Sunday September 18, 2011| President goes to New York for diplomatic counter-offensive |
| By our Diplomatic Editor |
| The government has lashed out at UN Secretary-General Ban Ki-moon for submitting, what it calls a deeply-flawed report of the UN panel on Sri Lanka, both to the High Commissioner for Human Rights and the President of the Human Rights Council in Geneva. |
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With JVP also in turmoil, Rajapaksa rides high
Sunday September 18, 2011
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| By Our Political Editor |
Internecine battles within the Janatha Vimukthi Peramuna (JVP), between the now liberal, metamorphosed moderate leadership and radical extremists have come into the open spilling in its wake many secrets hitherto unknown of the Marxist party. |
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Admitted Sri Lankan insider handed 18-month prison term
Saturday , 17 September 2011
A Sri Lankan has been handed an 18-month prison term by the US District Court for pleading guilty in the U.S. campaign against insider trading last Thursday.The person who has been convicted is a 37-year-old Sri Lankan-born U.S citizen by the name of Manosha Karunatillake.
He has previously pleaded guilty in a Federal Court at Manhattan for passing information about a Taiwan semi conductor manufacturing company where he served as the Account Manager, to primary global research, which is an expert network that provides information to investors and hedge funds.
The convict is the latest defendant to be sentenced as a result of a crackdown by Federal prosecutors on insider trading.
This incident was reported on the same day the Securities and Exchange commission of Sri Lanka found five investment advisers belonging to three stock broking firms and two investors guilty of market manipulation.
The SEC stated that legal action will be initiated against one manipulator, while letters of caution have been issued to the rest.
Newsfirst spoke to Economist Harsha de Silva on the contrasting punishments that have been meted.
