News
Raj Rajaratnam hits out at an unfair conviction in a ‘tell all’ book
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)
Latest News
Interment of singer Latha Walpola at Borella on Wednesday [31st]
Family sources have confirmed that the interment of singer Latha Walpola will be performed at the General Cemetery Borella on Wednesday (31 December).
News
Western Naval Command conducts beach cleanup to mark Navy’s 75th anniversary
In an environmental initiative commemorating the 75th anniversary of the Sri Lanka Navy, the Western Naval Command organized a cleanup programme at Galle Face Beach on Saturday (27 Dec 25).
The programme focused on the removal of substantial solid waste littering the beachfront, including accumulated plastic and polythene debris. All collected wastey was systematically disposed of utilizing methods designed to safeguard the sensitive coastal ecosystem.
Demonstrating a strong commitment to the cause, the cleanup effort saw the participation of the Commander Western Naval Area and a group of over 200 naval personnel.
News
Environmentalists warn Sri Lanka’s ecological safeguards are failing
Sri Lanka’s environmental protection framework is rapidly eroding, with weak law enforcement, politically driven development and the routine sidelining of environmental safeguards pushing the country towards an ecological crisis, leading environmentalists have warned.
Dilena Pathragoda, Managing Director of the Centre for Environmental Justice (CEJ), has said the growing environmental damage across the island is not the result of regulatory gaps, but of persistent failure to enforce existing laws.
“Sri Lanka does not suffer from a lack of environmental regulations — it suffers from a lack of political will to enforce them,” Pathragoda told The Sunday Island. “Environmental destruction is taking place openly, often with official knowledge, and almost always without accountability.”
Dr. Pathragoda has said environmental impact assessments are increasingly treated as procedural formalities rather than binding safeguards, allowing ecologically sensitive areas to be cleared or altered with minimal oversight.
“When environmental approvals are rushed, diluted or ignored altogether, the consequences are predictable — habitat loss, biodiversity decline and escalating conflict between humans and nature,” Pathragoda said.
Environmental activist Janaka Withanage warned that unregulated development and land-use changes are dismantling natural ecosystems that have sustained rural communities for generations.
“We are destroying natural buffers that protect people from floods, droughts and soil erosion,” Withanage said. “Once wetlands, forests and river catchments are damaged, the impacts are felt far beyond the project site.”
Withanage said communities are increasingly left vulnerable as environmental degradation accelerates, while those responsible rarely face legal consequences.
“What we see is selective enforcement,” he said. “Small-scale offenders are targeted, while large-scale violations linked to powerful interests continue unchecked.”
Both environmentalists warned that climate variability is amplifying the damage caused by poor planning, placing additional strain on ecosystems already weakened by deforestation, sand mining and infrastructure expansion.
Pathragoda stressed that environmental protection must be treated as a national priority rather than a development obstacle.
“Environmental laws exist to protect people, livelihoods and the economy,” he said. “Ignoring them will only increase disaster risk and long-term economic losses.”
Withanage echoed the call for urgent reform, warning that continued neglect would result in irreversible damage.
“If this trajectory continues, future generations will inherit an island far more vulnerable and far less resilient,” he said.
Environmental groups say Sri Lanka’s standing as a biodiversity hotspot — and its resilience to climate-driven disasters — will ultimately depend on whether environmental governance is restored before critical thresholds are crossed.
By Ifham Nizam ✍️
-
News6 days agoMembers of Lankan Community in Washington D.C. donates to ‘Rebuilding Sri Lanka’ Flood Relief Fund
-
News4 days agoBritish MP calls on Foreign Secretary to expand sanction package against ‘Sri Lankan war criminals’
-
News7 days agoAir quality deteriorating in Sri Lanka
-
News7 days agoCardinal urges govt. not to weaken key socio-cultural institutions
-
Features6 days agoGeneral education reforms: What about language and ethnicity?
-
Opinion7 days agoRanwala crash: Govt. lays bare its true face
-
News6 days agoSuspension of Indian drug part of cover-up by NMRA: Academy of Health Professionals
-
News7 days agoCID probes unauthorised access to PNB’s vessel monitoring system
