Letter
View(s):What happened to F&G?
Some years back the Supreme Court appointed a Trust headed by a retired Auditor General with a retired valuer, chartered accountant and banker and a few others. They functioned for a few years and compiled Asset Registers valued at more than Rs. 6 billion.
There were close upon 2500 depositors with deposits amounting to almost the same figure or less. These trustees were getting more than Rs.100,000 for board meetings alone for a month for some years. They were replaced by a committee of the depositors through an association wit h a Court Order headed by one Brigadier. He too was trying to dupe the depositors and was chased out at a general meeting held at the Public Library Auditorium and one Mr. Caldera was appointed as the President of the depositors association. Nobody knew what happened thereafter until the Court appointed another team consisting of one Upali Rajapaksa, Caldera, Mr. Wijesekara, Ashley Wilathgamuwa and some others. They replenished the office with air-conditioning and partitioning and was functioning for few years with a staff and paid off 10 per cent of the depositors who had less than Rs.250,000. All these actions were taken without the consent of the depositors as they were not invited for any General Meeting whatsoever to my knowledge.
Now we hear that this group too has been removed and another set of people consisting of the above -mentioned Brigadier including a retired Judge has been appointed by the Court. We, the depositors are very worried as to what is happening to our hard earned money.
In this context it is the responsibility of the officials concerned (Finance Minister) to look into the affairs of the Finance and Guarantee (Development) Pvt Company and redress those poor frustrated depositors who have toiled for years and invested in this company to lead a happy retirement life without being a burden on others.
Frustrated Depositor