News
Swarnamahal directors on bail re-arrested on different charges
AG refers to loss of Rs 6.4 bn as a result of criminal misappropriation, cheating and money laundering
By Shamindra Ferdinando
The police yesterday (8) re-arrested Directors of now defunct ETF Finance Ltd soon after Attorney General Dappula de Livera, PC, ordered the CID to take them into custody on charges of criminal misappropriation, cheating, money laundering and other offences.
The AG’s Department Spokesperson State Counsel Nishara Jayaratne said that the total amount referred to in the above mentioned cases was approximately Rs 6.48 bn.
Police spokesman DIG Ajith Rohana confirmed the arrests.
The AG issued instructions close on the heels of the four directors namely Nalaka Premal Edirisinghe, Jeewaka Edirisinghe, Anjali Deepa Edirisinghe and Asanka Edirisinghe being granted bail by the Fort Magistrate on Wednesday (6).
Responding to a query, State Counsel Jayaratne told The Island that the CID earlier produced the suspects before the Fort Magistrate in connection with the Swarnamahal Jewellers case. Both State Counsel Jayaratne and DIG Rohana said that they were re-arrested in connection with the ETI Finance case.
Nalaka Premal Edirisinghe is the Director and Managing Director of ETI Finance. Nalaka Premal Edirisinghe surrendered to the CID on Wednesday whereas the others were taken into custody on the previous day. In connection with the offenses relating to Swarnamahal Jewellers, the police spokesman on Wednesday estimated embezzlement at Rs 7.2 bn.
Nalaka Premal Edirisinghe is also the Executive Director of Swarnamahal Financial Services, PLC, a member of Sri Lanka Gem Traders Association and a director of 14 companies.
DIG Rohana said that on the basis of investigations conducted by the CID on the instructions of the Attorney General Dappula de Livera, PC, the suspects were allegedly responsible for cheating, criminal breach of trust and criminal misappropriation.
Depositors who lost money as a result of the embezzlement called a media briefing in Colombo where they demanded the government take tangible measures to compensate them. They vowed to step up protests until justice was done. They alleged those responsible for ensuring transparency and stability allowed some finance companies to manipulate the process at the expense of the hapless public.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
