Fraud Case Against Head Of Galleon-Linked Fund Will Proceed

Law360, New York (June 21, 2012, 6:14 PM ET) -- A New York federal judge on Thursday refused to drop the case against Doug Whitman, a hedge fund manager tied to the Galleon Group LLC insider-trading ring, saying the indictment properly alleged the insiders who handed him tips acted for their own benefit.

Judge Jed S. Rakoff said the securities fraud charges against Whitman, the head of Silicon Valley-based Whitman Capital LLC, could go forward, turning down a motion by the defense team, who had argued that the indictment did not allege that the insiders who...
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