Hedge Fund Crook Raj Rajaratnam Accused of Funding Tamil Terror (IBTimes)
On Wall Street, Raj Rajaratnam is famous for being a perpetrator in one of the biggest insider trading cases in history. But he’s also the subject of another lawsuit that’s only just beginning. It involves money, death and terrorists. Three years ago, Rajaratnam was found guilty of securities fraud involving his Galleon Group hedge fund and sentenced to 11 years in prison. But later this month, attorneys will begin the discovery process for another case that dates even further back. Rajaratnam, his father and his family’s organisation are accused of sending funds to the Liberation Tigers of Tamil Eelam, a US-designated terrorist group that fought for an independent state for the Tamil people in Sri Lanka’s decades-long civil war…
‘Dr. Doom’ Roubini reveals his black swan scenarios (HereIsTheCity)
Economist Nouriel Roubini, renowned for his foretelling of the housing bust and financial crisis, has revealed the key flashpoints that are keeping him up at night, which he believes could hit “rationally complacent” financial markets. In an opinion piece on the Project Syndicate website, published late Tuesday, he said that an “obvious paradox” had occurred with oil prices ticking lower and equity traders remaining bullish despite a series of geopolitical risks that have flared up in 2014. “A century ago, financial markets priced in a very low probability that a major conflict would occur, blissfully ignoring the risks that led to the first world war until late in the summer of 1914,” he said.
A gaffe is forever on the US campaign trail (FT)
For Bruce Braley, the fundraiser with a group of fellow lawyers was to be a discreet affair, where the Democratic candidate for the Senate in Iowa could make a private pitch for support for November’s congressional election. …The largest tracking group, Democratic-aligned American Bridge, founded in 2010, and backed by hedge fund billionaire George Soros, was pivotal in digging up and rapidly disseminating material in 2012 on Mitt Romney and Republican candidates. “We proved during the last cycle – the earlier the better,” said Kelli Farr, who has the title of director of tracking. “It is vital to catch them – we don’t like to call them gaffes; it’s more them showing who they truly are.”
Chicago Billionaire Ken Griffin says wife already got $35 million (SunTimes)
It’s going to be a billionaire brawl. In a tandem divorce tango Thursday, billionaire hedge fund czar Ken Griffin and his estranged wife, Anne Dias Griffin, filed counter-petitions against each other in the Circuit Court of Cook County. …But within minutes of Griffin’s filing, Dias Griffin brandished her her own legal sword: A petition asking a judge to issue an temporary restraining order against her husband for exclusive use of their marital residence, on three floors at 800 N. Michigan Ave.. She also asked for access to the family homes across the country and for temporary support from her husband to continue paying the bills.
Andrew Barroway drops lawsuit against Islanders owner Charles Wang (NewsDay)
Philadelphia hedge fund manager Andrew Barroway dropped his lawsuit that accused Islanders owner Charles Wang of backing out of a deal to sell him the team for $420 million, according to a court filing on Friday. No reason was given in the papers. Barroway sued the Islanders owner on Aug. 11 in an attempt to either enforce the terms of a purchase agreement that was drawn up – but not signed – in March or award him a “breakup fee” of $10 million. The New York Post reported on Friday that Barroway is in “advanced negotiations” to purchase a controlling interest in the Phoenix Coyotes. Barroway attorney Simon Miller did not immediately respond to a message seeking comment.
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