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Raj Rajaratnam hits out at an unfair conviction in a ‘tell all’ book

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Billionaire financier, Raj Rajaratnam, American of Sri Lankan descent who founded the Galleon Fund, now out of jail after serving seven and a half years of an 11-year sentence, has written what Amazon calls “a hot new release on criminal law……… illustrating prosecutorial overreach.”

The book is titled “Uneven Justice” with a subtitle “The Sinking of Galleon.” The hedge fund managed USD seven billion and employed 180 people in its heyday.

The writer who was arrested in October 2009 and charged with insider trading, says he chose to fight the charges against him “because I was innocent” and understanding the stakes chose to go trial because he expected a fair hearing.

He says he believed that that with a fair hearing and a rational exposition of the facts, “the truth would have prevailed.” He took the chance despite his understanding that in the US there is a 97% conviction rate, similar to Russia and China, and a punitive trial penalty for those who dare to go to trial.

“Empirical studies have shown that the trial penalty is just about double that handed to those who plead guilty. If a defendant agrees to become a cooperating witness, helping the government with testimony –irrespective of the truth – to convict another defendant, the co-operating witnesses gets a much reduced-sentence and in many cases just parole,” he says in the preface of his book.

Its sales proceeds will be donated to charity.

The Amazon blurb says that Rajaratnam chose to go to trial rather than concede to a false narrative concocted by ambitious prosecutors looking for a scapegoat for the 2008 financial crisis.

“As an immigrant who had achieved tremendous success in his adopted country, he trusted the system. He had not anticipated prosecutorial overreach – inspired by political ambition – FBI fabrications, judicial compliance and lies told under oath by cooperating witnesses,” the blurb says.

“Meanwhile not a single bank executive responsible for the financial crisis was ever charged.”

(See Rajaratnam’s preface to the book on p-12)



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Navy brings fisherman in distress off Pothuvil, ashore

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The Sri Lanka Navy rescued a fisherman from a local fishing trawler that encountered distress due to adverse weather conditions off the eastern coast of Sri Lanka.

The rescue operation took place on 17 July 2026, approximately 15 nautical miles off Pothuvil.  The operation was launched following information received by the Maritime Rescue Coordination Centre (MRCC) Colombo.

In response, the Sri Lanka Navy deployed the Offshore Patrol Vessel SLNS Vijayabahu along with additional craft to conduct a search operation in the designated sea area, where they successfully located the distressed fisherman.

Following the rescue, the individual was brought aboard SLNS Vijayabahu, where naval personnel administered preliminary first aid. He was subsequently brought to the mainland and rushed for further medical attention.

Meanwhile, the Navy, along with the coordination of MRCC Colombo, remains constantly prepared to swiftly respond to the eventualities faced by maritime and fishing communities operating within the island’s Search and Rescue Region (SRR).

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Dengue outbreak gallops ahead: Infections surpasses 73,455, leaving 50 dead

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The countrywide dengue outbreak has intensified, with the death toll rising to 50, by July 16, as the number of reported infections surpassed 73,000, according to the National Dengue Control Unit (NDCU).

The country has recorded 73,455 dengue cases so far this year, with the case fatality rate standing at 0.07 percent, highlighting the severity of the ongoing outbreak.

The Western Province continues to remain the worst affected region, accounting for more than half of the total cases, with 38,700 infections. The Gampaha District has recorded the highest number of cases in the province with 15,341, followed closely by Colombo with 14,625.

The Southern Province has reported 11,382 cases, while the Sabaragamuwa and Central provinces have each recorded more than 6,000 infections.

Dengue cases have shown a sharp increase in recent months, with June recording the highest monthly total of 21,538 cases, while July has already reported 18,076 infections. In comparison, 8,590 cases were reported in May, and 5,651 in April.

Health authorities have identified 175 Medical Officer of Health (MOH) areas as high-risk locations during the 27th epidemiological week. An average of 2,677 new dengue cases are being reported daily, prompting authorities to intensify prevention and mosquito control measures.

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Evidence recorded in money laundering case against Yoshitha Rajapaksa

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Yoshitha

The Colombo High Court yesterday (17) resumed hearing the money laundering case filed against Yoshitha Rajapaksa, son of former President Mahinda Rajapaksa, under the Prevention of Money Laundering Act.

The proceedings were held before High Court Judge Udesh Ranatunga, where evidence was recorded from prosecution witnesses, under the direction of Deputy Solicitor General Janaka Bandara.

President’s Counsel Sampath Mendis, appearing for Yoshitha Rajapaksa, cross-examined the witnesses during the hearing.

After recording evidence, the court ordered that further examination of evidence be postponed until July 24.

The Attorney General has filed indictments, alleging that Yoshitha Rajapaksa committed an offence, under the Prevention of Money Laundering Act, by purchasing five plots of land in Dehiwala and Ratmalana, valued at more than Rs. 73 million.

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