Posting to Blogger was down for over 24 hours, so this is a bit delayed. Two days ago, Galleon Group founder Raj Rajaratnam was convicted of 14 counts of securities fraud and conspiracy. One of the things that stands out to me about this case is the breadth of Rajaratnam’s insider trading network. The WSJ
has an interactive graphic that maps out Rajaratnam’s network, and seeing the number of people involved in the network blows me away.
Remember, this isn't a diagram of Rajaratnam's golfing buddies--these are people who have at least been accused of passing on insider information. More than anything, seeing such a network makes it hard for me to believe that this is an isolated incident. Indeed, current trends suggest that we are just starting to see how pervasive insider trading really is.
According to the WSJ:
