $1 billion. However, his success was built on a foundation of insider trading, which eventually led to his downfall.
The episode will explore Rajaratnam's early years, including his upbringing in Sri Lanka and his education in the United States. It will also delve into his career in finance, including his time at Needham & Company and the founding of Galleon Group in 1997.
As Galleon Group grew, so did Rajaratnam's reputation for making savvy investment decisions. However, as the episode will reveal, much of his success was based on obtaining insider information. Rajaratnam cultivated a network of insiders from various industries, such as technology and healthcare, who would provide him with confidential information about upcoming announcements or market-moving events.
The episode will highlight some of the instances in which Rajaratnam was caught using insider information, including his involvement in the huge insider trading scandal that rocked Wall Street in 2009. Through a combination of wiretaps and cooperation from former colleagues, Rajaratnam was eventually charged and convicted of multiple counts of securities fraud and conspiracy to commit securities fraud.
The episode will also explore the aftermath of Rajaratnam's conviction, including the impact on his family and the larger financial industry. Viewers will learn about the various legal battles fought by Rajaratnam and his lawyers, as well as the penalties he faced for his crimes.
Overall, "Galleon Group: The Insider: Raj Rajaratnam" offers a compelling look at the dark side of Wall Street and the individuals who will go to extreme lengths to gain an edge in the competitive world of finance.
