12 bank accounts of F&G suspended

Financial Times

Twelve bank accounts maintained by F&G Property Developers Co Ltd at Seylan, Union,Hatton National, DFCC and Pan Asia banks were suspended by Colombo Fort Magistrate Nishantha Hapuarachchi when the F&G fraud case was taken up for hearing last week.

The Magistrate also directed the Central Bank to investigate and submit a three year audit report from 2006 of the company. Three Directors of the company Mervyn Jayasinghe, K.A.S. Jayatissa and Mohan Perera have been remanded till August 10 by Colombo Frt Magistrate in connection with alleged cheating of Rs.4.2 billion belonging to F&G depositors.

E-mail

views[1]

	Other Financial Times Articles
>	US report highlights corrupt Lankan deals
>	Central Bank requested to rectify Banking Act anomaly: CSE
>	Seylan withdraws disputed letter
>	Smiling Lanka 22nd happiest place to be
>	Hayleys to present strategy report next week
>	Insurance Board seeks new DG
>	Golden key is a ‘bribe’
>	COMMENT - Corruption 2: Under world scrutiny
>	Corrupt privatization doesn’t deter IMF lending to Sri Lanka
>	Water's Edge revival case dismissed
>	IMF loan will boost reserves
>	Hikka Fest draws the crowds with scintillating drum festival and other top performers
>	Ceylinco Takaful registration suspended for 3 weeks
>	EFC workshop on the survey on manpower issues
>	FCCISL, Oxfam partnership for humanitarian emergencies
>	Lankan foreign reserves rise sharply in four months
>	Sri Lanka’s Heladiv opens stores in China
>	Computer training for visually handicapped
>	End of war positive for economic growth
>	‘Horlicks Smart Pass’ seminars for Grade 5 scholarship students
>	Hertz for hire in Lanka
>	12 bank accounts of F&G suspended
>	Fitch affirms Standard Chartered Bank despite adverse publicity issues
>	Airtel in partnership network to spread its services
>	DFCC profits gain in first quarter
>	Lankan inflation remains low in July
>	Nawaz and Manilal join CCI as Vice Presidents
>	Haycarb maintains growth in 1Q 2009-10
>	ICASL ‘Leads a New Beginning’ at 30th National Conference
>	Cornucopia Lanka offers assessment solutions
>	AIU Holdings advances towards operating independence
>	PBJ case to be mentioned
>	Room to Read challenge to local businesses
>	Good performance in three sectors sees Hayleys profits rise by 16%
>	Biz delegation from Yunnan Province, China keen on investment
>	SLT, Mobitel unveil flagship store in Kandy
>	Tokyo Cement’s new concrete mix for homemakers
>	Sri Lanka Tourism officials return after study tour
>	Heritance Kandalama partners AFLAC to uplift school library in Dambulla
>	Ogilvy Action gearing to enter North and East
>	UAL reports steady progress in 2Q
>	KVPL wipes off first quarter losses in 2Q ’09
>	$25 mln investment from the US under discussion
>	Heritance Kandalama partners AFLAC to uplift school library in Dambulla
>	IMF agreement will not stop spending increases for North and East – Central Bank
>	CB urged to expedite the GK repayment plan
>	Rice processing centres for Batticaloa
>	Spence 1Q2009 records a 22.3% drop in profits
	Sampath Bank Post Tax Profit up by 29.8% in 1H 2009
>	Moneragala to be developed as Sri Lanka’s rubber industry hub

Reproduction of articles permitted when used without any alterations to contents and a link to the source page.