He’s Tamil, from Sri Lanka. and gave the Tamil Rehabilitation Organization $3.5 million. Their assets were frozen in the US in Nov 2007 by Treasury after being judged a link to the Tamil Tigers.
The Feds apparently used techniques against him they typically use against organized crime and drug cartels, and this has Wall Streeters in a frenzy of panic. (Um, why haven’t the Feds always used such techniques?)
The insider trading was simple. They had informants everywhere who would leak them important insider knowledge that they would then trade upon. One informant was at Moody’s, there were many others.
Rajaratnam is a billionaire. The insider trading netted him $20 million over a number of years. He didn’t need the money. Sue is a Certified Fraud Examiner and says, ‘why do people worth $200 million try to steal a few million more. I don’t know why either, but it happens all the time.’
(An apology is in order. I’ve previously slammed Dubai for some of their financial practices. Hey, they aren’t doing anything Wall Street isn’t doing. We need to clean up our own back yard. Now.)