Insider Trading Wiretap May Be Result of Terror Investigation

On top of his arrest for insider trading, Raja Rajaratnam now faces a civil suit over his alleged funding of the Tamil Tigers terror group.

Mr. Rajaratnam is a Tamil born in Sri Lanka, and he has given to organizations that have later been shut down and accused of funneling money to the LTTE, so it is hardly surprising that he was the subject of a wiretap.

My older post does not mention Tamil tiger link, but suggests that the introduction of wiretaps against Wall Street crooks is a good thing.

Unfortunately, it now appears that the wiretaps may not be a case of regulators choosing a tool to pursue fraud, but just an a terror investigation revealing a different crime.