Oct 04, Colombo: The trial against Sri Lankan-born Galleon hedge fund founder Raj Rajaratnam for allegedly funding Sri Lanka's Tamil Tiger terrorist group Liberation Tigers of Tamil Eelam (LTTE) is expected to begin as early as 2015.
India's International Business Times quoting the law firm representing the complainants said the firm is working on the case with the possibilities of development and is likely to disclose evidences to be used against Rajaratnam later in October.
More than 30 Sri Lankans who were victims and survivors of the LTTE attacks filed a lawsuit in October 2009 against the Wall Street billionaire Rajaratnam and his father, J. M. Rajaratnam for knowingly providing financial and other support to the Tamil Tiger terrorist group.
In a seven-count complaint filed in the U.S. District Court for the District of New Jersey by the law firm Motley Rice LLC, family members of those killed and survivors of bombings committed by the vanquished terror group LTTE alleged that Rajaratnam and the family foundation headed by his father provided millions of dollars in funds used for terrorist attacks.
The complaint documents donations from the Rajaratnam Family Foundation to the Tamil Rehabilitation Organization (TRO), which is listed a front organization of the LTTE in the U.S., totaling well over US$ 5 million from 2001 to 2007 in addition to the US$ 3.5 million donated by Rajaratnam.
However, the case has since been kept on hold because of several factors.
"We do know that money moved that way, but the issue at trial will be whether he knew. The timing of it was unfortunate for us because we had been working on the case for so long, and the US government filed their claims first," Motley Rice attorney Michael Elsner told International Business Times.
Although the attorney expects the trial to begin next year he says there are hurdles in his way such as procuring documents supporting complainants' accusations -past financial transactions -which he considers difficult.
"He was a hedge fund investor, so he has a sophisticated sense of how to move money and how to move it in ways that couldn't be detected. The discovery will be interesting and challenging," he said.
Raj Rajaratnam, 57, is currently serving an 11-year prison term after convicted by the Federal Court in New York in October 2011 for insider-trading.