Newsmax, October 16, 2009
Galleon Group founder Raj Rajaratnam and five others were charged with engaging in the largest ever hedge fund insider-trading scheme, generating profits of more than $20 million over several years, U.S. prosecutors, the FBI and the SEC said Friday.
Insider trading by hedge funds Galleon and New Castle and Intel’s Intel Capital unit took place in shares of Hilton Hotels Corp, Google Inc, IBM, Advanced Micro Devices Inc and other stocks, according to two complaints filed in U.S. District Court in New York.
All six accused have been arrested, a spokeswoman for the federal prosecutor’s office in Manhattan said. The case could represent an important development in the government’s enforcement of securities laws, she said.
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SRI LANKA TITAN
One of the criminal complaints accuses Rajaratnam, considered the richest Sri Lankan in the world, of conspiring with Intel employee Rajiv Goel and Anil Kumar, a director of powerful management consulting firm McKinsey & Co. The alleged offenses took place for about three years starting in January 2006.
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Original article
(Posted on October 19, 2009)
Comments
Sri Lanka… a Muslim stronghold. The Muslims there have a bad habit of breaking into Christians homes and murdering the owners while they sleep. They can be seen parading down the street with the head of some poor soul on a stick. Filthy animals. We shouldn’t be doing any business with them.
“…$20 million over several years…” seems like chump change to me. And this is a “record” case? I swear someone has dropped a zero or two in the figure. Either that, or the Feds are making a big deal over a small-time operation.
On a related note, isn’t it funny how our Federal Goverment makes such a big deal over crime in the private sector, but ignores the biggest ripoff of all, namely the Federal Goverment itself?
Sri Lanka is predominately Sinhalese & Bhuddist. There is a large Hindu Tamil minority. Muslims, or Moors as they call them in Sri Lanka, are a tiny minority. But in anycase, is Rajaratnam & his ilk really doing jobs that Americans won’t do? Also business ethnics in South Asia are much worst then in America, I wonder if this would have been illegal in India or Sri Lanka?
I have noticed how the financial press is careful not to bring race into the story, even though this could well be a case of those with no emotional connection to the US being allowed to run amok, so to speak.
Post 1: A Muslim stronghold? Last I heard, it had a Buddhist majority.
@ Unemployed WASP, I’m not sure if your story has nay validity or not, but Sri Lanka is not a Muslim stronghold. The country is less than 8 percent Muslim. It is mostly a Buddhist country, with 70 percent practicing Buddhism.
Now I know the USA is well and truly finished.
sri lanka … muslim stronghold? do you really think that amren readers are complete idiots to fall for such a lie? on the off chance that they do not know the demographics of sri lanka, all it takes is ten seconds to find out on wikipedia. judging by the names I would say they are sri lankan tamils which is basically indians by origin. your cheap lies will not distract us from the well known fact about indian mentality.
the guy in question was a supporter of the tamil tigers, whom have the distinction of being the #1 suicide bombers in the world (the invented the bomb vest) which perhaps is the reason for unemployed wasp’s misconception that they are muslim - they are secular marxists but hindu in origin.
Do you notice how business connections, unethical or otherwise are formed along ethnic lines? The ONLY ones consciously NOT doing this and consciously trying to DISMANTLE those connections…
Wall street is now minority occupied territory, which means $$$ which means the avalanche of immigrants coming into this country and foreign policy built around appeasing sub-ethnic groups in this country is going to accelerate.
Post 1: A Muslim stronghold? Last I heard, it had a Buddhist majority.
I have worked with Sri Lankans and they are a mixed religious lot, but the big difference there and anywhere the muslims get to is that the “minority” muslims are willing, ready and able to kill all of the others. My Sri Lankan co-workers in Iraq told me they feel their government will continue to make appeasement gestures to the muslim terrorists until the muslims finally control all of Sri Lanka. Remember, there is no room in a muslim world for a non muslim except as a slave.
East Indians populate Sri Lanka and East Indians are among the most corrupt people on earth. The only people on the planet more corrupt than East Indians are the members of our federal government. This is why Washington welcomes East Indians with open arms…
