18 September, 2020

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Chanuka Ratwatte Further Remanded Over Multi-Billion Financial Fraud

Chanuka Ratwatte and four other board members of Entrust Securities were ordered to be further remanded till October 21 by the Colombo Fort Magistrate.

Chanuka

Chanuka

They are charged under the Public Property Act and Prevention of Money Laundering Act, for allegedly committing a financial fraud amounting to Rs. 4.2 billion which belonged to at least 350 investors who invested their monies at Entrust. According to reports, the money that has been swindled by Ratwatte and the others include the pension fund of the state owned Ceylon Electricity Board and several other state institutions.

Along with Ratwatte, the four others currently in remand are Isira Dharmapriya Bandara Dasanayake, Rumesha Dushyanthi Seneviratne, Sanjeewa Dayaratne and Niroshan Mendis.

Ratwatte, who was the Group Managing Director of Entrust Securities PLC, is the son of the one-time powerful Anuruddha Ratwatte, who was deputy defence minister during Chandrika Bandaranaike Kumaratunga’s term as President.

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 investigation over the financial fraud.

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Latest comments

  • 3
    2

    Chanuka Ratwatte and four other board members of Entrust Securities

    RE:Chanuka Ratwatte Further Remanded Over Multi-Billion Financial Fraud

    Chanuka Ratwatte and four other board members of Entrust Securities you guys missed out on getting an INVITATION to DUDLEY SIRISENA’S SON’S WEDDING, like Gotabaya, Gotabel, getting a photo with the Gamarala President. Then you could have traveled abroad, just like Gotabaya, instead of being in jail.

  • 6
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    How come the other directors from 2010 to 2016 are not enjoying a stay inside the mansion at Borella?

    Also CEB directors did not know that Rs 3 b of funds from their provident fund was missing. How come the GM and board members are still not questioned? Infact I am being informed that one board member served on both CEB and Entrust!!

    Aldo Entrust being a PLC and a primary dealer, the regulators such as SEC and CBSL should be answerable !!!

  • 3
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    How did Chanuka become a director of this company?

  • 4
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    “include the pension fund of the state owned Ceylon Electricity Board and several other state institutions.”

    the guys who put the public money in to this shithole also should be remanded.

  • 4
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    these crooks will be out soon, like all other token jailed crooks, drama to shoe people that they are doing some thing, what happen to the all the cocaine importers , drugs sold under the table by police, and no court case?? yahapalanaya crooks

  • 3
    0

    Like father like son?

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