AG’s office awaits Golden Key lawyers to discuss depositors’ redress

By Bandula Sirimanna

The management of the Ceylinco Group of Companies on Monday submitted to court information listing the group’s assets, which amounts to Rs. 13 billion.

The court had demanded the information to decide which assets could be sold to reimburse the thousands of depositors who have lost money with the collapse of the Golden Key Credit Card Co, a part of the Ceylinco Group.

However, counsel appearing for Ceylinco Consolidated chairman Lalith Kotelawala failed to turn up for a meeting at the Attorney General’s Department to discuss the setting up of a trust to refund monies to Golden Key depositors.

This is the fourth time that lawyers for the Ceylinco Group have failed to appear at the Attorney General’s Department to discuss ways to redress the woes of Golden Key depositors.

Meanwhile, Deputy Solicitor General Sarath Jayamanne, chief prosecutor in the Golden Key fraud case, in which four persons have been remanded, told court that, according to a financial statement submitted by the Golden Key Credit Card Co, Rs 13 billion had been misappropriated, Rs 6 billion had been invested in other subsidiary companies of the Ceylinco Group, and that Rs 5 billion had not been accounted for. Total deposits amounted to Rs 26 billion, he said.

A senior CID official told The Sunday Times that the four persons in remand are being held under criminal liability charges. He said that although not directly involved in Golden Key operations, the Ceylinco chairman had a civic responsibility to refund the money to depositors. Full responsibility for operations was vested in Golden Key deputy chairman Kavan Perera.

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