Galleon probe continues in US

FEDERAL prosecutors are continuing “covert investigations” of two people in the Galleon hedge fund insider trade case, according to a court document made public yesterday.

The disclosure raises the prospect of additional arrests in a case described by prosecutors as the biggest probe of illegal insider trading involving hedge funds in the United States. Twenty-one traders, lawyers and executives including Galleon hedge fund founder Raj Rajaratnam, were arrested and charged last October and November with conspiracy.