ETI Finance case: Two confidential documents produced in court

At the hearing of the ETI court case yesterday (09) two confidential documents provided by the intelligence services regarding financial frauds were presented before the court.

The case was taken up when former Directors of the ETI Finance, Jeewaka Edirisinghe, Nalaka Edirisinghe, Asanka Edirisinghe and Deepa Edirisinghe were arrested by the Criminal Investigation Department for the second time on 08 January afternoon.

They were arrested allegedly in connection with an Rs. 6.4 billion financial fraud.

Investigations have also revealed that the deposits in the Central Bank of Sri Lanka have been misused for personal enjoyment by the former Board of Directors while maintaining undisclosed accounts.

Accordingly, the Attorney General has concluded that the former members of the Board of Directors of ETI have committed offenses punishable under Sections 386, 389 and 403 of the Penal Code on charges of money laundering, criminal breach of trust and criminal misappropriation.

When the case was being taken up before the Colombo Magistrate's Court yesterday (09), a group of depositors of te ETI Finance engaged in a silent protest yesterday. Later, four of the depositors were allowed to sit in on the court proceedings.

Speaking before the court, Senior Deputy Solicitor General Haripriya Jayasundara said that the granting of bail could be an obstacle to the relevant investigations as the investigation is still ongoing.

Accordingly, Colombo Additional Magistrate Bandara Nelumdeniya remanded the four suspects until 12 January..

The four were arrested by the CID on 05 January in connection with an alleged financial irregularity at Swarnamahal Jewellers and were released on bail after being produced in court.