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* Former president's chief of staff remanded for misappropriation of Rs. 4 billion state funds
Mon, Nov 13, 2017, 09:50 pm SL Time, ColomboPage News Desk, Sri Lanka.

Nov 13, Colombo: A Sri Lankan court today remanded the former President Parliamentarian Mahinda Rajapaksa's Chief of Staff Gamini Senarath and two others until the 15th of this month.

Colombo Fort Magistrate Lanka Jayaratne remanded the three after the former president's top aide surrendered to the Court through his attorneys this morning.

Gamini Senarath earlier filed a petition with the Supreme Court seeking an order preventing his arrest.

Fort Magistrate Ms. Jayaratne on 31 October imposed a foreign travel ban on the three accused.

Gamini Senarath, and former Executive Director of Sri Lanka Insurance Corporation (SLIC) Piyadasa Kudabalage and Director General of the Samurdhi Development Department Neil Bandara Hapuhinna are accused of misusing government funds of 4 billion rupees.

The three accused are founding directors of Sino Lanka Hotels & Spa Private Limited formed in 2011 with the funds from Sri Lanka Insurance Corporation, Litro Gas Lanka and the Employees Provident Fund.

The accused along with another individual has formed another company called Canwill Holdings Ltd and with the cabinet approval the three state institutions invested Rs. 18.5 billion in the new company of which the three accused were also directors.

However, they have formed another company called Helanko Hotels & Spa without cabinet approval and transferred Rs. 4 billion from the Canwill Holdings. Helanko Hotels & Spa later launched the Hyatt Regency project in Hambantota at a cost of Rs. 312.2 million without cabinet approval.


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