EX-SWARNAMAHAL DIRECTORS ARRESTED

Colombo (News 1st); On the Attorney General’s directions the CID arrested three former directors of Swarnamahal Jewellers Ltd for running an unauthorized finance business, said State Counsel Nishara Jayaratne, the Coordinating Officer to the Attorney General. 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. 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.