The one time popular English Teacher Sakvithi Ranasinghe who posed off as an owner of an investment company and swindled thousands of persons for millions of rupees was today handed over a 22 year old rigorous imprisonment term suspended for a five year period by the Colombo High Courts.
Ranasinghe charged for running an illegal Finance Company and offering very high interest rates pleaded guilty leading to the sentence by Colombo High Court judge Amal Ranaraja
He was fined Rs 275,000 as well.
His wife who also charged was sentenced to two years RI suspended for five years and fined Rs 25,000.
Ranasinghe who was educated in a Colombo school started off as an English language tuition master in Ratmalana and around 2003 launched a company known as S.R. Property Sharing Investment (Pvt) Ltd offering very high interest rate.
He claimed to be involved in property business as well, but was accused of issuing counterfeit deeds as well.
The scam was busted by the Central Bank in 2008 during which he was accused of cheating persons for more than Rs 1,000 million deposited by more than 2,100 people.
He fled the country and eventually was arrested on return in 2010.
BY Manopriya Gunasekara
Public Security Minister Ananda Wijepala told Parliament today that the suspect in the rape of a lady doctor at the Anuradhapura teaching hospital has been identified as an army deserter and he will be apprehended shortly.
Police have arrested the suspect connected to the sexual assault on a female doctor at the Anuradhapura Teaching Hospital today morning in Galnewa.
The Dutch Public Prosecutor suspects two companies of paying bribes in the construction of hospitals in Sri Lanka, according to an investigation by FD, the Dutch financial newspaper.
The Minister of Power, Kumara Jayakody, stated that in the future, internationally funded projects, such as power projects, will only be carried out through government-to-government (G2G) agreements and competitive procurement.
The Government today tabled in the House the Report of the Commission to Inquiry into the Establishment and Maintenance of Unlawful Places of Detention and Torture Chambers in the Batalanda Housing Scheme.
Israel, a major player in the global diamond and jewellery trade, has invited Sri Lankan gem and jewellery businessmen and designers to collaborate with Israeli diamond traders.
Leave Comments