Wed, Mar 21, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Galleon Group insider trading probe grows, investigators eye Goldman managing director

Friday, April 27, 2012

Bailey McCann, Opalesque New York: US prosecutors and regulators are deepening their investigation into whether employees at Goldman Sachs Group Inc. were involved with the high profile Galleon Group insider trading ring. Matthew Korenberg, is a San Francisco-based managing director for Goldman, and his lawyer confirmed today that he is the subject of a long running investigation into insider trading at the Galleon Group.

According to a report in The Financial Times investigators are looking into whether Korenberg shared information about takeovers with Paul Yook, a former Galleon portfolio manager. The information came to light during a pre-trial hearing for Rajat Gupta, a former Goldman Sachs board member accused of passing inside information about the bank and Procter & Gamble to Mr Rajaratnam - the founder of Galleon Group.

Mr. Korenberg's attorney said that there is no connection between his client and the Galleon case. He also noted that the investigation had been going on for two years and was unlikely to turn up any wrongdoing. Korenberg has yet to have any formal charges brought against him.

Goldman said in a statement, "We have been aware of these alle......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. John Paulson, once the industry's largest hedge fund, to return some investors' money[more]

    Komfie Manalo, Opalesque Asia: John Paulson is reported to be retuning some of his investors' money as a number of his hedge funds continue to suffer setbacks, reports

  2. DoubleLine's Gundlach sees U.S. 10-year Treasury yield rising, weighing on stocks[more]

    From Reuters/ Jeffrey Gundlach, the chief executive of DoubleLine Capital and known on Wall Street as the "Bond King," said on Tuesday the yield on the U.S. 10-year Treasury note will likely move higher and pressure riskier assets including equities and junk bonds. Gundlach, on an

  3. SEC charges Theranos CEO Holmes with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has charged Elizabeth Holmes, founder and CEO of Theranos and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about t

  4. Institutional Investors - Overdrawn pension fund scores gains[more]

    From Investments in big banks, pawn shops and rolling papers helped boost public safety workers' underfunded pensions this past calendar years, according to newly released figures. After recording middling returns in recent years, the Police & Fire Pension Fund (P&F) notched

  5. Hot hedge fund loses 21% after bet on volatility goes wrong[more]

    From In December, Shahraab Ahmad shared with his hedge fund clients the principle that helped him trounce peers for two turbulent decades: steer clear of the crowd. He'd turned $50 million into an operation with more than $700 million over three years and delivered market-beating retu