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Chanuka Ratwatte, four others arrested

14 September 2016 12:38 pm - 9     - {{hitsCtrl.values.hits}}

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Chanuka Ratwatte and four others were arrested by the FCID this morning in connection with an alleged financial fraud of Rs. 4.6 billion at the Entrust Securities PLC.

The Central Bank took over Entrust Securities PLC this January and handed it over to the National Savings Bank as the management agent, to restructure the troubled primary dealer.

The Central Bank however did not directly admit uncovering of any fraudulent activities by the company/top management but said it was taken over to ensure the credibility of the government securities market.

Chanuka Ratwatte functioned as an Executive Director of Entrust Securities PLC.

 

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  Comments - 9

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  • Bala Wednesday, 14 September 2016 01:34 PM

    The amount involved is so colossal that the public cannot fathom the extent of corruption that has being prevalent in the last decade. I only hope we can recover at least 25 percent of the loot.

    Perumal Wednesday, 14 September 2016 01:39 PM

    With so many thieves in the politico-economic hierarchy under the former regime, it was sheer luck that the country managed to survive.

    Labby Wednesday, 14 September 2016 02:58 PM

    And every time someone is taken in for questioning they call it a 'witch hunt'. The amazing thing is some naive people believe this.

    Riz Wednesday, 14 September 2016 03:19 PM

    Ratwaththe will be on the bottom of the hell now.

    ala Wednesday, 14 September 2016 04:04 PM

    What a pathetic state of affairs!! The Central Bank has proven its incompetence in supervising financial institutions.

    Fraudster Wednesday, 14 September 2016 04:30 PM

    Sounds very much like UTI Ltd; where the main accused left SL to avoid 7 yr prison term for 6.7m fraud and still at large. No action!?

    BuffaloaCitizen Thursday, 15 September 2016 05:59 AM

    What happened to the investigation on the fathers fixed deposit certificates found inside his locker also amounting to billions?

    COL7 Thursday, 15 September 2016 10:47 AM

    Disgraceful.....

    openmind Friday, 16 September 2016 10:22 AM

    now somebody will say the drought


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