The goofy Galleon gang: Wacky hedgies play cops and robbers...with real cash!


As the full extent of the Galleon Group's insider trading comes to light, its story is starting to resemble something out of the movies. Although Raj Rajaratnam's house has already been compared to both The Sopranos and Goodfellas, the sad truth is that the real-life criminal ring lacks both the class of Tony Soprano's gang and the gravitas of Joe Pesci's. As details emerge, the whole mess seems to fall closer to the cartoonish excess of Animal House.

The central member of the gang -- the Otter, if you will -- may well be Zvi "The Octopussy" Goffer. Robert Khuzami, director of the Securites and Exchange Commission's Division of Enforcement, noted Thursday that Goffer got his James Bond–originated nickname "because of his reputation for having arms in so many sources of inside information." Goffer used his web of spies to cut trades both at Galleon and at his previous employer, the Schottenfeld Group.