10-19-2009, 08:33 PM
<b>Sri Lanka shares tumble after US fraud charges</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->In a carefully-worded statement, the Central Bank said: "investigations are yet continuing in relation to the funding allegedly provided by Raj Rajaratnam to the TRO (Tamil Rehabilitation Organisaton). Accordingly, any reports that suggest that such investigations are concluded or that Rajaratnam has been cleared of possible involvement are incorrect and misleading."
<b>At one point, he was possibly the largest single investor in the country with stakes in NDB and DFCC banks and the John Keells company among others. "He still owns 7 per cent to 10 per cent in at least 10 top Lankan companies,â</b>â a broker said.
A Tamil from Colombo, Rajaratnamâs home was in the fashionable 'Colombo 7' area. His father was the country head of the MNC Singer and had transferable job. <b>Rajaratnam studied in schools in Sri Lanka, India and the UK and is married to a Sikh from Philippines with whom he has three children. Two Indians arrested along with Rajaratnam were also from the Wharton Business School.</b>
Friends said Rajaratnam was deeply involved in charity. "Rajaratnam gave millions of dollars in charity here and not to Tamil-dominated areas alone. After the tsunami, he carried out housing projects in Hambantota, Galle in the south and Kalmunei in east where the Sinhalese and Muslims are in majority," friend and broker Murtaza Jafferjee said.<!--QuoteEnd--><!--QuoteEEnd-->
<b>At one point, he was possibly the largest single investor in the country with stakes in NDB and DFCC banks and the John Keells company among others. "He still owns 7 per cent to 10 per cent in at least 10 top Lankan companies,â</b>â a broker said.
A Tamil from Colombo, Rajaratnamâs home was in the fashionable 'Colombo 7' area. His father was the country head of the MNC Singer and had transferable job. <b>Rajaratnam studied in schools in Sri Lanka, India and the UK and is married to a Sikh from Philippines with whom he has three children. Two Indians arrested along with Rajaratnam were also from the Wharton Business School.</b>
Friends said Rajaratnam was deeply involved in charity. "Rajaratnam gave millions of dollars in charity here and not to Tamil-dominated areas alone. After the tsunami, he carried out housing projects in Hambantota, Galle in the south and Kalmunei in east where the Sinhalese and Muslims are in majority," friend and broker Murtaza Jafferjee said.<!--QuoteEnd--><!--QuoteEEnd-->