More than 30 victims and survivors of Tamil Tiger terror, in Sri Lanka, are said to be behind the suit. Rajaratnam's father has also been accused of funding Tamil Tiger attacks in Sri Lanka.
"The hope of our clients is that by bringing this lawsuit, it will publicly expose the financing the LTTE from the U.S., particularly Raj, his father and the TRO," said Mike Elsner, the lead attorney representing the victims filing the suit, in an interview with ABC News.com. "This lawsuit will act as a warning to other people, who fund terrorist groups, that if they do so they risk civil prosecution in the United States."Meanwhile, Bloomberg reports that Rajaratnam has posted his Manhattan apartment as bond security.
Sri Lankan billionaire Raj Rajaratnam today returned to Manhattan federal court, where he faces charges of trading on inside information, to post his Manhattan apartment as security for a $100 million bail bond.
Rajaratnam was among six people charged on Oct. 16 in a $20 million insider trading scheme that federal prosecutors called the biggest ever involving hedge funds. He was freed by a magistrate judge on a $100 million bond, of which $20 million had to be guaranteed. He and his lawyer today filed a document offering his apartment at 60 Sutton Place South in Manhattan as the guarantee.