Word: sri
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...September," Sarath Godakanda, an official at the Ministry of Justice and Law Reforms, told TIME. It was not clear whether the funds pledged by Rajaratnam had already been received. The International Organisation of Migration, the U.N. agency that is implementing the rehabilitation project, said that it was consulting the Sri Lankan government on a decision on how to move forward on the pledge made by Rajaratnam. (See the top 10 crooked CEOs...
...objections owing to Rajaratnam's suspected links with the Tigers and the Tamil Rehabilitation Organisation (TRO), another group that has been accused of being a front for the Tigers. Rajaratnam is believed to have donated over $2 million to the TRO, which has been banned in the U.S. and Sri Lanka since 2007. The organization has always denied that it is a front for the Tigers, arguing that it was engaged in charitable and humanitarian work in Tamil-majority areas in northern and eastern Sri Lanka during the civil-war years. The ministry had also shared a dossier on Rajaratnam...
...Central Bank of Sri Lanka said on Monday, three days after his arrest in New York City, that its investigations into Rajaratnam and his donations to the TRO were ongoing. "The Central Bank states that investigations are yet continuing in relation to the funding allegedly provided by Raj Rajaratnam to the TRO," the Bank said in an official statement. Rajaratnam's donations to the TRO had been closely monitored by Sri Lankan authorities, according to Sri Lankan security expert Shanaka Jayasekara, attached to the Centre for Policing, Intelligence and Counter Terrorism at Macquarie University in Sydney, Australia. "He had come...
...bourse and in John Keells Holdings, the largest publicly traded company in the $10 billion market. The market fell 1.6% on Monday, the first day of trading after the Rajaratnam arrest. Brokers said the slide was a knee-jerk reaction to the arrest and could be weathered. "Sri Lanka is the flavor of the month and a lot of first-time international investors are coming in," says Murtaza Jafferjee, managing director at JB Securities, referring to the inpouring of investment brought on by the end of the island's decades-long civil war in May. (Read about Sri Lanka...
...Rajaratnam been arrested four years ago, when he was a more dominant force in the market. In 2005, when he made a move to shed some of his holdings, it too was met with the repetition of accusations that he was working on behalf of the Tigers. Just before Sri Lanka went to polls to elect a new President that November, Rajaratnam began selling shares. The move led to speculation that he had prior knowledge of a vote boycott forced by the Tigers in areas under the latter's control. In an August interview, Rajaratnam denied the accusations and said...