ABC News said according to records the hedge fund billionaire facing charges of taking part in a $20 million insider trading scheme made donations to Clinton's Senate campaign and to her unsuccessful 2008 presidential campaign.
When combined with donations to other Democratic campaigns, Rajaratnam and his wife donated a total of total of $118,000.
Documents filed with the Internal Revenue Service show he also donated more than $3.5 million to the Tamil Rehabilitation Organization. The Tamil organization has alleged ties to the Sri Lankan separatist group, Liberation Tigers of Tamil Eelam.
The 2005 and 2006 contributions to the organization by Rajaratnam, who was born in Sri Lanka, were made via a separate charity the financier founded, ABC News reported.
Adam Szubin, director of the Treasury's Office of Foreign Assets Control at the time of Rajaratnam's donations, told ABC News the organization allegedly served as a front for terrorism.
"TRO passed off its operation as charitable, when in fact it was raising money for designated terrorist group responsible for heinous acts of terrorism," Szubin said.