The Galleon hedge fund at the centre of an insider trading scandal paid hundreds of millions of dollars a year to its Wall Street banks and in return regularly received market information that would not have been disclosed to most investors. One executive familiar with the matter said the group paid about $250m to its banks last year, while others who dealt with the fund said it paid more in fees and other charges during the boom years of this decade.

This entry was posted by Gwen Robinson on Thursday, October 29th, 2009 at 4:53 and is filed under Capital markets, Hedge funds. Tagged with Galleon. Edit this entry.