By Grant McCool NEW YORK (Reuters) - FBI raids on hedge funds were a sign that prosecutors feared evidence in a widening insider trading probe could be destroyed, but the dramatic daytime searches may also have been intended to shake up the secretive hedge fund world, legal experts said. Investigators most likely swooped down on the funds Monday in Connecticut and Massachusetts because they had a major concern that subpoenas for information would not be properly obeyed, lawyers and investigators said. The raids served another purpose: warning the broader financial industry that a serious prosecution effort was underway. "I think there is a desire to send a message to people who are not currently the target of criminal investigations that there is a cost to engaging in this type of potentially criminal behavior," said Ross Gaffney, a former FBI agent in Miami who is now a principal in the forensic consulting firm Gaffney Gallagher Philip. Gerald Lefcourt, past president of the National Association of Criminal...
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