The biggest insider trading scandal to hit Wall Street in years may be about to get even bigger. Bloomberg reports that as many as 10 more people could be charged in connection with the case as early as next week.
In the meantime, the hedge founded by Raj Rajaratnam, the man at the center of the scandal, may not be around for much longer. Galleon Group investors have already sought to withdraw about half of the firm's assets and at least two big banks are now refusing to do business with the firm. And employees are now freaking out and have been busy in recent days "seeking legal advice and updating their resumes." That can't be any fun. Here's hoping some former employees of Bernard L. Madoff Securities step forward to offer nervous Galleon staffers some job hunting and and resume-writing tips. Because if anyone knows how to take a stain on one's resume and recast it in the best possible light, it's those guys.