ETI Directors questioned on irregularities

The four Directors of Edirisinghe Trust Investment (ETI) Jeewaka, Asanka, Nalaka, and Deepa Edirisinghe today appeared before the Presidential Commission of Inquiry (PCoI) investigating irregularities concerning ETI Finance.

In July, the Criminal Investigations Department (CID) questioned the four for approximately 8 hours.

The Colombo Fort Magistrate later imposed a travel ban on the four Directors of ETI Finance over the ongoing investigations.

The Central Bank of Sri Lanka also suspended the business activities of Swarnamahal Financial Services PLC and ETI Investments Ltd.

The PCoI has been mandated to investigate wrongdoing, irregularities, and malpractice concerning the company. 

The Commission informed President Gotabaya Rajapaksa in June that ETI Investments had not followed the proper procedures in their conduct from its inception.

It had invested its assets in other institutes and at the same time, it had not been supervised by the Central Bank, it pointed out. (Colombo Gazette)