Rajaratnam escaped by the skin of his teeth, even though his funds suffered blistering losses and large outflows too. Amid it all, he had never violated the one shibboleth held sacred in the hedge fund world: he was proud that he had not imposed “gates” on investors, prohibiting them from withdrawing their money from Galleon. “It is our investors’ money and they have the right to do whatever they want with it even if it means withdrawing all the funds from Galleon and destroying our firm,”
