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No fraud charges against Amarapala: FCID informs ministry

23 July 2016 07:05 am - 5     - {{hitsCtrl.values.hits}}

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The Financial Crimes Investigation Division (FCID) has informed the Megapolis and Western Development Ministry that the Ministry’s former consultant Vidya Amarapala had no involvement in any financial fraud though his name was mentioned in the controversial Panama papers.

Issuing a statement, the Ministry yesterday said the FCID had launched a probe into the allegations levelled against Mr. Amarapala, on a request made by the private secretary to Minister Patali Champika Ranawaka.

“The Minister was very attentive when Mr. Amarapala’s name was mentioned in the Panama Papers. Mr. Amarapala resigned from his ministerial portfolios in April to pave the way for investigations. The FCID, which carried out a probe on a request by the secretary, informed the ministry that there was no evidence to prove Mr. Amarapala's involvement in any financial fraud,” the ministry said.

It said the ministry too launched an investigation which was headed by one of the former ministry secretaries and it had also said that the charges against Mr. Amarapala were baseless.

The Ministry probe had said, quoting the International Consortium of Investigative Journalists (ICIJ) which released the Panama papers, that only because a name was mentioned in Panama papers it doesn’t necessarily mean that they have committed financial frauds.

The Ministry clarified that the name list of Sri Lankans in Panama papers was a list of names of Sri Lankans who had been operating companies and maintaining accounts in Singapore. Mr. Amarapala had served as an executive officer of the IWS Holdings owned by Arthur Senanayake and as a Director of the Singapore based Sovereign Capital Corporation belonging to the IWS holdings.

“The accounts belonged to the period when he was working in IWS holdings and Sovereign Capital Corporation. There is no report to suggest the Company had been involved in any financial fraud during that time. The Company had made investments through the Board of Investment of Sri Lanka,” the ministry said.(Lahiru Pothmulla)

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  • Ramsay Saturday, 23 July 2016 10:25 AM

    YAHAPALANA henchmen always have clean record and get the quick clearance from so called law enforcement agency

    haras Saturday, 23 July 2016 10:37 AM

    World is beautiful for any politician or henchman be at right side at right time. This is the example for basic gavapalanaya...... via DM Android App

    Chandra Saturday, 23 July 2016 10:47 AM

    Do not see difference in YAHAPALANAYA and previous regime.

    Bala Saturday, 23 July 2016 03:00 PM

    Why only him investigated - what about others in list. Some cover up.

    Hesh Saturday, 23 July 2016 03:40 PM

    Most in the list are businessmen. They are connected to politicians. Hence panama list will not be investigated.


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