Category: Legal

NEW YORK, October 27, 2011 (AFP) – Ex-Goldman Sachs director Rajat Gupta turned himself in Wednesday to the FBI, and then pleaded not guilty in court to massive securities fraud before being freed on $10 million bail pending trial. The indictment of the biggest fish yet in a growing insider trading scandal reverberated around Wall […]

SYDNEY, October 26, 2011 (AFP) – A Sri Lankan man died in Australian immigration detention, officials said Tuesday, with refugee advocates claiming he killed himself with poison after being refused permission to attend a Hindu festival. An immigration spokesman said the man died shortly after midnight at Sydney Immigration Residential Housing — a family compound […]

Oct 23, 2011 (LBO) – The head of Sri Lanka’s Securities and Exchange Commission said she had not received instructions to sack its director general, following strong speculation that he would be dismissed for probing securities fraud. Asked by reporters whether the SEC would continue its investigations, Sugathadasa said before a formal investigation is started, […]

SYDNEY, October 19, 2011 (AFP) – Sri Lanka’s envoy to Australia Wednesday said a dossier alleging war crimes during the dying days of his country’s civil war only served to fuel the agenda of “vested interests”. Thisara Samarasinghe, who was a commander in the Sri Lankan navy during the conflict which ended in 2009, said […]

SYDNEY, October 17, 2011 (AFP) – Australian police were Monday examining a war crimes dossier alleging Sri Lankan authorities bombed and shelled civilians during the country’s civil war, which ended in 2009. Prepared by the International Commission of Jurists’ Australian chapter, the brief contains testimony from Sri Lankans now living in Australia that they were […]

NEW YORK, October 13, 2011 (AFP) – Disgraced star Wall Street hedge fund manager Raj Rajaratnam was sentenced Thursday to 11 years behind bars in the heaviest US sentence for insider trading, although far below what prosecutors had sought. New York federal Judge Richard Holwell also ordered the Sri Lankan-born founder of the Galleon Group […]

NEW YORK, October 9, 2011 (AFP) – Raj Rajaratnam, convicted in the biggest US insider trading case for years, faces a sentence of up to 24 years prison next week at the close of a case seen as making an example of the hedge fund tycoon. The sentencing hearing on October 13 before federal Judge […]

Oct 02, 2011 (LBO) – Five police officers have been arrested in Sri Lanka after thousands of angry citizens surrounded a police station seeking justice, where a suspect had died in custody, a media report said. Sri Lanka’s The Sunday Times newspaper said an estimated 3,000 civilians had surrounded a police station in Dompe in […]

THE HAGUE (AFP) – Dutch prosecutors Tuesday asked for jail sentences between 10 to 16 years against five suspected Tamil Tigers for aiding the Sri Lankan rebel movement from the Netherlands, including collecting funds. Prosecutors said by extension, the men were responsible for the LTTE’s actions like the recruitment of child soldiers and murder. Arrested […]

Sept 28, 2011 (LBO) – Sri Lanka’s Securities and Exchange Commission said five employees of SMB Leasing, will be charged for insider dealing on the firm’s stock. The SEC said the employees had bought shares ahead of a rights and warrant issue by the company. Information on the rights issue had been made public on […]

JOINT BASE LEWIS-MCCHORD, September 23, 2011 (AFP) – A third member of an alleged rogue US army unit in Afghanistan pleaded guilty Thursday in a plea deal over shock killings of local civilians that embarrassed the US army. Private First Class Andrew Holmes was accused of being a member of a five-person “kill team” implicated […]

Sept 23, 2011 (LBO) – Sri Lanka’s parliament has passed changes to laws against money laundering and terrorist financing, broadening their scope and enabling police to freeze funds. The amendments make the island’s anti-money laundering and Countering Financing of Terrorism (AML/CFT) laws “fully compliant with the international standards,” a statement from the central bank’s financial […]