CID arrests three former Swarnamahal Directors
Posted on January 5th, 2021
Courtesy Adaderana
Three former Directors of Swarnamahal Jewellers Ltd. have been arrested for running an unauthorized finance business, says the Attorney General’s Coordinating Officer State Counsel Nishara Jayaratne.
Attorney General Dappula de Livera, earlier this evening (05), had directed the Inspector General of Police (IGP) to conduct a criminal investigation against the Directors of the ETI Finance and Swarnamahal Jewellers Ltd.
Further directives later came to arrest former Swarnamahal Directors Jeewaka Edirisinghe, Anjalee Edirisinghe and Asanka Edirisinghe and produce them before courts.
State Counsel Jayaratne said that the investigations are being carried out over the unauthorized acceptance of deposits worth Rs 13.7 billion, misappropriation, and money laundering.
The Attorney General has also decided to forward indictments against the Directors of Swarnamahal Jewellers for conducting an unauthorized finance business.
January 7th, 2021 at 8:02 am
Truly shocked by this news. Our people bought their jewellery from this company, going back decades. This the result of our leaders not setting an good example, where they carelessly spent our tax money showing no accountability to the tax payers. Also comes very convenient for some run down the competing people in the jewellery trade, if true if they have misappropriate the investors deposits or investments, the price they pay for the careless nature of our emerging culture. These people are no better or worse than those who are wasting our money. This is the culture we are creating in the island. I remember that it was a genuine company where one could buy the traditional jewellery for the families.