Assets of 50 underworld kingpins to be seized

Assets of 50 underworld kingpins to be seized

Written by Staff Writer

13 Feb, 2019 | 9:50 pm

Colombo (News 1st): Police Media spokesperson SP Ruwan Gunasekara has confirmed that investigations are underway with the objective of seizing assets belonging to 50 underworld kingpins. The current high expectations on the fight against the drug menace have been fueled by the arrest of ‘Makandure Madush’ in Dubai.

Simultaneously, concern has also being raised as to the assets of others involved in serious financial crimes, especially involving public monies. The Central Bank Bond scam attracted grave concern amongst the public.  The Presidential Commission of Inquiry held that the then governor Arjuna Mahendran was responsible for passing price sensitive information and acting ‘mala fide’ in the interest of Perpetual Treasuries Ltd.

Recently it was revealed that the Prime Minister and the Attorney General’s Department had discussions as to the wording of the Registered Stocks and Share Ordinance (RSSO). According to Senior Retired Banker Rusiripala Tennakoon, the provisions of the RSSO does not require any legal action but punitive action and recovery can be made using the provisions of the existing law.

In Sri Lanka, there is a growing call that convicted criminals must not be permitted to keep or profit from the proceeds of their crimes. There are other serious financial scams that have been carried out at the expense of and detriment to public interest.

Such serious departures from due process has included for example, the building of highways including the controversial phase 3 of the Central Highway project, the virtual sale of the Hambantota port, the negotiations ongoing in connection with the Mattala Airport and perhaps most significantly the corruption at SriLankan Airlines, especially the cancellation of orders for new aircraft and the payment of penalties due to the cancellation.

SriLankan Airlines had as its CEO Suren Ratwatte, a sibling of Charitha Ratwatte, making him an ideal candidate for being a politically exposed person.

There are growing calls that all those associated with high-value national procurement matters should declare their interest at the outset and be required to provide their personal asset declarations to include the interest and declaration of family members.


 

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