Sakvithi Ranasinghe evaporates with five billion rupees in Sri Lanka

[rukshankb]

ane apoy lankawata wechcha deyak

 

[monson]

There's a saying "Patriotism is the last refuge of a scoundrel". But in Sri Lanka "Religion is the last refuge of a scoundrel" is also correct.

 

[gpindika]

Ha Ha Ha..........

 

[hancok]

Ha Ha Ha..........

den merenna

 

[sw7x]

dewiyan idiriye diwurala tamai borukaranne anika horakam karanne natnam ayyi reg wenna bari

 

[monson]

Ha Ha Ha..........

Good one.

 

[monson]

18 Policemen lodge complaints against “Sakvithi Sir”

18 Policemen including a Superintendent who deposited millions of rupees in the bogus financial scam lodged complaints against its mastermind “Sakvithi Ranasinghe” today at the Mirihana Police Station. The highest single deposit was Rs.3million made by an Inspector.

http://www.dailymirror.lk/DM_BLOG/Sections/frmNewsDetailView.aspx?ARTID=27949

 

[lkdood]

http://www.dailymirror.lk/DM_BLOG/Sections/frmNewsDetailView.aspx?ARTID=27949

police ayetath widela

 

[Sudantha_s]

police ayetath widela

most police and army offices invasted here

 

[~v3n0m~]

suxwithi

 

[monson]

 

[rukshankb]

news news mewa gena goday, but no actions

 

[monson]

 

[monson]

Central Bank not responsible for 'Sakvithi' investments

LankaTruth 02nd Oct: 2008. 11.40 AM

Central bank will not be responsible for the monies invested in Sakvithi Ranasinghe's unregistered financial institution states Department of Supervision of Non – Bank Financial Institutes of the Central Bank.

This department of the Central bank points out that it had warned the public against investing in such institutions by way of advertisements and announcements over the media for several years.

Central Bank had received reports of certain institutions that had paid 100% interest on investments. Certain institutions have accepted deposits under investment and other agreements. As people like Sakvithi Ranasinghe have carried out their frauds under assumed names it had been difficult to bring them before the law state the Department of Supervision of Non – Bank Financial Institutes of the Central Bank.

 

[monson]

 

[monson]

Central Bank warns of future scams

2008-10-02 18:06:26

The Central Bank (CB), in the aftermath of the Sakvithi finance company scam in which depositors lost millions of rupees and revelations of other questionable unregistered finance companies which sent panicked depositors demanding their money, on Thursday said the scandals were revealed due to the Bank's due diligence and told the public to take heed of its warnings of such spurious institutions.

At a press conference today, CB Governor Ajith Nivard Cabraal said the public's greed for high interest rates led to the situation in which many people have lost money.

The Governor said this issue cropped up because the CB was active. On September 19 of this year, due diligence was done on six institutions, one of which was Sakvithi. Those institutions were visited by the CB which collected information and compiled into a report by the Director of Non- Bank Supervision. A few days later, the Monetary Board declared them to be illegal and informed the institutions they had one month to rectify their shortcomings and register themselves with the CB, in accordance with the laws.

"If we had not gone, nothing would have happened," the Governor said. He added that the CB spends Rs.1 million every month on advertising to the public so it is questionable as to how some have said they have never seen the warnings. According to the Governor, banks and finance companies have placed advertisements in the media totalling to over Rs.4.4 billion over the past two years. The Governor warned that higher returns also bring about higher risks and that in the future, the CB will continue to name institutions after performing due diligence. He said the President and the Ministry of Finance are being continually updated on its findings.

 

[monson]

Fraudster on the run, investors on the road

Investors who deposited their money in the finance company run by Sakwithi Ranasinghe held a protest march at Viharamahadevi Park calling for stern action against him today. Pics by Pradeep Dilrukshana

http://www.dailymirror.lk/DM_BLOG/Sections/frmNewsDetailView.aspx?ARTID=28052

 

[monson]

 

[monson]

 

[monson]

Central Bank involved in 'Sakvithi' racket?

LankaTruth 04nd Oct: 2008. 08.40 AM



Investigators looking into the 'Sakvithi' racket have found evidence that certain Central Bank officials were also involved in the racket and have received 'benefits' from Sakvithi Ranasingha. They are to question these officials why no action had been taken against the conman though a team of CID officials had informed the Central Bank about the conduct of Ranasingha in 2006.

The CID had submitted a secret report to Central Bank and had asked the Central Bank to take action against the fraudster. However, no action had been taken and if the recommendations of the CID had been carried out Sakvithi would not have been able to dupe so many people point out the sleuths investigating the scam.

According to the investigators politicians, brigadiers, a DIG, 10 SSPs and many other public officers have invested their black money in Sakvithi Construction Ltd. Documents seized from Sakvithi Construction Ltd. reveal that a DIG had invested Rs.7 million and 10 SSPs have deposited amounts from in Rs.3.5 million to Rs.6 million. Politicians have also invested money in the names of relatives.