Thursday, October 22, 2009

UNP MP gets funds from Rajaratnam?

Colombo District UNP parliamentarian Ravi Karunanayake’s name is being mentioned about receiving funds from US based millionaire Raj Rajaratnam. He was arrested by the US Central Bureau of Investigations on allegations of defrauding the stock market, obtaining confidential information on corporate bodies illegally and also funding the LTTE front organization TRO to siphon off funds for the terrorist group before it was defeated in May.

Karunanayake and two others were indicted in the High Court of Colombo in connection with the transfer of US $ 3 million from USA to a bank account in Colombo violating the Exchange Control Act.

The trial had been fixed for hearing on February 2, 2010, by High Court Judge Deepali Wijesundara. International news networks including CNN said the hedging business conglomerate that Rajaratnam operated in the US had made access to confidential information of certain private sector companies and had made profits after studying the weaknesses of some of them. Rajaratnam was alleged to have provided US$ 3.5 million to the LTTE front.

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