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 What could be more damning than allegedly perpetrating a massive insider trading scheme? Perhaps only supporting a terrorist group. The Sri Lankan government on Sunday claimed that disgraced hedge fund manager Raj Rajaratnam, founder of Galleon Group, has been funding the Liberation Tigers of Tamil Eelam, which is considered a terrorist group by the U.S. Rajaratnam, a native of Sri Lanka, has denied the allegations. But the news has had the expected effect on Galleon's investors, who were already scrambling to redeem assets -- $1.3 million of them, according to The Wall Street Journal. And as is often the case on Wall Street, one man's pain is another's gain: John Carney at Clusterstock is reporting that hedge fund managers are circling Galleon's billions in client assets. "Look, that money has to go somewhere. So we're working to make sure we get a huge portion of it," one senior hedge fund manager told him. According to Clusterstock, short sellers have also been hammering away at Galleon's positions, sure that the hedge fund will have to liquidate rapidly to meet redemption requests. - Sara Behunek See Also: SEC got it right with Galleon? Ponzi schemes, fraud and other misdeeds Dealwatch
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From: Senator Finch,
Rajaratnam pledged $1 million dollar on a Sri Lankan government project along with other donors of government of Japan and USA, Times Magazine reports. Why Rajaratnam donated money to the murderous Sri Lankan regime which massacred Tamil civilians in tens of thousands is stii unknown. Why do the tabloids connect him with his country of origin? Is he too visible? If the calls from other Wall Street hawks are tapped, many frauds will come out.
Posted on:
October 20, 2009 3:20 PM
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Actually an FBI investigation revealed his ties to the Tamil Tigers. His entire family flew to Sri Lanka to meet with Prabhakran - leader of the Tamil Tigers - in the jungles.
See here: http://bailaman.blogspot.com/2009/10/galleon-group-founder-raj-rajaratnams.html