Lawsuit alleges Rajaratnam funded Tigers

Raj Rajaratnam, the billionaire hedge fund manager charged in an insider trading case, was accused on Thursday in a civil lawsuit of providing financial support to Sri Lanka’s Tamil Tigers, which is considered a terrorist group by the US.

The lawsuit was filed in New Jersey by more than 30 people who claim to be victims and survivors of bombings committed by the group formally known as the Liberation Tigers of Tamil Elam. They allege that Mr Rajaratnam, who is Sri Lankan, and the family foundation headed by his father provided millions of dollars in funds used for terrorist attacks.

“We have what we believe is incontrovertible evidence that the money of Mr Rajaratnam and his father made its way to the LTTE as intended, that they knew the LTTE was engaged in a massive campaign of terrorism, and that they supported the LTTE’s goals and tactics,” said Michael Elsner of Motley Rice, who is representing the plaintiffs.

Mr Rajaratnam’s attorney said the accusation that his client supported the LTTE is “flatly untrue and libelous, and we are confident that the court will dismiss these baseless charges”.

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