Cityfile: New York's Most Notable and Influential

Raj Rajaratnam Could Use a Vacation | Hedge fund mogul Raj Rajaratnam managed to post $100 million in bail, but his lawyer asked a judge today to reduce it to $25 million  as well as given Rajaratnam permission to "travel freely in the contiguous 48 states." How else is he going to enjoy his country house in Connecticut and condo in Florida while he's still a free man? [NYT, WSJ]

Galleon Group, the hedge fund founded by Raj Rajaratnam, the man at the center of the insider trading scandal that has rocked Wall Street in recent days, is shutting its doors. (Apparently, investors get a bit nervous when they see the CEO of the hedge fund they've invested in get hauled away in handcuffs and quickly ask for their money back.) Galleon is now reportedly looking to sell off the firm's assets, so if you're looking to pick up a hedge fund on the cheap, you probably should email to Raj as soon as possible. Oh, and yes, we tested out Raj's email address a few minutes ago and it still appears to be operational. So you're all set on that front. Do be sure to let us know how your negotiations go, though. [NYT]

Insider Trading Scandal Rolls On | The biggest insider trading scandal to hit Wall Street in years may be about to get even bigger. Bloomberg reports that as many as 10 more people could be charged in connection with the case as early as next week. More

• A roundup of restaurants that just opened, or will open soon. [Eater, NYM]
• Sirio Maccioni's Le Cirque celebrated its 35th birthday last night. [NYT]
• Citrine in Chelsea was shut down by the city over the weekend. [Eater]
• Ex-Gourmet editor Ruth Reichl answered a few questions about the mag's demise (and avoided a few others) in yesterday's Times Magazine. But she was a no-show at a party held in Gourmet's honor last night. [NYT, NYDN]
• Have you heard that mac 'n' cheese has staged a comeback? It has! [WSJ]
• Raj Rajaratnam, the hedge fund manager at the center of the biggest insider trading scandal in decades, was an investor in restaurants in his spare time, and supposedly put money into Opia and Rosa Mexicano. [BN]

Rajaratnam: 'I'm Innocent' | Billionaire hedge funder Raj Rajaratnam was arrested on Friday morning on charges he participated in one of the biggest insider trading schemes in recent memory, one that netted him at least $25 million (but possibly millions more since the investigation continues.) Fortunately for Rajaratnam, the high-profile bust didn't end up depriving him of a weekend of freedom. By the end of the day, he'd been released on $100 million bail—the highest in history—and had to give up his passport and agree not to travel more than 110 miles from New York City. And today? He was back in the office for what must have been the awkwardest Monday morning meeting ever, telling employees that he's innocent and plans to fight the charges against him.

Another Hedgie Goes Down | Raj Rajaratnam, the founder of the $7 billion hedge fund Galleon Group, the 551st richest man in the world according to Forbes, and America's one and only Sri Lankan billionaire, has been arrested and charged for taking part in a $20 million insider-trading scheme. [NYT, WSJ]

Happy Birthday | Tory Burch turns 43 today. Former governor Mario Cuomo is turning 77. Helen Hunt is 46. Neil Patrick Harris is turning 36. Courteney Cox is 45. Fashion designer Douglas Hannant is turning 47. PR agency chief Richard Edelman turns 55. Socialite Bettina Zilkha is turning 50. Gallerist Marian Goodman is 81. Former Yankee Andy Pettitte is turning 37. Hedge fund manager Raj Rajaratnam turns 52. Ice Cube is is 40. Leah Remini is turning 39. Porn star Mary Carey is 29. And Project Runway Season 2 winner Chloe Dao turns 37 today.