Ranil wants to create UK-type ‘Serious Frauds’ division
Posted on June 5th, 2015

Courtesy  Adaderana

Prime Minister Ranil Wickremesinghe today said that the government is currently in the process of cleaning up” the Colombo Stock Exchange (CSE) and that they intend to establish a ‘Serious Frauds and Financial Crimes Division’ for this purpose.

That’s why we have to start a Serious Frauds and Financial Crimes Division with the intention of following the Serious Fraud Office of the UK and legislating for it subsequently.”

The SFO is an independent Government department that investigates and prosecutes serious or complex fraud, and corruption in the United Kingdom.

Wickremesinghe stated that an Organised Crimes Division will be established next.

You cannot have organized crime. You can’t have commercial crime. You can’t have these frauds,” he said, after declaring open an International Arbitration Centre in Colombo.

He stated that the government is also looking at bringing in laws dealing with drug trafficking in Sri Lanka. Those things cannot be allowed.”

Wickremesinghe further said: under President Maithripala Sirisena we’ve got out of the job of controlling the Supreme Court. As a result now I find there are more decisions against us than for us.”


14 Responses to “Ranil wants to create UK-type ‘Serious Frauds’ division”

  1. NeelaMahaYoda Says:

    What Ranil does not know is that the Serious Fraud Office in UK is an independent government department, operating under the superintendence of the Attorney General. Its purpose is to protect society by investigating and, if appropriate, prosecuting those who commit serious or complex fraud, bribery and corruption and pursuing them and others for the proceeds of their crime. Its Director is David Green CB QC.

    But can we find an independent and apolitical QC in Sri Lanka?

    Anyway According to UK legislation, Ranil could be charged for Fraud by abuse of position by helping and protecting those who are involved in insider dealing in the government bond controversy,
    One of the major shareholders of this company is Arjun Aloysius, the son-in-law of the recently appointed Central Bank Governor Arjuna Mahendran. This family connection has cast a shadow over the Governor himself on the basis of conflict of interests.

    Definition of Fraud in UK
    (1)A person is guilty of fraud if he is in breach of any of the sections listed in subsection (2) (which provide for different ways of committing the offence).
    (2)The sections are—
    (a)section 2 (fraud by false representation),
    (b)section 3 (fraud by failing to disclose information), and
    (c)section 4 (fraud by abuse of position).
    (3)A person who is guilty of fraud is liable—
    (a)on summary conviction, to imprisonment for a term not exceeding 12 months or to a fine not exceeding the statutory maximum (or to both);
    (b)on conviction on indictment, to imprisonment for a term not exceeding 10 years or to a fine (or to both).
    (4)Subsection (3)(a) applies in relation to Northern Ireland as if the reference to 12 months were a reference to 6 months.

    Fraud by abuse of position
    (1)A person is in breach of this section if he—
    (a)occupies a position in which he is expected to safeguard, or not to act against, the financial interests of another person,
    (b)dishonestly abuses that position, and
    (c)intends, by means of the abuse of that position—
    (i)to make a gain for himself or another, or
    (ii)to cause loss to another or to expose another to a risk of loss.
    (2)A person may be regarded as having abused his position even though his conduct consisted of an omission rather than an act.

  2. Nimal Says:

    UK type SFO will surely prosecute even Ranil or anybody else with out exception if caught doing wrong.

  3. Cerberus Says:

    Ranil Wickremasingha who is responsible for extending the agony of our people by at least 20 -30 years by stopping the taking out of Prabahakaran in 2001 should be investigated by a Parliamentary committee even at this late stage. See link below.


    There are so many other things such as the Batalanda murders, Gonawela Sunil involvement which were never properly investigated should be brought to light and RW should be brought to justice for all that he has done. Maybe the serious frauds division can start by investing this man before anyone else.

  4. Sarath W Says:

    It is a very good idea. After the elections Ranil, Mahendren and Ravi will be the first lot of crooks who willm be brought under this serious frauds division especially for frauds by abuse of position.

  5. Susantha Wijesinghe Says:


  6. Christie Says:

    Namaste: UK is the biggest FRAUD on earth. How on earth they have become a sort of a major world financial center. Indians overseas (Bharathiya Prawasi Divaas) bring billions and billions of Pounds from their colonies to London. That is the biggest financial fraud committed on blacks in African continent and in Asia. Jai Hind

  7. ranjit Says:

    This Tie Coat guy who became the Prime Minister from the back door illegally is trying to import everything from the western world instead of having our own. He works as per Obama and Cameron.They are his pay masters and he do everything as per their advise. He should be investigated first for his crimes against our own people. He wants to show that he is a saint but we know who this traitor is. These two (Sira/Ranil) came to power thru a coup orchestrated by the west and the Indian parasites. They used Media and green bucks to topple the most popular leader of all time.

    When Ranil gave half of the country to the most wanted terrorist leader Velupillai Prabakaran in writing MR the most popular leader in history beat the hell out of Velupillai Prabakaran and his gang and brought us real freedom after thirty years of destruction and blood bath. This reason is enough for our citizens to vote for this great hero instead they gave the power to a Grama Sevaka who back stab the leader and the party to become the western backed puppet President. From day one what he did was illegal and still being the President of the S.L.F.P.party he works against it by appointing all UNPer’s to his cabinet and his henchman to all important positions including his brothers and sisters. Our Sinhalese must understand this guys evil motives before it’s too late and kick his ass out from the party. They should rally round MR and start organizing to win the election and send UNP in to hell.

  8. Independent Says:

    SL Insurance unions, staff demand action

    Shirajiv Sirimane [email protected]

    The former management of Sri Lanka Insurance has not accounted for over Rs. 900 million, the Trade Unions alleged yesterday.

    They say that this huge financial irregularity has been highlighted and forwarded to President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe for remedial action.

    Committee Member of Sri Lanka Insurance Reinstating Organization, R. S. Nandalal speaking to Daily News business said that under the previous management Rs. 200 million was paid to a company in UAE to obtain reinsurance, but this company SZC at PO Box 10559 in Rakstzak, UAE, does not exist in that address.

    This proves that the previous management has taken a grave risk and has pocketed the Rs. 200 million and had indicated that they have paid money for Reinsurance. The amount that was reinsured was Rs.73 billion for Ceylon Petroleum Corporation to insure ten of their locations.

    He said that in addition, when the Supreme Court ordered to cancel the privatization of the Insurance Company, six years ago, it was agreed that Rs. 672 million should be paid to the businessman who owns a conglomerate) who purchased the SLI. The court ordered that this should to be settled in a period of five years by way of treasury bills.

    However, the then Treasury Secretary Dr PB Jayasundera along with the then Chairman Gamini Senerath has surprisingly taken a decision to pay this back from the Insurance company money.

    “This is absurd and is a violation of the Supreme Court ruling,” the unions allege. What we are asking from the government is to recover these amounts from corrupt officials who ruled the institution in the last three years.

    Meanwhile he also said that over 1,800 employees were retired or sacked on various issues during the last three years. Some of these employees are yet to receive their compensation and we are urging the present management to speed up these payments, Nandalal said.

    A former official of the Insurance Corporation when contented said that these allegations are fabricated.

    “I say that 99.9% of the SLI is owned by Finance Ministry. Hence the Treasury Secretary can take decisions and the payment of Rs. 675 million can be justified,” he said.

  9. Fran Diaz Says:

    Superpower politics is killing Lanka.
    First JVP > LTTE > now Ranil & his Fascism.
    Lanka loses her balance easily taking away a sense of wellbeing for all her People. Shame !

    Imitate Germany, Denmark for socio-ecnomic balance and Britain for Security.

  10. RohanJay Says:

    I don’t have much faith in in deeply corrupt UK institutions. They allowed Tony Blair to walk free. When he should be facing a Nuremberg type tribunal. UK institutions are responsible for the mess in Sri lanka and Sri Lankans want to create a UK style frauds division in Sri Lanka? LOL! this is loony tunes and just show many Sri Lankans deep down will never get over their submissive UK mentality. Any wrong that happens in Sri Lanka they will blame it on the Americans. Hello Sri lanka. Sri Lanka was a colony of the UK NOT the United States of America Get that through your thick heads if you want to move forward Sri Lanka.

  11. RohanJay Says:

    Important to the attention of all readers on lankaweb and in Sri Lanka. If you want to know the who the crooks are who put the Sirisena govt in and ousted MR govt on Jan 8th 2015. Then this journalist will be covering secret summit meeting in Austria which will be going on the whole of next week. They will be discussing policy and their hidden agenda for various countries including Sri Lanka
    Go to
    American independent media news website which will be covering the Bilderberg criminal meeting in Austria. People should pressure for the attendees to demand to know exactly what they are discussing behind closed doors in Austria for Bilderberg 2015!


  12. RohanJay Says:

    Here is a link regarding the Bilderberg meeting in Austria.
    This is serious, people should take this meeting seriously and find what is going on with this meeting.

  13. Ancient Sinhalaya Says:

    Traitor chief rw thinks he will still be the pm after the elections. But if the traitor loses, then
    he will be in the dock for his tiger buddy stealing billions from Central Bank and saving
    barrelman mala paharan’s head. This would have saved thousands of lives from both sides.
    Now he is making a lot of noise about this commission to show people he is whiter than white
    and win election! Then the traitor is safe. This is a election gimmic! Now the traitor in chief knows he is in big
    trouble because he hurt MR who hasn’t done any corruption except winning the war and developing Sri Lanka
    in double quick time. Only way he can save his skin is by winning the election. But there a still a lot of traitor Sinhalese
    donkeys out there.

    But the traitor doesn’t have any Sinhalese blood in his veins. Sinhalese donkeys supporting this catholic
    thug are the worst traitors. Those Sinhalese donkeys think it is fashionable to be Unpatriotic Party (UNP)
    supporters. They don’t care about these traitors doing to our country.

    Who put foundations to divide the country. That was alugosu thambi mudiyanselage jr. Sleeping with
    indians he started this. Why these traitors are alugosuwas? They couldn’t kill any terrorists, but they were brutal in killing JVP supporters. But now the JVP jokers are in bed with them! Shame on them.

    Who signed pacts with barellman hitler mala paharan? It was alugosu L K premadasa
    then algosu gb rw. But these Sinhalese donkeys don’t care. Do you have any Sinhalese blood in your veins?
    Shame on you donkeys!

  14. Lorenzo Says:

    IS in SL has threatened Israelis in SL. This is totally UNACCEPTABLE. SL is NOT an ISLAMIC REPUBLIC.

    SL should seek ISRAELI MOSSSAD help to ERADICATE these IS criminals.

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