10/30/2009 - A JPMorgan Chase (NYSE:JPM) note from 2001 showed that the firm had concerns about the practices at hedge fund Galleon and its founder, Raj Rajaratnam, according to Financial Times report. Rajaratnam and 5 associates were recently charged with what prosecutors are calling the biggest ever insider trading scheme involving hedge funds. The "call note" from 2001 was written by an analyst at JPMorgan's alternative asset management arm, and asserted that Galleon's principals �€�liked to operate in the �€�grey areas�€(TM)�€� of the markets, and said, �€�If these allegations are true, there are some serious issues about business conduct.�€� The note suggested that the unit "should reduce our allocation" in Galleon's flagship technology fund because of the �€�more negative news about Raj and his cohorts."

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