Answer: Galleon Group
Galleon Group was one of the largest hedge fund management firms in the world before announcing its closure in October 2009. The firm was at the center of a 2009 insider trading scandal that resulted in investors pulling capital from the firm rapidly. Galleon is headquartered in New York City.
The firm was founded by Raj Rajaratnam, a former equity research analyst at Needham & Company, in 1997. Rajaratnam was arrested in October 2009 along with five others and charges with multiple counts of fraud and insider trading. He has pleaded not guilty and is currently free on a $100 million bond. He was indicted by a grand jury in December.
The firm is named for the galleon, a large sailing ship used from the 16th to 18th centuries in Europe.
