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NY court upholds insider trading conviction of ex-billionaire serving 11-year prison sentence

he conviction of a onetime billionaire on insider trading charges was upheld Monday by a federal appeals court that concluded the government did not cheat to obtain permission to make its most extensive use of wiretaps ever in such a case, according to Associated Press.

Lawyers for 56-year-old Raj Rajaratnam had argued on appeal that the government improperly persuaded a judge in 2008 to permit a wiretap to be placed on Rajaratnam’s cellphone. The wiretap was used to record 2,200 private conversations by Rajaratnam, the founder of the Galleon group of 14 hedge funds. Several dozen of those conversations were played for the jury that convicted him in 2011 of multiple counts of securities fraud and conspiracy to commit securities fraud.

“Rajaratnam’s arguments are not persuasive,” the 2nd U.S. Circuit Court of Appeals wrote in a unanimous ruling by a three-judge panel in Manhattan.

The court said the wiretaps were properly obtained, despite a lower-court judge’s finding that information about a probe of Rajaratnam by the Securities and Exchange Commission was “clearly critical” and that the government acted with “reckless disregard for the truth” in omitting certain information about the investigation in its requests for wiretaps.

The appeals court said it could not conclude that the government acted recklessly in its wiretap requests when fully disclosing the details of the SEC investigation would only have strengthened its argument for wiretaps.

Chronologies of the SEC’s probe strongly suggested that Rajaratnam had been careful to exchange nearly all of his inside information by telephone, the appeals court noted. And it recounted statements by a government lawyer and an FBI agent who said they never thought about including information about the SEC probe in its wiretap application. The appeals panel said the lower-court judge had erred in failing to consider the states of mind of the wiretap applicants.

The Sri Lanka-born Rajaratnam, arrested in 2009, is serving an 11-year prison sentence at a Massachusetts prison after the government said he made $75 million illegally. He did not appeal the legality of his sentence, which was substantially less than the 19-and-a-half to 24-and-a-half years prison term sought by the government.

He is scheduled to be released in 2021. In his criminal case, he was fined $10 million and was ordered to forfeit $53.8 million. He also was ordered to pay a record $92.8 million civil penalty to the SEC.

Prosecutors obtained more than two dozen convictions in a case they once called the biggest insider trading prosecution in history.

Surrey Board of Trade Youth Business Team makes donation to Surrey Memorial Hospital Foundation

At the Surrey Board of Trade’s 49th President’s Dinner and Annual General Meeting on June 20th, a donation was made to the Surrey Memorial Hospital Foundation in the amount of $1,265.00. This donation was made by the Surrey Board of Trade-Junior Achievement Youth Leaders Team, sponsored by Envision Financial. The monies are the net profits from the Youth Team’s business, a six month project where a group of twenty Grade 10-12 students start a business, choose a product, sell their products, liquidate their assets, pay themselves as shareholders and give back to the community – all mentored by the Surrey Board of Trade and Junior Achievement of BC.

Clorox Canada presenting sponsor of International Indian Film Awards 2013 Coverage on OMNI TV

Clorox Canada will be the presenting sponsor of special OMNI TV coverage of the best of Bollywood Awards show — the 14th International Indian Film Academy Awards (IIFA).

Special coverage of Awards will be broadcast in Canada by OMNI TV in the OMNI News: Punjabi Edition and Bollywood Blvd hosted by Veronica Chail.

Over the years, IIFA has emerged as the most prestigious platform recognizing excellence in the Indian film industry, attracting the biggest names of Indian cinema, who congregate at the IIFA weekend and awards to celebrate the best contribution made to the world of films in the previous year.

IIFA is a global platform that gives the Indian film fraternity an opportunity to reach audiences in international territories, and is among the most-watched global events with an audience of over 800 million annually.
In 2011, Toronto, Ontario played host to this event. This year it will be staged at the Venetian-Macao Resort.

“Clorox understands the importance of Bollywood in South Asian Culture and is proud to be part of it,” said Kaery Lall, head of Clorox Canada’s multicultural marketing.

Clorox believes multiculturalism and diversity are integral parts of Canada’s identity, and building on its success in the mainstream market, Clorox is extending its focus to better understand and cater to the needs of the fast-growing South Asian population in Canada.

“We have a fully developed multicultural strategy specifically targeted towards South Asian Canadians. We’re aiming to create a long-term, meaningful relationship with these consumers,” he added.
“They have unique needs, especially in the first five to 10 years of immigrating to Canada, in terms of their product education and usage. We’re looking at dedicating more resources to support these consumers because we see such a tremendous opportunity to meet their product needs.”

The IIFA sponsorship is part of Clorox Canada’s efforts to reach out to South Asian target groups in a broad-based program that includes celebrating with South Asians by sponsoring major festivity-based events such as Diwali, Vaisakhi and other theme-based events like Bollywood Monster Mashup in Canada.

As a part of South Asian oriented initiative, Clorox Canada has also developed in-language websites in Hinglish for the South Asian community as one-stop information platform for cleaning tips and product information.

The Clorox Company of Canada Ltd. has been making cleaning products since 1913. Clorox invented the disinfecting wipe and is the maker of a full suite of household cleaning and laundry products. Many of its products have disinfecting properties that kill bacteria and viruses to help stop the spread of infection.

Women, immigrants lead the way among Canada’s educated classes

When it comes to obtaining higher education, women continue to outpace men, while newcomers are arriving in Canada with more post-secondary experience than the average person who was born here. According to figures released Wednesday by Statistics Canada, women ages 25 to 64 now hold 54 per cent of all university degrees, and 60 per cent of the degrees among young adults (25 to 34 years of age).

But women remain underrepresented, compared with men, in the so-called “STEM” fields: science and technology, engineering, math and computers.

Meanwhile, the Statistics Canada data suggest immigrants comprise just one-quarter of Canada’s total adult population but account for more than one-third of all adults with a university degree. They most likely to have earned their credentials abroad come from the Philippines, India, the U.K., China and the United States.

What’s difficult to extrapolate from the 2011 National Household Survey, however, is whether immigrants and women with degrees are actually working in their respective fields, whether they’re climbing the corporate ladder and whether they’re being compensated appropriately for their job.

It’s no secret that immigrants, despite often-high levels of education, face language barriers, credential-recognition difficulties and higher levels of underemployment and unemployment.

While the government is taking steps to level the playing field for women and ensure Canada welcomes newcomers who are most likely to be successful, experts argue there is still a way to go.

Man gets over 9 years jail term for hate crime against NYC cabbie

An American man has been sentenced to nine and half years in jail for stabbing a Bangladeshi taxi driver in 2010 here after asking whether he was Muslim.

Michael Enright pleaded guilty to attempted murder in the second degree as a hate crime and assault in the first degree as a hate crime, the New York Supreme Court clerk’s office said.

Enright, 24, was sentenced on Tuesday.

In addition to his prison term, he must serve five years of post-release supervision, the clerk’s office was quoted as saying by CNN.

“This was a horrendous crime against an innocent New Yorker. The victim, a native of Bangladesh and the father of four children, has been working and living in our diverse city for nearly three decades. There is no place for bigotry in New York City,” District Attorney Cyrus Vancesaid at Enright’s guilty plea proceeding.

The taxi driver, Ahmed Sharif, suffered slashes across the neck, face, shoulder and hand in the August 2010 attack, the New York Taxi Workers Alliance said.

Prosecutors originally recommended 18 years in jail for Enright. The minimum sentence is eight years, according to his lawyer.

According to Bhairavi Desai of the Taxi Workers Alliance, Enright, then 21, allegedly began conversing with Sharif before asking whether he was Muslim.

Enright then cursed and allegedly shouted, “Assalamu alaikum, consider this a checkpoint.”

Sharif was then stabbed.

Bleeding profusely, he stumbled out of his taxi and managed to flag down a police officer who arrested Enright, the union representative said.

Inaugural Vancouver Collector Car Show a Huge Success

The Vancouver Collector Car Show, Sale plus Auction was a huge success this past weekend with over 16,500 people coming out to the inaugural event. The Show featured 526 classic and custom-built cars, trucks and motorcycles on display throughout the PNE Fairgrounds and 115 vehicles crossed the auction block.

Over 12 car clubs were represented at the Vancouver Collector Car Show, Sale + Auction, showcasing more than 200 vehicles. The BC Hot Rod Association had the largest display at the event, featuring 82 member vehicles. Awards were presented for 19 categories, with the NAACC Outstanding Show Vehicle going to the unique 1954 Cab Over Engine Tourliner, and Best Interior going to local shoe icon John Fluevog for his Jaguar.

Total sales for the auction were in excess of $1.26 million with notable purchases including a 1969 Hemi 500 Charger for $100,000, a 1969 Corvette Roadster for $67,500 and a 1971 Detomaso Pantera that sold over the internet to a bidder from Belgium for $41,000. More affordable sales included $1,700 for a 1964 Mercury Meteor owned by Canadian singer K.D. Lang.

“The response from show attendees and auction participants has been excellent,” said producer Jason Heard. “The auction brought bids from around the world and we’ve received great feedback that will enable us to make the auction that much better for consignors, bidders and spectators next year.”

Planning is already underway for next year’s Show taking place June 21-22, 2014. For more information, please visit: www.VancouverCollectorCars.com.

Growing South Asian Population Prompts Canadians to Learn Punjabi

Thousands of residents from all across the Lower Mainland, along with many Punjabi-speaking attendees, will gather to learn more about one of the oldest books in existence—the Bible. They will attend one of four Bible education conferences that are being held each weekend (Fri. – Sun.) in July, at the Prospera Centre in Chilliwack. Approximately 14,000 Jehovah’s Witnesses and others from across the Lower Mainland will attend.

Two of those attending will be husband and wife Carman and Marjorie Holmes who have lived in the Surrey area for the past 20 years and learned to speak the Punjabi language. “I love these Bible conferences for what I learn and the people I meet. That’s one of the reasons I learned Punjabi is so that I could share what I learn from the Bible with other Punjabi-speaking people. It has been a great experience learning their language and culture. Many of them are very spiritual and they love to learn about the Creator and the Bible.”

The theme of the conventions is “God’s Word is Truth,” based on Jesus’ words at John 17:17. Program highlights include the intriguing talk entitled “What is Truth?” which will examine why we can trust the Bible, states [Surinder Parhar], spokesperson for the conferences.

“The conference theme this year is significant because it underscores a core family value for Jehovah’s Witnesses. They embrace the Bible as the most trustworthy guide and source of advice in these stressful times. And we feel that the public will likewise benefit from and enjoy the varied and practical program,” he observed.

Two dramatic plays will also bring Bible stories and their practical lessons to life, which can help people better deal with life’s challenges today.

Everyone is welcome. To that end, some 500,000 invitations to attend the conference will be hand-delivered to homes throughout the Lower Mainland. This is a free public event with no admission charge, and no collection will be taken. Come for an hour, a day or for the entire conference.

Follow this link to watch a short video clip of a typical Bible education conference. http://www.jw.org/en/jehovahs-witnesses/conventions/

Conference Dates: July- 5-7; July 12-14; July 19-21; July 26-28; program times: 9:30 a.m. – 5:00 p.m.
Location: Prospera Centre, 45323 Hodgins Avenue, Chilliwack, BC; take Vedder Rd. exit north off Highway 1.
Additional Information: Surinder Parhar – 604-765-7441; email: surinderparhar@hotmail.com; or, visit Jehovah’s Witnesses’ official Web site—www.jw.org

Former MLA Hayer condemns attack on Surrey Hindu Temple

Former Surrey-Tynehead MLA Dave S. Hayer staunchly condemns what appears to be a violent act of racism following an attack on the Laxmi Narayan Hindu Temple on 140th St. in Surrey, on the eve of June 23, 2013.

“Racism and acts of violence have no place in our community or in our society,” said Hayer. “This act of malicious vandalism is unacceptable, and those who committed it should face the full penalty of the law.

“Surrey is one of the most ethnically diverse cities in the world, and everyone should accept and celebrate that fact,” continued Hayer. “We must not only support and respect all races and religions in our province and country, but live in peace and harmony with all.

“A temple, gurdwara, church or any sacred gathering place is there for people to worship and to celebrate the freedoms we hold so dear in this country. They are not places to fight presumed battles over racial intolerance … they are places where everyone should feel welcome and at peace.

“This terrible act of violence has no place in Canada and everyone should and I’m certain does, condemn it,” added Hayer.

“I am hopeful that the Surrey RCMP will track down and apprehend the despicable people who perpetrated this act of vandalism, and I trust that our courts will send a message to them through strong sentencing that this activity is not acceptable in Canada.” said the former MLA Hayer.

Hayer has spoken to Laxmi Narayan Temple leaders and expressed his deep disgust over these violent acts, and offered his sincerest condolences to all members of the temple.

Jinny Sims Strongly Condemns Acts of Vandalism on Hindu Temple in Surrey

Immigration Multiculturalism and Citizenship Critic Jinny Sims (Newton North-Delta) and the entire New Democratic caucus strongly condemned acts of vandalism that took place at the Laxmi Narayan Temple on Surrey’s 140th St.

According to police and news reports, the Hindu temple located in Surrey was vandalized by two men wielding baseball bats; windows of the temple were smashed, before the two unidentified men fled the scene.

Shortly after the incident took place, Sims immediately contacted members of the Temple to show her support and condemn the vandalism.

“My colleague Jasbir (Surrey North) and I unequivocally condemn such heinous acts of violence on a place of worship,” Said Sims. “Surrey is a shining example of Canada’s diversity, where faith based organizations and temples are institutions of peace that celebrate Canadian multiculturalism. Attacks on such institutions should not be taken lightly.” ”

Members of Surrey’s community have shown an outpour of solidarity since the temple was vandalized.

“The united condemnation from people of all faiths is an example of both the Canadian spirit and the resiliency of Surrey residents” added Sims. “I have full confidence that the Police and authorities will take the appropriate steps to ensure perpetrators are held accountable”.

Grewal Condemns Vandalism at Vedic Hindu Temple

Fleetwood-Port Kells MP Nina Grewal joined with other members of the community to condemn recent acts of vandalism against the Vedic Hindu Temple in Surrey. On the night of Saturday June 22nd two individuals used a baseball bat to smash the glass doors and windows at the entrance of the Vedic Hindu Cultural Society Laxmi Narayan Mandir.

“Attacks on places of worship whether those places are Jewish, Muslim, Christian, Sikhs, Hindu or something else are unacceptable in a society that values religious freedom and social tolerance,” declared MP Grewal. “What happened on Saturday night was disgusting and reprehensible. We must all join together to condemn this heinous crime and urge that anyone with information on the crime report it to the proper authorities.”

“The Government of Canada strongly condemns attacks on all faith groups. What happened at the Surrey Hindu Temple hurts the spirit of Canada and who we are as Canadians. We cannot allow it to go without public condemnation so that it is clear to everyone that the people of Surrey will not stand by and allow these crimes to go unpunished.”

MP Grewal also joined with those present to pay tribute to the victims of the Air India tragedy on the 26th anniversary of the worst act of terrorism in Canada’s history. “I denounce violent extremism at every opportunity and we must also denounce the extremist organizations who advocate violence or vandalism.”

“As they left the apparent safety and security of Canada, the passengers of Air India flight 182 had no reason to believe that cowardly plotters had unleashed a senseless, deadly fury. Our government’s most solemn duty is to keep its people safe and to ensure that everyone knows that any act of hatred, racism or intolerance will not be tolerated. Canada must be a safe haven to protect all of us from terror, hatred and any form of discrimination,” concluded MP Grewal.