REFUGEE

A US-based hedge-fund billionaire has been charged with other men as part of an alleged insider-trading scam.

It has been revealed that Raj Rajaratnam, founder of the Galleon Group, was also once investigated by US authorities for allegedly raising funds for a Sri Lankan separatist group.

The Wall Street Journal has said federal agents uncovered documents showing that Mr Rajaratnam was among several wealthy Sri Lankans in the United States who donated to a US charity, which allegedly fed the money back to the Liberation Tigers of Tamil Eelam.

Rajaratnam, 52, was among six people arrested Friday in what the Federal Bureau of Investigation has said is the largest-ever, hedge-fund insider-trading case.

Rajaratnam’s legal team has already signalled the charges will be refuted by their client