ARREST EX-SWARNAMAHAL DIRECTORS; AG TELLS CID

ARREST EX-SWARNAMAHAL DIRECTORS; AG TELLS CID

ARREST EX-SWARNAMAHAL DIRECTORS; AG TELLS CID

Written by Zulfick Farzan

05 Jan, 2021 | 7:27 pm

Colombo (News 1st); Attorney General Dappula De Livera directed the Criminal Investigations Department (CID) to arrest and produce the directors of Swarnamahal Jewellers LTD on charges of operating an unauthorized finance business, said State Counsel Nishara Jayaratne, the Coordinating Officer to the Attorney General.

On Tuesday (05) evening, Attorney General Dappula De Livera instructed the Inspector General of Police (IGP) to conduct criminal investigations against Directors of ETI Finance and Swarnamahal Jewellers for unauthorized acceptance of deposits of Rs. 13.7 Bn, Misappropriation & money laundering.

Further, the Attorney General had decided to forward indictments against the Directors of Swarnamahal Jewellers for conducting unauthorized business.

State Counsel Nishara Jayaratne said the actions were taken as per the recommendations made by the Presidential Commission of Inquiry.

Jayaratne said ETI Finance had maintained undisclosed accounts with deposits of Rs. 6.480 Billion in an illegal manner while Swarnamal Jewellers had obtained cash deposits of Rs. 7.2 Billion without any approval from the Central Bank of Sri Lanka and without any registration with the Central Bank of Sri Lanka.

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