Raj Rajaratnam, Srilankan born US tycoon who was arrested on charges of insider trading has started selling some of his firm's holdings in the island nation to finance his $100 million bail. The Chief of Galleon fund had appealed to reduce the bail amount, but the Judge Theodore Katz had said that there 'was no need to visit the bail amount'. The US sources reports that Mr Rajaratnam was sued for the numerous damages effected by the Srilankan war since the new army Chief Kumaran Pathmanabhan revealed that the tycoon was a major contributor of money to finance the war related expenses of the LTTE.