On December 15, founder of Galleon Group, 51-year old billionaire Raj Rajaratnam was indicted by the New York court for creating the largest insider trading scheme in history. He is suspected in obtaining at least $20 million in improper profits. Rajaratnam is facing 145 years in prison. He is accused of applying fraudulent insider schemes [...]
Galleon Group LLC, the U.S. hedge- fund firm that’s liquidating after founder Raj Rajaratnam was charged with insider trading, sold shares in Commercial Bank of Ceylon Plc last week, according to Sri Lanka’s securities regulator. The hedge fund sold holdings in other Sri Lankan companies earlier, Udayasri Kariyawasam, chairman of the Securities & Exchange Commission [...]
Rajaratnam accuses investigators of violating his constitutional rights during Government’s probe into an insider trading ring Raj Rajaratnam, the hedge fund billionaire, accused Government investigators of violating his constitutional rights during its investigation of an insider trading ring that netted up to $53 billion. Mr Rajaratnam is one of 20 people facing civil and criminal [...]
Billionaire hedge fund titan Raj Rajaratnam’s shadow in Sri Lanka is so big that his arrest in the United States initially knocked 5 percent off the local stock market. But ask about Rajaratnam on the island of birth and few will say anything about the man considered to be Sri Lanka’s richest, now accused in [...]
Raj Rajaratnam, the biggest investor in Sri Lanka’s stock market, has no immediate plans to sell holdings in the south Asian nation after insider-trading charges in the U.S., a person familiar with the matter said. The Sri Lankan-born billionaire’s direct interests and stakes on the island held through his Galleon Group LLC won’t be affected [...]
Members of the extended family were inundated with messages of sympathy,solidarity and support from relatives, friends and well-wishers when New York based Hedge fund billionaire and philanthropist Raj (Rajakumar) Rajaratnam was arrested and produced in a Manhattan court on Friday October 16. The beleaguered billionaire whose net worth was estimated by “Forbes” to be US$ [...]
Raj Rajaratnam, the beleaguered founder of the $3.7 billion Galleon Group, today told investors that he would liquidate his hedge funds even as he was exploring various alternatives for the business. In a letter to investors, Rajaratnam said he was seeking ways to keep together long-short equity investment team. “I have decided that it is [...]
The news did not exactly come as a shock. Just two months before he was arrested on charges of insider trading on Oct. 16, billionaire Raj Rajaratnam described his job managing the New York-based Galleon Group hedge fund as “a business in which you eat only what you kill.” And though his hunting methods may [...]
Raj Rajaratnam, the New York-based billionaire and hedge fund manager charged in an alleged insider trading scheme on Friday, was funding the Liberation Tigers of Tamil Eelam, which is considered a terrorist group by the US, the Sri Lankan government claimed on Sunday. Brigadier Udaya Nanayakkara, spokesman for the Sri Lankan defence ministry, told the [...]
Sri Lankan-born billionaire businessman Raj Rajaratnam’s arrest in the United States on Friday on an alleged US$ 20 million insider trading charges has hit Sri Lanka like a thunderbolt with not only the Colombo Securities & Exchange Commission(SEC) here scrambling to check whether his million-dollar dealings bordered on any illegality, but also high-level politicians under [...]
WASHINGTON — The hedge-fund billionaire charged as part of a vast insider-trading case surfaced in an earlier, separate probe into U.S. fundraising by a Sri Lankan terrorist group, people familiar with the probe said. As part of that investigation, federal agents said they uncovered documents showing that Raj Rajaratnam, founder of the Galleon Group, was [...]
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