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Why Insider Trading Is Hard to Define, Prove and Prevent
On October 16, federal prosecutors charged Raj Rajaratnam and his hedge fund, Galleon Group, with insider trading. On November 5, 14 additional people were charged with the same crime, and prosecutors predict even more arrests in coming weeks. The Galleon case raises questions about what exactly constitutes insider trading at a time when so many market participants, such as hedge funds and other opaque investment pools, live or die on their ability to gather information competitors don't have. Wharton faculty offer their opinions.
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Lippo Group CEO James Riady: 'Money and Power Are a Blessing and a Curse'
James Riady is the CEO of Lippo Group, one of Indonesia's largest conglomerates with annual revenues of some $3 billion. The Group, among the most active property developers in Southeast Asia, has expanded into China and Hong Kong and plans to invest $10 billion over the next five years in the Asia Pacific region. It also has interests in media, telecommunications, retail and health care. Fifteen years ago, Riady was responsible for the establishment of Universitas Pelita Harapan in Indonesia, and he has a strong interest in the social impact of business. During an interview with Knowledge@Wharton, Riady explained the lessons he has learned over the years from successes and failures in business and politics.
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