Mastermind of largest hedge fund insider trading rings in US, Raj Rajaratnam in Sri Lanka


Sri Lankan-born Galleon hedge fund founder Raj Rajaratnam, alleged of being the mastermind of the largest hedge-fund insider-trading rings in US history, is presently in Sri Lanka and will meet some Sri Lankan politicians in the coming days, the Daily Mirror learns.

The founder of Galleon Group Hedge Fund, Sri Lanka-born Raj Rajaratnam was arrested by the FBI and charged with criminal offenses of insider trading securities frauds in 2009.

Rajaratnam had also been accused of giving more than US$3.5 million to the Tamil Rehabilitation Organization (TRO) whose assets were frozen by the US Treasury Department in Nov. 2007 because of its alleged ties to the Tiger terrorists.

Rajaratnam was also linked to the controversial US$ three million which was deposited at the Standard Charted Bank Branch in Kirillopane without the authority of the Central Bank in 2006.

Former UNP MP Ravi Karunanayake's name was linked in the illegal transaction but in 2015, Karunanayake was acquitted by court on charges of money laundering in violation of the Exchange Control Act. (JAMILA HUSAIN)

 

 



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