Financial Times

Vasu wants Ceylinco Group probed

 

Public rights activist and politician Vasudeva Nanayakkara wants an independent probe on the affairs of the Ceylinco Group of companies, making the request in a letter to President Mahinda Rajapaksa.
In his letter, Mr Nanayakkara urged the President to direct top level investigations into the conduct of affairs of the Ceylinco Group in view of the ‘…shocking scandal of large public deposits taken by the Golden Key Credit Company of the Ceylinco Group’.

He asked why, when the Ceylinco Group has several companies given licenses by Central Bank to accept public deposits, public deposits were taken into Golden Key Credit Company which did not have a license.

“Has it also happened in another company in the Group, I understand by the name of F & G Investments? How much are the above deposits, and from when? I understand that this has gone on for several years. Whose monies are these? The Income Tax Department should immediately collect the information and tax all those, who have deposited black money,” Mr Nanayakkara said.

He said the Financial Intelligence Unit of the Central Bank should carry out thorough investigations to check whether some of the monies had been siphoned off to companies abroad, particularly in Jersey in Channel Islands, Geneva in Switzerland, Labuan in Malaysia, etc and that investigations should ‘be done meticulously, with no undue regard for personalities’.


 
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