There is a saying that Small boats become big ships and big ships become boats

Same is the case here

A world 264 ranked in RICHNESS .. now in jail for 11 years

God bless india..

#236 Raj Rajaratnam - The Forbes 400 Richest Americans 2009

PatrickMcMullan.com

Net Worth $1,500 million Age 52 Marital StatusMarried, 3 children

Source hedge funds, Self Made Hometown New York, New York, United States Education (U of Penn Wharton, Master of Business Administration), (U of Sussex, Bachelor of Arts / Science)

Hedge fund titan's Galleon Group has returned 20% so far this year; firm's funds down 6% last year net of fees, outperforming the Nasdaq by 33%. Born in Sri Lanka. Studied engineering at U. of Sussex in England. Moved to U.S. 1981, earned M.B.A from Wharton 2 years later. Took analyst gig at investment banking boutique Needham & Co. Coverage area: electronics. Promoted to president 1991. Launched Galleon 6 years later. Initially invested in technology stocks; says best ideas come from frequent visits with companies, conversations with execs who invest in his fund. Firm's 5 biggest equity holdings this summer: Ebay, Google, Apple, OSI Pharmaceuticals, Bank of America.

The Raj Rajaratnam , the Sri Lankan-origin businessman arrested for alleged hedge-fund fraud in the US, was one of the largest contributors of money to the Liberation Tigers of Tamil Eelam (LTTE), a top Tamil Tiger leader in government custody has revealed. Kumaran Pathamanathan, known as KP and appointed LTTE chief after V. Prabhakaran was killed and the Tigers defeated in May, has said that Rajaratnam contributed lavishly to the LTTE and its sympathisers in the West. KP has revealed that Raj Rajaratnam, who was nabbed by the Federal Bureau of Investigations after listening to him by wire taps for criminal insider trading scams, has given money lavishly for the terrorist group and its Western sympathiser individuals, the defence ministry quoted KP as saying.

KP, who was LTTEs international relations chief and arms procurer, was arrested from a hotel in Kuala Lumpur in August, weeks after his appointment as the outfits chief. The ministry quoted sources close to the government as saying that KPs revelations about Rajaratnams contributions to the LTTE tally with some findings of US investigations. KP, the ministry said, also revealed the businessmans links with a top opposition politician. These disclosures by KP, as claimed by the defence ministry, will be crucial as the Central Bank of Sri Lanka has said that the government will not seize Rajaratnams local investment portfolio and assets till he is proven guilty of financing terrorism

Arrest for insider trading

Wikimedia Commons has media related to: Rajaratnam wiretapped conversation

On Friday October 16, 2009, Raj Rajaratnam was arrested by the FBI and accused of conspiring with others in insider trading in several publicly traded companies. U.S. Attorney Preet Bharara put the total profits in the scheme at over $60 million, telling a news conference it was the largest hedge fund insider trading case in United States history.
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Jim Walden, an attorney for Mr. Rajaratnam, said his client is

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innocent and will fight the insider-trading charges.

Rajaratnam allegedly profited from information received from Robert Moffat, an IBM executive, Rajiv Goel, an Intel Capital executive, and Anil Kumar, a McKinsey & Company executive. It was reported that Rajaratnam, Goel and Kumar were all part of the class of 1983 from Wharton business school.
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Another defendant in the same case, Roomy Khan, was previously convicted in U.S. District Court, Northern District of California in 2002 of wire fraud, Intel, to Rajaratnam. The Sri Lankan stock market fell sharply after his arrest on insider trading charges in October 2009.
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for providing inside information from her employer,

Sri

Lanka's Securities and Exchange Commission is reviewing the active stock trading of Raj Rajaratnam with a view of identifying any insider trading.

It said he also conspired to get confidential information on the $5 billion purchase by Warren Buffetts Berkshire Hathaway of Goldman preferred stock before the September 2008 announcement of that transaction. The Wall Street Journal reported in April that a former member of the board of directors of Goldman Sachs and former McKinsey & Company chief executive Rajat Gupta told Rajaratnam about Berkshire's investment before it became public.
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Gupta stood to profit as would-be chairman of Galleon

International, a co-founder of New Silk Route with Rajaratnam, and as a friend of Rajaratnam. In March 2011 Gupta was charged in an administrative proceeding by the SEC. He maintains his innocence. On May 11, 2011, Rajaratnam was found guilty on all 14 counts of conspiracy and securities fraud. On October 13, 2011, Rajaratnam was sentenced to 11 years in prison. This is the longest prison sentence ever handed out for insider trading. The thirteen other defendents connected to Rajaratnam's case received prison sentences averaging three years each.