Galleon rat report | FT Alphaville

Galleon rat report

Okay, okay, that’s just a lame little joke.

Call ’em what you will — stoolies, narks, informer, a grass, co-operative witnesses. Either way, FT Alphaville does not condone illegal activity in any form.

So, whatever your preferred description, another of the FBI’s little helpers in the case against Raj Rajaratnam and his Galleon hedge fund has been named. Allegedly.

The person at investor relations firm Market Street who, according to the FBI complaint tipped off their co-operative witness about goings-on at Google, is one Shammara Hussain, according to the Wall Street Journal. She’s just 23 now — and was reportedly fired by Market Street two years ago.

Ms Hussain is alleged to have tipped off Roomy Khan, an Intel employee who, according to prosecutors, allegedly passed on “proprietary, non-public and highly confidential information” from the chipmaker “at the request of a representative” of Galleon.

John Carney, at Clusterstock, is  on the case:

Hussain was fired in September 2007 after her employers discovered her blogging about two companies that were either clients or competitors of Market Street. Her blog, which has now been put behind an invite only firewall, is called Ema’s Market Blog. Her posts were frequently linked by PaidContent, and she contributed to Reuters’ SocialPicks investing site as well as Seeking Alpha. There are posts on both sites that discuss Google. She also contributed to FastCompany’s blog community.

There seems to be very little disclosure about the possible conflicts of interest between the subjects of her blog posts and clients or competitors of clients. She’s attempted to erase herself online–hiding her blog, deleting her FaceBook profile and deleting her profile on Seeking Alpha. But Google cached this profile from Seeking Alpha:

Shammara E. Hussain is an individual investor who writes an insightful investment blog, focusing on uncovering potential catalysts before they are realized by the market. Additionally, Shammara serves on the Board of Advisors for OptiOpt, Inc., a financial services company focusing on investment optimization across all forms. A beta version of the site is due out in late 2007.

Hussain also seems to have had an account at, where she expressed her opinion on a variety of subjects. “saving money is boring..figuring out how to make a sweet return is excitin,” she wrote in one comment there. And she doesn’t like Kara Swisher of AllThingsD, it seems. She once left a comment on a post of Swisher’s complaining, “you make women in technology look like fools.”

The Journal said her lawyer claimed that whatever happened between Intel or Galleon people and Ms Khan was a “naive mistake.”

Related links:
Galleon ‘had Intel insider since 1998’
– FT
Galleon Sinks; Informant Surfaces
  – WSJ
John Carney Is An Insane Idiot On Insider Trading
– Clusterstock debate on insider dealing