AG levels charges against Canvil Holdings CEO over misuse of funds

The Attorney General (AG) has levelled 24 charges against Canvil Holdings CEO Piaydasa Kudabalage over the misuse of funds which had been obtained through illegal means.

Mr. Kudabalage is the second suspect in the case involving the abuse of funds belonging to the Finance Ministry.

According to the AG, Mr. Kudabalage, had used Rs 500 million which was provided to Canvil Holdings Pvt. by Litro Gas Lanka, for illegal transactions.

The Attorney General charged that Rs 450 million was used for the expenditure of Helenko Hotel and Spa’ while Rs 48 million was spent to buy two land slots of Little Inland Cottage.

Further, he charged that Rs 1,890,000 was used to pay the housing lease of Neel Bandara - the fourth suspect in the case and Rs 701, 738 to repay credit card transactions of the Bank of Ceylon.

The AG requested court to summon 63 individuals to provide witness to these charges while also submitting 92 records to substantiate the claims.

He also told court that the suspects could be charged under the Money Laundering Act and the Penal Code.

The case is being heard before the Special High Court three-member judge bench comprising the Special High Court Chairman Sampath Wijeratne, and Justices Sampath Abeykoon and Champa Janaki Rajaratne.