The recent arrest of Raj Ratnam by the US authorities, founder and head of the New York based Galleon Management hedge fund has raised alarm bells in the government and business circles of Sri Lanka. He was a major investor in Sri Lanka's 10-billion-dollar bourse which is among the world's best performing markets. Political and economic observers are of the opinion that the arrest of Raj Ratnam has given a major blow to Sri Lanka's stock market.<br/>Rajaratnam who is of Sri Lankan origin and his fellow alleged conspirators have been accused of earning 20 million US dollars from illegal trading in what US media reports said was the biggest-ever hedge fund insider dealing scheme.<br/>