Former Directors of ETI Finance released on bail

Former Directors of ETI Finance released on bail

January 15, 2021   02:51 pm

-

The four former Directors of Edirisinghe Trust Investments (ETI) Finance Limited have been released on bail by the Colombo Chief Magistrate’s Court.

Former directors of ETI Finance – Nalaka Edirisinghe, Jeewaka Edirisinghe, Anjalee Edirisinghe and Asanka Edirisinghe were released on bail after being produced before the court today.

They were each ordered released on a cash bail of Rs. 1 million and two personal bails of Rs. 5 million each. 

Imposing bail conditions, the court prohibited the defendants from leaving the country and also ordered them to appear before the CID on the last Sunday of every month. 

The former ETI Finance directors were arrested on January 08, based on a directive from the Attorney General, on charges of criminal misappropriation, cheating, money laundering, and other offenses.

On January 05, the Attorney General had directed the Inspector General of Police (IGP) to conduct a criminal investigation against the Directors of the ETI Finance and Swarnamahal Jewellers Ltd. over their involvement in operating an unauthorized finance business.

Investigations are being carried out over the unauthorized acceptance of deposits worth Rs 13.7 billion, misappropriation, and money laundering.

Disclaimer: All the comments will be moderated by the AD editorial. Abstain from posting comments that are obscene, defamatory or slanderous. Please avoid outside hyperlinks inside the comment and avoid typing all capitalized comments. Help us delete comments that do not follow these guidelines by flagging them(mouse over a comment and click the flag icon on the right side). Do use these forums to voice your opinions and create healthy discourse.



NOTE:- Due to legal contstraints, the Ada Derana Editorial team has taken a decision to disable comments on all articles concerning ongoing court procedures.

Most Viewed Video Stories