Category: Legal

May 4, 2011 (AFP) – The jury in the Wall Street insider trading trial of hedge fund founder Raj Rajaratnam was ordered Wednesday to restart deliberations from scratch after one juror had to be replaced. Judge Richard Holwell instructed the jury that after one of their members had to be replaced for medical reasons, the […]

NEW YORK, May 2, 2011 (AFP) – Jury deliberations in Wall Street’s biggest insider trading trial for a generation will be suspended for a day, a judge ordered Monday, as the wait for a verdict entered its second week. Judge Richard Holwell in New York federal court said deliberations would resume Wednesday after pausing “in […]

May 2, 2011 (AFP) – Sri Lanka’s sports minister on Monday ordered a police inquiry into match-fixing allegations levelled by former international captain Hashan Tillakaratne. Tillakaratne, who played 83 Tests and 200 one-dayers during a 15-year career, said last week that Sri Lankan players had been involved in match-fixing since 1992 adding that he was […]

NEW YORK, April 25, 2011 (AFP) – A jury began deliberating Monday in Wall Street’s biggest insider trading court case in years, targeting Galleon hedge fund founder Raj Rajaratnam, accused of profiting from insider information. Federal Judge Richard Holwell instructed jurors to use “fairness and impartiality” and said they are “the soul” of the case. […]

NEW YORK, April 21, 2011 (AFP) – The jury in Wall Street’s biggest insider trading court case in a generation was due to start deliberating Monday after the conclusion of a seven-week trial. The defense for Galleon hedge fund founder Raj Rajaratnam completed its case in New York federal court Thursday by saying the government […]

NEW YORK, April 20, 2011 (AFP) – Federal prosecutors cited “devastating” evidence Wednesday against hedge fund tycoon Raj Rajaratnam at the close of the biggest Wall Street insider trading trial in a generation. In the government’s closing statement against Sri Lankan-born Rajaratnam, Assistant US Attorney Reed Brodsky said secret tape recordings of phone conversations with […]

March 31, 2011 (AFP) – Sri Lankan police remanded in custody on Thursday an employee of an anti-government website over allegations that he made threats to the brother of an arson suspect. Police spokesman Prishantha Jayakody said Bennet Rupasinghe, the Sri Lanka-based news editor of lankaenews.com, was arrested and remanded in custody until April 7. […]

Apr 01, 2011 (LBO) – Sri Lanka has fined Standard Chartered Bank 27 billion rupees, (245 million US dollars) under the country’s exchange controls laws for a capital transfer over a disputed oil derivative, a media report said. Sri Lanka’s Standard Chartered Bank, Citibank, Deutsche Bank and two local banks sold complex leveraged options positions […]

NEW YORK, March 23, 2011 (AFP) – Goldman Sachs boss Lloyd Blankfein on Wednesday testified at the biggest Wall Street insider trading trial in years about how a former director at the storied bank broke confidentiality rules. Blankfein said former Goldman director Rajat Gupta broke the firm’s internal regulations in 2008 by giving hedge fund […]

March 13, 2011 (AFP) – Sri Lankan immigration authorities detained a Pakistani journalist with the same name as the man who staged an abortive car bomb attack in New York’s Times Square last year, officials said Sunday. Faisal Shahzad, an Islamabad-based reporter, was allowed to enter the country to cover the World Cup after spending […]

OTTAWA, March 9, 2011 (AFP) – An asylum seeker from Sri Lanka has been ordered deported over his links to an extremist Tamil separatist group, Canada’s Immigration and Refugee Board announced Wednesday. The man, whose identity cannot be revealed under Canadian law, came to Canada last year aboard the rickety cargo ship MV Sun Sea […]

NEW YORK, March 8, 2011 (AFP) – The trial of former hedge fund tycoon Raj Rajaratnam began Tuesday in New York with the painstaking selection of a jury in a case prosecutors see as an example of Wall Street corruption and greed. Sri Lankan-born Rajaratnam, 53, used insider information at his Galleon Group fund to […]