Welcome back to the podcast. I'm Alexandra Rogi and today I'm in very chilly London with business reporter Anita Raghavan.

Anita is a New York Times contributor and has previously worked for Forbes and for 17 years at the Wall Street Journal. But today we're going to talk about insider trading and her excellent book,

The Billionaire's Apprentice, The Rise of the Indian American Elite and the Fall of the Gallian Hedge Fund.

It's a great book about disgraced billionaire Raj Raj Raj Raj Radnum.

So Anita, thank you for joining me.

Thank you for having me. For context, before we

start on this story, can you help us understand the nature of insider trading? That's a great way

to start. As you know, Alexandra, the courts have been tweaking and retweaking the legal definition

of insider trading in recent years. But broadly speaking, and from a layman's perspective,

insider trading occurs when you have a corporate executive, the tipper, if you will,

passing non-public material information,

breaching his fiduciary duties to the company he works for

and passing that information to a trader, the tipee,

and the trader acts on that information and knowing full well that it was improperly obtained

and makes a bundle of money. And a blatant example of insider trading would be if a trader

handed a corporate executive, a briefcase full of cash, and in exchange,

the corporate executive gave him a tip on the company's earnings or a merger announcement

or even a new product. But unfortunately, for prosecutors, insider trading cases don't come

so neatly wrapped up.

No, your book makes it very clear that it can be difficult cases to make.

Can you tell us the story of Galleon and Raj Raj Raj Raj Ratnam at a very broad level?

At its heart, Galleon is a story about a successful immigrant, Raj, Roger Ruttnam,

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