COLOMBO – The Attorney General has ordered a criminal probe over Rs 13 billion illegal deposits allegedly taken by ETI Finance, and Swarnamahal Jewellers. The order follows the finding of a Presidential Commission of Inquiry, a spokesperson said.
ETI Finance, a licensed finance company, is alleged to have operated undisclosed accounts amounts to Rs 6.48 billion without informing the central bank.
The AG on Tuesday (5) ordered police to conduct a criminal probe on the company for violating Finance Business laws and the anti-money laundering laws, a spokesperson for the AGs department said.
Swarnamahal Jewellers, was also alleged to have taken Rs 7.2 billion from the public without having a licence from the central bank to run a finance company.
The AG had also ordered a probe on an account where money had been paid to several persons.
The Criminal Investigations Department (CID) had been ordered to investigate violations of Sri Lanka’s finance and anti-money laundering laws, and the AG is to file indictments at High Courts, the spokesperson said.
Several members of the founding Edirisinghe who were former ETI Finance had also been directors of Swarnamahal Jewellers.
The family had placed assets including property and a television station to boost the capital of ETI Finance, which had since been sold to repay legal depositors.