On charges of criminal misappropriation, cheating, money laundering and other offences

The Criminal Investigations Department (CID) on the directive of Attorney General Dappula de Livera arrested four Directors of Edirisinghe Trust Investments (ETI) Finance on charges of Criminal Misappropriation, cheating, money laundering and other offences at ETI Finance yesterday.

They are Jeewaka Edirisinghe, Anjali Edirisinghe, Asanka Edirisinghe and Nalaka Edirisinghe, who served as Directors of ETI Finance and Swarnamahal Jewellers.

Coordinating Officer to the Attorney General State Counsel Nishara Jayaratne told news media that according to the final report of Presidential Commission Of Inquiry, there was evidence that the directors of ETI Finance had used the deposits in undisclosed accounts for personal gain and had persuaded the public to accept deposits, indicating that the ETI Finance was a well-run financial institution at a time of severe liquidity crisis. Evidence before the Commission has revealed that the ETI Finance Company had illegally obtained Rs.6,480 billion in deposits by maintaining undisclosed accounts with the Central Bank of Sri Lanka (CBSL) and that Swarnamahal Jewellers had illegally obtained Rs.7.2 billion in deposits from the public without being registered with the CBSL and without a valid license, she added.

Accordingly, the Attorney General has decided to file indictments in the High Court against Jeewaka Hemal Edirisinghe, Anjali Deepa Edirisinghe, Nalaka Primalal Edirisinghe and Asanka Srimal Edirisinghe, who served as directors of ETI Finance and Swarnamahal Jewellers as they had committed a criminal offense under sections 386, 389, 403 of Penal Code and section 3(1) of Prevention of Money Laundering Act No.05 of 2006.

On January 5, the Attorney General had directed the Inspector General of Police (IGP) to conduct Criminal Investigations against the Directors of Edirisinghe Trust Investments (ETI) Finance and Swarnamahal Jewellers with regard to alleged unauthorised acceptance of deposits of Rs.13.7 billion and alleged misappropriation and money laundering. The Attorney General also directed to the CID to arrest them in this regard.

Accordingly, Jeewaka Edirisinghe, Anjali Edirisinghe and Asanka Edirisinghe were arrested on the same day by the CID and Nalaka Edirisinghe had surrendered to the CID on January 6.

Following the arrest, they were produced before the Fort Magistrate’s Court on January 6 and they were released on two sureties of Rs.1 million each.