AG advice on LECO case still pending

Thursday, 23 May 2013 00:15 - - {{hitsCtrl.values.hits}}

By Lakmal Sooriyagoda

The Criminal Investigations Department (CID) yesterday informed the Court that the extracts of the investigations regarding the case on alleged misappropriation, of Rs. 260 million at Lanka Electricity Company Ltd., (LECO) has been referred to the Attorney General and his advice over the matter is yet to be received.

When the LECO case came up before Magistrate Thilina Gamage, the CID informed the Court that the extracts of investigations regarding the case, had already been sent to the Attorney General. The CID had earlier informed the Court that future legal action against the persons who involved in the incident would be taken after receiving the AG’s advice.

In this case, the CID had told the Colombo Fort Magistrate, that Secretary to the Ministry of Power and Energy M.M.C. Ferdinando had lodged a written complaint with the CID, regarding an alleged misappropriation valued at Rs. 260 million on 24 November 2010. In the complaint he had alleged that several properties purchased by LECO had incurred losses to the tune of Rs. 260 million. According to the complaint, the LECO former chairman and its administrative officials were alleged to have defrauded monies belonging to LECO.

The prosecutors had told the court that they had already recorded statements from several witnesses in this regard. Furthermore, several employees of LECO had also complained to the commission, to investigate allegations of bribery or corruption about the alleged misappropriation of funds.

However, a businessman who was allegedly involving in LECO business transactions was produced in court and subsequently released on bail at a previous magisterial inquiry. The CID had charged that the businessman had allegedly misappropriated Rs. 191 million belonging to LECO and transacted business with LECO in purchasing houses and properties on behalf of them. LECO is a private limited liability Company registered under the Companies Act No.17 of Sri Lanka. Further, magisterial inquiry into the matter was postponed for 6 November.