The four former Directors of ETI Finance were granted bail by the Colombo Magistrate’s Court today (15).
Former Directors of Swarnamahal Jewellers Jeevaka, Asanka, and Deepa Edirisinghe were arrested on 5 January, while Nalaka Edirisinghe surrendered to the CID the following day.
On Monday (12), they were further remanded by the Colombo Magistrate’s Court until today.
They have been charged for misappropriation, cheating, criminal breach of trust, and other offences under the Finance Business Act.
The four Directors of Swarnamahal Jewellers have been accused of unauthorized acceptance of deposits of Rs. 13.7 billion, misappropriation of funds, and money laundering.
A Presidential Commission of Inquiry investigating irregularities concerning ETI Finance found that ETI Investments had not followed the proper procedures in their conduct from its inception. (Colombo Gazette)