News

Swarnamahal directors on bail re-arrested on different charges

Published

5 years ago

2021/01/9

Sahan Weerasooriya

AG refers to loss of Rs 6.4 bn as a result of criminal misappropriation, cheating and money laundering

By Shamindra Ferdinando

The police yesterday (8) re-arrested Directors of now defunct ETF Finance Ltd soon after Attorney General Dappula de Livera, PC, ordered the CID to take them into custody on charges of criminal misappropriation, cheating, money laundering and other offences.

The AG’s Department Spokesperson State Counsel Nishara Jayaratne said that the total amount referred to in the above mentioned cases was approximately Rs 6.48 bn.

Police spokesman DIG Ajith Rohana confirmed the arrests.

The AG issued instructions close on the heels of the four directors namely Nalaka Premal Edirisinghe, Jeewaka Edirisinghe, Anjali Deepa Edirisinghe and Asanka Edirisinghe being granted bail by the Fort Magistrate on Wednesday (6).

Responding to a query, State Counsel Jayaratne told The Island that the CID earlier produced the suspects before the Fort Magistrate in connection with the Swarnamahal Jewellers case. Both State Counsel Jayaratne and DIG Rohana said that they were re-arrested in connection with the ETI Finance case.

Nalaka Premal Edirisinghe is the Director and Managing Director of ETI Finance. Nalaka Premal Edirisinghe surrendered to the CID on Wednesday whereas the others were taken into custody on the previous day. In connection with the offenses relating to Swarnamahal Jewellers, the police spokesman on Wednesday estimated embezzlement at Rs 7.2 bn.

Nalaka Premal Edirisinghe is also the Executive Director of Swarnamahal Financial Services, PLC, a member of Sri Lanka Gem Traders Association and a director of 14 companies.

DIG Rohana said that on the basis of investigations conducted by the CID on the instructions of the Attorney General Dappula de Livera, PC, the suspects were allegedly responsible for cheating, criminal breach of trust and criminal misappropriation.

Depositors who lost money as a result of the embezzlement called a media briefing in Colombo where they demanded the government take tangible measures to compensate them. They vowed to step up protests until justice was done. They alleged those responsible for ensuring transparency and stability allowed some finance companies to manipulate the process at the expense of the hapless public.

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Civil Security Department Members Contribute a Day’s Salary to ‘Rebuilding Sri Lanka’ Fund

Published

2 hours ago

2026/01/25

Priyan

Members of the Civil Security Department have donated a day’s salary to the Rebuilding Sri Lanka Fund, which was established to restore livelihoods and rebuild the country following the devastation caused by cyclone Ditwah.

Accordingly, a cheque amounting to Rs. 40,870,686 was handed over on Thursday (22) at the Presidential Secretariat by the District Officer of the Civil Security Department G.Y.B. Perera to Secretary to the President, Dr. Nandika Sanath Kumanayake.

Secretary to the Ministry of Public Security Ravi Seneviratne and Director General of the Civil Security Department, Major General Palitha Fernando (Retired), were also present on the occasion.

News

Colombo Stock Exchange (GL 12) donates LKR 25 million to the “Rebuilding Sri Lanka” Fund

Published

15 hours ago

2026/01/24

Priyan

The Colombo Stock Exchange (GL 12) has contributed LKR 25 million to the Rebuilding Sri Lanka Fund.

The cheque was handed over to the Secretary to the President Dr. Nandika Sanath Kumanayake by the Chairman of the Colombo Stock Exchange, Dimuthu Abeyesekera, the Chief Executive Officer Rajeeva Bandaranaike and Senior Vice Chairman Kusal Nissanka at the Presidential Secretariat.

News

Karu argues against scrapping MPs’ pension as many less fortunate members entered Parliament after ’56

Published

23 hours ago

2026/01/24

Thilina Walpola

Karu Jayasuriya

Former Speaker of Parliament Karu Jayasuriya has written to President Anura Kumara Dissanayake expressing concerns over the proposed abolition of MPs’ pensions.The letter was sent in his capacity as Patron of the Former Parliamentarians’ Caucus.

In his letter, Jayasuriya noted that at the time of Sri Lanka’s independence, political participation was largely limited to an educated, affluent land-owning elite. However, he said a significant social transformation took place after 1956, enabling ordinary citizens to enter politics.

He warned that under current conditions, removing parliamentary pensions would effectively confine politics to the wealthy, business interests, individuals engaged in illicit income-generating activities, and well-funded political parties. Such a move, he said, would discourage honest social workers and individuals of modest means from entering public life.

Jayasuriya also pointed out that while a small number of former MPs, including himself, use their pensions for social and charitable purposes, the majority rely on the pension as a primary source of income.

He urged the President to give due consideration to the matter and take appropriate action, particularly as the government prepares to draft a new constitution.The Bill seeking to abolish pensions for Members of Parliament was presented to Parliament on 07 January by Minister of Justice and National Integration Dr. Harshana Nanayakkara.