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Galleon Group

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GALLEON GROUP 1. Pelanggaran etika apa yang dilakukan oleh Galleon Group terkait dengan Informasi?
Munculnya aksi fraud dimana salah satu investor sekaligus miliarder terkemuka AS, Raj Rajaratnam, telah terbukti tersangkut oleh aksi keterlibatan kecurangan investasi yang menggunakan hubungan dengan orang dalam "Insider Trading" pada beberapa hedge fund di AS. Pria yang bekerja sebagai direktur investasi di Galleon Group ini telah tercatat mengalami 14 kasus insider trading di 5 negara bagian AS. Aksi yang dilakukannya tersebut mulai tercium sejak Oktober 2009 dimana dirinya terlibat terhadap konspirasi dalam beberapa kontrak investasi terhadap perusahaan-perusahaan investor. Rajaratnam memanfaatkan informasi dari perusahaan-perusahaan yang sahamnya diperdagangkan,, juga para analis dari perusahaan yang mempunyai data keuangan perusahaan. Saham-saham perusahaan yang turut dimainkan adalah milik Hotel Hilton, Google. Orang- orang yang terlibat permainan antara lain staf Moody’s Investor Services, IBM. Dia memberikan hadiah pada mereka yang memberikan informasi rahasia. Salah satunya dengan membayar Anil Kumar, eksekutif di McKinsey, US$ 500 ribu per tahun untuk tips sebagai klien perusahaan.
Dari bukti rekaman telepon Rajaratnam, diperoleh 45 bukti rekaman telepon yang menjadi bukti atas kesalahan tersebut, membuktikan bahwa Rajaratnam telah menimbun kekayaannya dengan cara melakukan transaksi saham, baik itu pembelian maupun penjualan saham dari hasil bocoran informasi perusahaan yang bersifat material non-publik yang telah diketahui lebih dulu oleh Rajaratnam, terutama pada perusahaan teknologi dan saham lain. Dengan bekal informasi itu, Rajaratnam dapat menentukan posisinya di pasar dan meraup keuntungan atas posisinya sebagai seorang manager investasi hedge fund.

2. Bagaimana Galleon Group melakukan Pelanggaran?
Rajaratnam melakukan pelanggaran dengan cara mendapatkan bocoran dari orang dalam "Insider Trading" tentang informasi perusahaan-perusahaan teknologi dan saham lainnya. Rajaratnam memperoleh informasi yang bersifat material sebelum diumumkan kepada publik. Informasi tersebut berupa informasi mengenai laba kuartalan (quarterly earnings), pengambilalihan (takeovers), dan terkait materi kontrak (material contracts).
Untuk mendapatkan bocoran informasi tersebut, maka Rajaratnam melakukan Insider Trading, yang merupakan transaksi surat berharga atas informasi yang tidak dimiliki publik. Biasanya bocoran informasi didapatkan dari pihak yang terkait dengan sebuah rencana korporasi, karyawan, direksi, atau konsultan. Salah satu timbal balik yang dilakukan Rajaratnam dalam kasus Insider Trading yaitu dengan memberikan hadiah pada mereka yang memberikan informasi rahasia. Salah satunya dengan membayar Anil Kumar, eksekutif di McKinsey, US$ 500 ribu per tahun untuk tips sebagai klien perusahaan.

3. Apa dampak bagi perusahaan, pemegang saham, dan masyarakat atas pelanggaran tersebut? * Dampak Bagi Perusahaan
Dampak positif: Dari hasil bocoran informasi perusahaan, Rajaratnam dapat menentukan posisinya di pasar dengan mengetahui kapan melakukan transaksi pembelian atau kapan transaksi penjualan saham dilakukan. Dampak Negatif: Transaksi berdasarkan informasi seperti ini diharamkan di pasar modal karena akan menguntungkan segelintir pihak saja. Baik penerima maupun pemberi informasi dapat dikenai tuntutan.

* Dampak bagi pemegang saham
Pemegang saham lain yang seharusnya mendapatkan keuntungan untuk menanamkan sahamnya lebih besar diperusahaan, namun karena Galleon group yang lebih dahulu mendapatkan informasi mengenai perusahaan sehingga Galleon Group bisa menggunakan kesempatan itu untuk menanamkan modalnya lebih besar dari pemegang sahan (investor) yang lain. Pemegang saham lain juga mendapatkan keuntungan yang lebih kecil dibanding dengan perusahaan yang lebih dulu mengetahui informasi mengenai saham perusahaan. * Dampak bagi masyarakat (calon investor)
Banyak pihak semakin meragukan kondisi finansial akibat kembali munculnya kasus-kasus seperti ini ditengah adanya pengupayaan pemulihan ekonomi tak terkecuali pada sektor finansial AS sehingga calon investor akan ragu untuk menanamkan modalnya.

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