Friday, October 16, 2009

Raj Rajaratnam, Founder of $3 Billion Galleon Group Hedge Fund, Arrested

It seems that Raj Rajaratnam, a large investor in the SL market has been arrested for insider dealing by the FBI. See this

This may be bad news for the local market if he has to liquidate his positions here.

4 comments:

Anonymous said...

and another Thomian bites the dust!

that guy said...

The way he was manipulating JKH stocks this is no surprise. Irony is only last month he was featured on LMD as a HERO. Also was funding LTTE and this is no secret. Ravi Karunanayake's Union Bank share scandal was linked to this guy. Obviously he is a crook. This is what happens to ill earned wealth. My only worry is minority shareholders in lankan companies where this idiot has majority holdings will stand to lose now. Those shares will crash. God save small time investors in Colombo CSE

stymark said...

Raj Rajaratnam made a sensational statement in which he accused his business partners: watch here

Whacko said...

I think the galleon group is somewhat autonomous of RR. if thats the case, his investments here hopefully wont suffer much