Billionaire charged in insider trading case is sued in NJ by victims of Sri Lankan rebels

Victims of Sri Lankan rebels sue billionaire in NJ

NEW YORK — A billionnaire hedge fund manager charged in a $25 million insider trading case now faces a lawsuit saying he helped finance Sri Lankan rebels.

The federal lawsuit was filed Thursday in Newark, N.J., against Raj Rajaratnam (rah-juh-RUHT’-nuhm), a portfolio manager for Galleon Group. The hedge fund has about $3.7 billion in assets.

Victims of rebel attacks sued Rajaratnam. They claim he and an organization knowingly provided support to the Liberation Tigers of Tamil Eelam to advance its violent separatist campaign. The lawsuit seeks unspecified damages.

Rajaratnam, one of America’s wealthiest people, was among six executives and fund managers charged in Manhattan last week with conspiracy. He is free on $100 million bail.