Court extends remand of Chanuka Ratwatte and four others

Thursday, 29 September 2016 00:00 - - {{hitsCtrl.values.hits}}

The Colombo Fort Magistrate court yesterday extended the remand of Chanuka Ratwatte, brother United People’s Freedom Alliance Parliamentarian Lohan Ratwatte, and four others until 30 September.

Colombo Fort Magistrate Lanka Jayaratne remanded Chanuka Ratwatte, the son of former Defence Minister, the late Anuruddha Ratwatte, and three others who were arrested for misusing state resources, until 30 September.

Ratwatte, Managing Director of Entrust Securities was arrested and charged with misappropriating Rs. 4.2 billion of government funds.

The prosecution alleged that the suspects, all of the financial firm Entrust Securities PLC, had misused the funds belonging to four Departments of the Central Bank and the Employees Provident Fund at the CEB, while investing those funds in Government Securities through their company.

The suspects were charged under the section 5(3) and 8(3) of the Public Property Act and section 386 of the Penal Code over criminal breach of trust and misappropriation.

Chairman, of the Entrust Securities Dharmapriya Bandara Dassanayake, Managing Director Chanuka Ratwatte, Executive Director Romesha Dushanthi Senarath, Director Sanjeewa Dayaratne, and Director Niloshan Romelo Mendis are the other suspects.

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