20 May, 2019

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Chanuka Ratwatte And Four Others Arrested For Rs. 12 Billion Financial Fraud

Chanuka Ratwatte, along with four others who were arrested today by the Financial Crimes Investigation Division (FCID) over alleged financial fraud charges committed by them at Entrust Securities PLC, were remanded till September 28.

Chanuka Ratwatte

Chanuka Ratwatte

Initial investigations revealed that they may have swindled as much as Rs. 12 billion.

They were remanded on charges that they had allegedly misappropriated Rs. 4.2 billion worth of government funds under the Public Property Act.

In January, the Colombo Magistrate Court impounded the passport of Chanuka Ratwatte, as well as five other directors and the general manager of Entrust Securities due to the ongoing investigation over the financial fraud.

Chanuka Ratwatte, who was the Group Managing Director of Entrust Securities PLC, is the son of the one-time powerful Anuruddha Ratwatte, who held several top ministerial portfolio’s during former President Chandrika Bandaranaike Kumaratunga term.

Early this year, Entrust Securities were taken over by Central Bank which appointed the National Savings Bank to oversee the management of Entrust, due to its financial crisis. Even though the Central Bank had given three months’ notice to the management at Entrust to come up with a credible restructuring programme, as the company had failed to meet the deadline, the Central Bank decided to take the company over.

According to the company profile, published in the market data site of the Financial Times, Entrust Securities PLC which was located at the World Trade Centre, Colombo, was incorporated in 2000, and is engaged in buying and selling of government securities for customers. The Company is also engaged in leveraging on own portfolio in the money market. The company is a licensed primary dealer appointed by the Central Bank of Sri Lanka to deal exclusively in government treasury bills and treasury bonds. The Company is also appointed as the licensed stock dealer and stockbroker in debt securities by the Securities & Exchange Commission of Sri Lanka to exclusively deal in listed debt instruments. The Company’s immediate parent company is Entrust Holdings Limited. Its ultimate parent company is Entrust Capital Partners (Private) Limited. According to Bloomberg, Chanuka Ratwatte is listed as the Executive Director for both Entrust Ltd, and Entrust Holdings Ltd.

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Latest comments

  • 10
    14

    So much flak is thrown at Charitha Ratwatte being a close buddy of Ranil by CT and also Suren Ratwatte CEO of Sri Lankan Airlines thats its a wonder that Chanuka Ratwatte whose name is involved in this fraud was also called “a brother of Charitha and Suren” friends of Ranil

    • 37
      1

      Ratawattas are CBK’s relatives. They are the elite, cream of the rotten corrupt and rent-seeking POLITICIANS who constitute a SUPER CASTE of blood suckers that rules the Miracle of Modayas.

      The politicians one and all – SLFP and UNP – have ruined Lanka and continue to enjoy impunity and immunity under Rani-Sira Ayahapalanaya govt.

      Today VAT is foisted on the people and the clown Rajith Seniviratne says that the people have to pay for Mainahda Jarapassa’s billions worth of Loans. If Jarapassa took the loans he and his family should pay them back! Why should the peolple pay Jarapass’s loans? Why is that financial criminal enjoying SUVs and over seas trips at the people’s expense. This is the blood joke of the IMF and World Bank’s trickle up policities – make the poor people of the world pay for the corruption and criminality of the Global 1 percent which include 3rd world dictators whose stolen funds are parked in off shore bank accounts that invest in the Western Capitals and keep their stock markets going.

      • 6
        7

        You made my day… thanks mate…

        That Kakka Rajitha has dodged 11 Bribery Commission inquiries,

        And Yahapalana Batalanad’s Cousin is mum about it ..

      • 10
        2

        S.Modaya,

        Your comment about stealing & murdering Ratwatte criminals from Kandy, who are elected to Sri Lanka’s Parliament by bloody idiots of Kandy district will go down in hisotry as a classic.

        Cheers!

        • 4
          0

          where is mano ratwatte (cousin of CBK) the school teacher in love with Punjabi and Malayalee chai with froth.

        • 6
          0

          Ben Hurling

          “Your comment about stealing & murdering Ratwatte criminals from Kandy, who are elected to Sri Lanka’s Parliament by bloody idiots of Kandy district will go down in hisotry as a classic.”

          Not so fast.

          Mr Shelton Ranaraja MP for Kandy and his wife Chandra Ranaraja (Mayor of Kandy) were rare exceptions.

      • 1
        1

        Please bring on legislation to allow us to sue in retrospect people who simply express their inferiority complexes and latent simple minded hatred on the internet.

        A few rotten apples and anyone who bears the name is condemned.

        What’s more no one dares to say otherwise.

        If you buggers want the name so badly that all you can do is express the endemic Sri Lankan Hatred and label all of them “rogues and murderers” you only show your own ridiculous, small minded stupidity.

        As for calling everyone in kandy idiots, you are also a wannabe Kandian !

        My deepest sympathies to you and I wish you a quick conversion by deed poll for the name and a forged birth certificate for your origins.

        • 0
          0

          “”Please bring on legislation to allow us to sue in retrospect people who simply express their inferiority complexes and latent simple minded hatred on the internet.””

          “If you buggers want “

          Even in the west we do not have that but there are a few instances of tweets and MI5 caution.

          What you mean by bugger ?? are you from the kennels??

          “”inferiority complexes”

          Bigots see something they expect and then they stop thinking about what is in front of them. It’s probably how they got to be bigots in the first place.- White Night.

          Cállate and learn tolerance from the English then you can have cuenca white wine in plenty.

    • 3
      0

      Good to see FCID stepping up when such action should have been taken by CBSL and SEC who are both sleeping.

      SEC speaks a lot but with no action. What happened to the 17 cases that were pending when yahapalanaya govt came to power? We were promised that action will be taken. All swept under the carpet since most of the crooks were MARA cronies and SEC is a talk shop only

      This fraud involves money from CEB provident fund. How come no action taken against then CEB board of directors?

  • 39
    0

    Mr President we want to know where all the money for all the huge constructions we see all around Colombo are coming from!? Any chance the Rajapaksa black money is coming into most of these projects!? Panama papers might have the answers to some of them maybe!? If you need ask INTERPOL (The International Criminal Police Organization) or the CIA for help! Please no more of this “Game of Shape” (Sri Lankan term for cover up)!!!

    • 27
      1

      Aaaah !! Things seem to be falling in place at last … slowly but steadily.

      • 5
        0

        don’t be hasty, Lankawe missing papers for final verdict is not a joke.
        There is always the rich parana coats that make the country spin.

  • 9
    0

    How wonderful , Another mind blowing story of FCID.

    W e see the gang of Five on the main picture as though they have been taken to the COMEDY SHOW escorted by clowns of Police service (. Making a Mockery of the Law of the country being escorted for the comedy show) and not to the Courts for committing Fraud of 12 Billion ?

    This kind of making a mockery of justice system can only happen by the THIEVES OF THE RAJA PISSA ERA!!

    Arrested and taken to courts is no Joke. Who are these Morons with NO SHAME OR GUILT AND NO REMORSE.
    THIS IS HOW THEY WERE PREACHED BY LORD BUDDHA’S MODERN DAY PREACHERS IN SL.
    NO GUILT NO SHAME NOTHING .

    I’M TEMPTED TO DESCRIBE THIS BEHAVIOUR IN BAD LANGUAGE BUT I’ M NOT LIKE THESE THIEVES AND MURDERERS TO USE SUCH LANGUAGE WHETHER THEY’RE EDUCATED OR NOT THEY BELONG TO A BASKET OF DEPLORABLE.

    MIND BOGGLING.

    • 2
      9

      Are you loyal follower of Pirahaparan?.. And Abraham who wants Buddhism out of the Constitution.

      What has Our Maha Sanga got to with Ratwatte rorting the Bond Market?.

      Didn’t Batalanada Ranil’s Mahendran and SIL do the same thing.

      Do the maths and see how much is 2.65 % 0n LKR 20 Billion, over 30 years?..

      Analyst. Please don’t give up your day job, unless Batalanada Ranil gives you a gig in his F*****CID.

      • 9
        1

        KASmaalam KA Sumanasekera

        “And Abraham who wants Buddhism out of the Constitution.”

        I want you lot out of the island.

        When are you leaving?

      • 5
        1

        Are you loyal follower of Pirahaparan?…And Abraham wants Buddhism out of the constitution.

        Poor you Sumane. Grow up.
        With your poor mental ability you can only connect Rat…Watte rorting the Bond market and our Maha Sanga??
        Is it not the 75% of the High Echelon of our society is ROTTEN TO CORE WITH THE TOTAL BREAKDOWN IN MORALITY??!

        WHOSE FAULT IS IT??
        Supporting crimes are not my ideology nor my thoughts for the future of my country.

        Please think before you write some nonsense.
        ARE YOU FOR COVERING UP THE CRIMES OF THE CENTURY??

        Our country will not have been in this situation as at present certainly due to lack of Spiritual teachings from childhood .
        Face the FACTS BEFORE YOU BURY YOUR HEAD UNDER THE MARA PISSAS SKIRTS.

        IF YOU LOVE YOUR COUNTRY YOU WILL NOT SUPPORT THE WHOLE SALE ROBBERS OF OUR STATE.

  • 7
    0

    When did catching rogues/ thugs and murderers become undesirable Colin ?! Unless ofcourse you are now suffering those horrible withdrawal symptoms yourself ! Withdrawal of security, convoys, safety, unlimited funds (of others) etc etc
    Let these guys rot on earth and hell

    • 4
      1

      You got me wrong. Nowhere did i state that catching rogues and criminals should be undesirable. I merely said that CT and some others on the panel target Charitha Ratwatte and Suren Ratwatte CEO Sri Lankan Airlines quite often and harp on the fact that the former is a friend of Ranil and the latter his brother that I would have not been surprised as part of this tarnishing the guilty would have even said “Chanuka is a brother of Charitha and Suren”
      I was merely trying to focus on the fact that Charitha and Suren are targets unfairly many a time and poor Ranil’s name too is dragged in stating “Charitha is a classmate of Ranil and Suren is Charitha’s brother”

      • 0
        1

        Don’t worry Colin…they all know ! They are just getting their rocks of in internet anonymity.

      • 0
        0

        colin,

        talking or the boys, the girls and the club.

        get this to your head western media is a very powerful tool it makes celebrities and it also breaks celebrities.

        I dislike saints without sins and frustrated bigoted dons (mafia)

  • 7
    0

    Yes. Well!
    Until the Thieves , murderers And the drug dealers are PUNISHED for the crimes committed the country will never move forward.
    We will be in the CESS PITT Until these crooks are BANGED UP.

    Not the Very Powerful Politicians , the High Maha Sangha nor the Few Crooked lawmakers from the Judiciary should Aid And Abet to PROTECT THESE THIEVES.
    WHETHER THESE CROOKS ARE FROM THE POWERFUL FAMILIES OR NOT. LAW IS LAW.

    THERE SHOULD BE NO FAVOURITISM.
    LET THE TRUE LAW TO PUNISH , AND OUR COUNTRY NEED TO RID OF THESE DANGEROUS PEOPLE FROM
    THE HIGH AND LOW SOCIETY.

    PRESIDENT WE NEED OUR COUNTRY FOR OUR GRAND CHILDREN TO LIVE WITHOUT THESE MENACES.

    TEACH THE VALUE OF LIFE AND HONESTY WHICH IS LACKING AND ERODED FROM OUR SOCIETY FOR A LONG TIME.

  • 6
    2

    Super. Justice is equal.

    Will it be another ‘fishing experience’ to catch and release.

  • 24
    1

    It seems these Ratwattes are a bunch of mafia thugs and cheats. From the time they killed innocent Muslim youth during elections years ago, and now the alleged stealing of millions from this country, it seems the so called elite from the hills are nothing but guttersnipes and criminals, always getting away with filthy crimes because of who they are and who they are connected to. Our people should get wise and stop voting for these families- they do nothing for the country, only for their pockets.

    • 6
      0

      Don’t forget poor Joel Pera…. these Trinitians get away scot free each time for their dastardly crimes are ‘shaped’ up by the sundry relatives in positions of power.

      • 3
        0

        CBK’s powers already stretch to London- they are all rich and powerful within labour party.

      • 0
        0

        Trinity College produced a distinguished lot of academics, professionals

        and administrators throughout the years. It also produced a fine crop of

        murderers,frauds and con men at times.

        One such person who benefitted from his connections was the father of the three Ratwattes who was promoted by Sirima overnight from being a Lieut in the Volunteer force,to Lieut Colonel in the Regular force. He went on to be made a General without any Military knowledge or training, and was responsible for the disastrous withdrawal from Elephant Pass camp in 40 degree heat and in broad daylight. Two officers died of thirst including hundreds of soldiers who were either killed by LTTE or succumbed to thirst

  • 16
    1

    Look at this moron’s face in the picture. It seems, Crimes, Corruption, and Murder clearly radiate from his very appearance. All Ratwattes are as corrupted and murderous as Mara, Gota, and Basil clan.

    These criminals deserve the most deadly and horrendous punishments. We, the masses of this cursed island eagerly await the day these criminals are hacked into pieces in public and hung in Galle Face for public view.

    • 9
      1

      Word is that the Ratwattes are about to get into bed with the Jarapassas matrimonially speaking…. imagine the offspring… !!

  • 5
    2

    I do not know about this guy and his crooked buddies. But I cannot understand how MARA was conducting his affairs, and allowing these crooks to swindle the government at this level of fraud. Has he been sleeping, or have they been swindling at MARA behest for, say, a 50% cut for himself.

    Furthermore, if these RAT-wattes are from late Mrs Sirimavo Bandaranaike clan, and they are also linked to CBK and Ranil, we now see how these so called elitist people have been stripping the country of its assets. Here Ranil is protecting MARA and his mob, and now he is inextricably linked to these crooks through whatever their cursed relationships. All of them including MARA mob are so intrinsically enmeshed in swindling and fraud. Ranil has the bloody cheek to impose additional tax on the citizens when he should be recovering all the missing Treasury from these crooks. My God what a state of Governance?

    Many years ago a Sri Lankan man called Saundra defrauded thousands of motorists in the UK through his fake Insurance company. At the time, I thought, by Jove, some Sri Lankans are master crooks. But now with crooks of the current calibre, Saundra pales into nothing! World crooks, please come to Sri Lanka, you will learn how to empty the National Treasury with a nod and a wink from the elitist politicians. All done while keeping the citizens happy with occasional Dansela and musical entertainment with politician pop-singers!

    • 3
      0

      therefore you do not find any 4 legged Lions but Cheaters and Cheetahs.

      It’s been a place for dacoits to hide and multiply.

      They were brought to kandyan plains from spice island Banda islands by Portuguese.

  • 4
    1

    OK. Not to worry. One call by CBK to obedient servant of the Banda Family, Mr. Bodipala will take care of this white collar criminal same way as RW took care of James Bond M. What has happened to the case of Pradeep Kriyawasam who was charged with misappropriation of NSB funds?

  • 5
    0

    How come so much of illegal money floating around in the country while the Govt. is going around the globe with a begging bowl and the poor finds it difficult to find the money to make one square meal a day.

    FCID is doing a good job by at least exposing the culprits in corrupt-
    tion to the people, though none of them brought before the judge, yet. Govt. should take a firm stand not to interfere in these cases as we got to get rid of this menace of corruption if the country is to prosper.

    • 4
      0

      “”How come so much of illegal money floating around in the country while the Govt. is going around the globe with a begging bowl and the poor finds it difficult to find the money to make one square meal a day.””

      Because the IMF/WB CIA say so.

      GDP (purchasing power parity):
      $223 billion (2015 est.)
      $212 billion (2014 est.)
      $203 billion (2013 est.)
      note: data are in 2015 US dollars
      country comparison to the world: 63

      GDP (official exchange rate):
      $82.1 billion (2015 est.)

      They allow 3 times GDP borrowing.

      “”Govt. should take a firm stand not to interfere in these cases as we got to get rid of this menace of corruption if the country is to prosper. “”

      When it goes to parana coats and supreme courts. it would be worse than Enron case as Sri Lankans are famous to criticise the west and do more damage.

      you did not want an embargo saying you were decent and not ME type to start a spring. Now enjoy the long heat wave.

  • 4
    0

    we see so many people coming to the FCID… who have done that done this… but its so funny when the biggest rouges are freely lurking around… this is pure injustice… what about the biggest crime that took place in the recent past in Central Bank it self… that was not even funny

  • 6
    0

    We need a man with balls of Duterte type as a President to take all these crooks out at dawn and shoot them. They are traitors that strip the national assets for private use; all of them deserve only one place: HELL and need a leader to despatch them there.

  • 5
    0

    I find it strange that the names of the “four others” is not published. May we also know who they are?

  • 9
    0

    What happened to 70 million certificate of deposits of the father found in a bank vault

  • 4
    2

    Looks like an HIV – AIDS patient.

  • 3
    0

    I just have a simple question. With a murder, there is a body and there is a weapon. Without one of them, its called circumstancial evidence. If you don’t have both, its not murder, but a missing persons report.

    With all the cases the FCID, PRECIFAC and Bribery commission have filed so far, we have not seen the MONEY! The allegations are being leaked even before the arrests are made. The accused spends a couple of nights in remand and they are back out because these are considered ‘white collar’ crimes. However, there has not been a single instance when any of the afore-mentioned entities have produced evidence in court that shows that any of the accused have owned properties, bank accounts or any other assets that were purchased with the proceeds of all the claimed fraud.

    We all know the frauds happened. Then, one has to infer one of two possibilities. The racketeers are better than the investigators at hiding their rackets OR we have a bunch of clueless investigators running in circles! Case in point: The Dubai authorities told our jokers to get lost, when they went there to claim there were stolen funds sitting in their banks. They were point blank told; go file a case in your country, prove it and then come to us with the proof.

  • 3
    0

    Look at the picture! He looks more like a cadaver than a human being.Avathaara of `Reeriyakha`?

  • 3
    0

    Stealing from the government and walking around with body guards, like your a big shot. Hahahahaha what kind of nut are you, buddy?.

    Why don’t your try stealing some dignity, some values and respect for public property???.

    Your a disgrace. We all know when the time is right and the teams come together, you start ripping everyone off, taking what’s not yours, acting boru gangster all knowing that your above the law with such corrupt scum at the top.

    Your lawyer is the definition of a dirt bag.

    I strongly believe you should use some of that loot to get a makeover. You look repulsive. All that crime, stealing from the government and equity markets pumping and dumping, and advantage you’ve enjoyed in luxury has taken a toll on your face and body.

    #rats #livingoffthegovernment #Horapakse #Disgraceful #scumbags #daylightrobbery
    #hellawaitsyou #Paybacktime

  • 0
    0

    Wht about Kotalalawala and his directors gang? They also may have misappropriated public money? Any comments pl.?

    • 1
      0

      Yes every single Kotalawela is a crook and murderer and they should be locked away ! Also everyone who invested their money with them are unqualified idiots.

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