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Wednesday, 19 September 2018
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Dodgy Deals at Stock Market & Rajarathnam PDF Print E-mail
As some insisted of the record upheaval of our local share market as the economical masterpiece of the century, the best economical development that can happen to SL, there is a portion who might think otherwise.

Though the Govt might sing it’s praise, the unprecedented glory that had arrived out of the blue, transferring the share prices in to baffling increases or declines, could definitely be referred to as Dodgy. And the arguers do have a solid point in saying so.

The aftermath of a recent record increase of share prices, brought to the light of the fact the financial swindler of the LTTE, Raj Rajaratnam has invested some of his millions in the market in SL. His investments involved in with some of the giants in the arena, such as Commercial Bank, NDB, DFCC etc, has also bought a large portion of John Keells. The declining of the share market after the revelation of KP in the involvement of Rajaratnam, highlights the fact how much unsure it is still the amount he has invested here in the local grounds.

Rajaratnam who aquired no legal requirements to invest in the share market, has so far managed strengthen his clutches of the arena from his US abode, could make matters worse with his henchmen on the loose.

The latest development of the matter reveals of KP’s testimony claiming Rajaratnam’s purchase of 42% of shares of Sri Lanka Telecom. The LTTE has bought shares of Sri Lanka Telecom through the Malaysian Company Maxis. The highly innovative plan of bringing down the SL economy by investing in the national communication system has certainly created the effectes wonted. With a 320,000 million deal that did not pull through and a CEO of SLT pumping a whopping  Rs. 13 million monthly salary, the national communication system is going down hill without the aid of the late LTTE regime.
On the other hand Raj Rajaratnam, a super successful business person with massive international support and recognition, influencing many an internal and external affairs on Sri Lankan military and economical outcomes, has continually proclaimed his innocence on charges framed against him.
Raj Rathnam issued a letter to employees of his Galleon Fund and its investors, refuting his alleged involvement with the terrorist organization, reassuring them of his innocence.

The New York Times carried the letter written by Rajaratnam and the full text of the letter is as follows: October 21, 2009

Dear Galleon Employees, Clients and Friends,
“I have decided that it is now in the best interest of our investors and employees to conduct an orderly wind down of Galleon’s funds while we explore various alternatives for our business. At this important time, I want to reassure investors of the liquidity of our funds and assure Galleon employees that we are seeking the best way to keep together what I believe is the best long / short equity team in the business.”

“As many of you know, we have built our business on the fundamental belief in rigorous investment analysis combined with active trading around core positions. We have encouraged and invited our investors to attend our daily research morning meetings. Many of you have done so and got a first-hand look at our process. This research process is the core of our investment and trading strategy.”

“The privilege of managing investors’ capital is a responsibility that I have always taken very seriously. I want to reiterate that I am innocent of all charges and will defend myself against these accusations with the same intensity and focus I have brought to managing our investors’ capital.”
“For those who have been my partners and supporters over the last 17 years, I sincerely thank you. I also want to thank you for the innumerable expressions of support I have received from you over the past few days. “
Raj Rajaratnam.

The clever scheming of the mass organization LTTE, though disappeared, has created lasting effects in the rampage of its terrorization and the cultivated talisman. It is enough to threaten the stabilization of a country, and has many of it’s versions, unknown and unrecognized. Rajaratnam is just one ploy in the vast fields of operation conducted by the LTTE. With the massive international support it received and still being received, makes an impression of what great powers attached to the organization.

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