Tuesday, 3 September 2013 00:00
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By Lakmal Sooriyagoda
The Colombo Fort Magistrate yesterday issued notice returnable on 16 September on three Directors of Central Investments and Finance Plc (CIFL) for allegedly cheating and committing a criminal breach of trust with regards to depositors’ money.
Filing a further investigative report regarding the incident, the Slave Island Police submitted to Court that the Police has currently received over 70 complaints against CIFL. Police further alleged that the complainants had charged that their money deposited in the finance company had not been paid back with dividends as agreed.
According to the fact reports filed in Court, the company is alleged to have cheated over Rs. 5 million and it could exceed the amount upon receiving the new complaints.
The defence counsel who appeared on behalf of two Directors who are currently out on bail informed Court that Directors Laksman Rupasinghe and Gamini Karunatilleke were newly-appointed Directors of the company and thereby they were not aware over the past transaction.
Police told Court that three other Directors of the company – Don Joseph Douglas, Ajith Prabath and Premasiri Vithana – have been named as the suspects and moved Court that they be summoned before Court on 16 September.
Meanwhile, defence counsel informed Court that the company was in a position to pay back the deposited money after receiving Central Bank approval. Accordingly Magistrate Thilina Gamage issued notice on the Director of Non-Banking Financial Institutions of the Central Bank to appear before Court on the next hearing date to inquire whether the CB can grant approval for a repayment plan.
