28 June, 2022


Golden Key Depositors In Limbo Due To ‘U’ Turn By Mohan Pieris

The completion of the Golden Key depositors repayment, has come to a standstill following the unprecedented stepping down of De Facto Chief Justice Mohan Pieris from the bench which heard the case.

De facto Chief Justice Mohan Pieris

De facto Chief Justice Mohan Pieris

The repayment was scheduled to be completed by January 2015, with the Chairman of the Task Force appointed by the Supreme Court and Central Bank informing court that the entire repayment would be completed by January 2015.

However, in a surprising move Pieris who heard the case and called for the completion of the payment stepped down on July 28th from the bench citing a “scurrilous” letter being circulated in the media and among his family members.

The move was unprecedented as no member of the Sri Lankan media, legal fraternity or otherwise had seen the letter or had witnessed the circulation of it.

Pieris was earlier, accused of many issues of conflict of interest in the mainstream media and through Colombo Telegraph,which did not prevent him from accepting the post of Chief Justice citing “conscience”.

Despite his history, Pieris spearheaded the bench which issued relevant orders for the tracing and disposing of Kothelawala held assets in order to pay the depositors.

“I want to finish the payment as soon as possible because its an indictment on the system. The fact that we have taken so long does not augur well for the judicial system” he told court when the matter was heard on March 10th.

The real reason behind the complete “U” turn is not known, but pressure from purported “employees” of Ceylinco Insurance is said to be the cause.

Directors of Ceylinco Insurance which include Kothelawala’s right hand man, Ajith Gunawaradena are accused of holding a “sham” fund by the name of CIESOT on behalf of Kothelawala.

Gunawardena is indicted for fraud in the High Court with Cecile Kothelwala the wife of Lalith Kothelawala still at large.

The efforts taken by the Police and Interpol to trace Cecile has also been questioned since she fled the country right after the collapse of Golden Key.

The moment the said fund was identified as an asset of Kothelawala by the Supreme Court and subsequently by a damning report of the Security and Exchange Commission, Peiris stepped down from the bench.

During the last hearing, the new  bench which comprises Justice Sripavan, Rohini Marasinghe and Justice Sisira de Abrew, there was indication that the entire matter would be transferred back to the District Court.

The indication has caused concern among depositors.

“After six years we have been left with nothing. We have put our lives savings in this and lost everything. Over 20 of us have committed suicide and the rest are suffering each day because the regulators faulted in their duty owed towards us and the public of this country. We expected justice and thats what we want” one depositor told Colombo Telegraph on the condition of anonymity.

The depositors further asserted that the repayment which was made thus far would also be questioned and fall into controversy if the Supreme Court decides to move the matter to the District Court.

“We walked in day in and day out to the highest court of this country after it decided to hear our case. It was here that we came for justice and its only the Supreme Court that could give us justice. Every order that was made resulted in us getting part of our monies back and we all thought that this nightmare would finally come to an end. The Chief Justice also told us that everything will be done by January next year but now after all this we are just lost. We only hope that sanity will prevail because the people of this country if not would completely lose faith in this judicial system and the regulatory system” they said.

The case is to be heard on September 19th.

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Latest comments

  • 14

    Are there worse fool in the universe to expect any relief from a crook of MOHAN calibre.

  • 10

    “People will lose faith in this Judicial System”

    Is there anything left in this country of the Judicial System, to lose faith. Every aspect of the Judiciary was lost with the illegal ousting of the Former Chief Justice by the thugs of MARA Regime and replaced by a Thief Justice.

    No one bothers till the chicken comes home to roost. That is the malady of our country and the SWINDLERS, MURDERERS & PLUNDERERS MARA & CO have taken full advantage of that.

    Sorry State of Affairs. The Civil Society should wake up to this reality, until then, ABASARANAI.

  • 10

    Now all the Golden key Deposit Holders can go to Aluthkade and Cook Kiribath and light fire crackers on the road as they have done when Aadambarakara Thaththa chased Legal CJ Dr. Shirani Bandaranayaka out Illegally.

    • 7

      @ Lapatiya

      The Golden Key Deposit Holders should ensure that they invite the unlawful Cheap Justice, MORON Peiris for this event!

    • 1

      You must understand why the GK depositers lit crackers and cooked kiribath. It was because the disgraced woman CJ was also playing pandu with their investments She had her personal interests and not those of the depositers and was using her high office for manipulation gilmarts.

      • 2

        anil bibiley,

        “…disgraced woman CJ was also playing pandu with their investments She had her personal interests…..”

        People who used to eat Rice knows what exactly happened. Saddarmadveepa Chakrawarthi used all dirty tactics with entire Govt. resources against one Single Lady. He still trying. He used “Kakkussi Katawal” like Wimal Madana Modaka Wansa and other Uneducated Gobbayas to Insult first learned Lady CJ. Finally used that Puppet Balapatabadi to fix the Lady for non declaring “0” balance Bank Account.

  • 3

    If the cheap justice feels so then he should resign from the post of Chief Justice.

  • 3

    That wealthy man Lalith K is not in jail and his wife is living it up
    in London for over 5 years is an indictment against what goes as our process of Law and Order. Our end of Interpol too is clearly buyable. If not why has Mrs. Sicille K not been arrested yet. Bernie Madoff of New York, on the other hand, a very influential man who held the money of the super-rich and famous. He has been in jail from virtually Day One. And that in the decadent US of A that cannot boast of 2,500 years of pristine purity.

    Nearly 10,000 innocent depositors from middle and upper middle class families were sent to the streets by this rogue Kotelawala – during the end of 2008 when his hoax in GKCCC was exposed. He calculated, if matters go wrong against him in GKCCC, he can always bribe his way out of the Rajapakse regime. He was not wrong. In fact Kudu Mervin was one of the first to try to get an underhand deal using the name of the Rajapakses – but that didn’t work. Apparently the deal was 50% of the Rs. 28 billion should be paid in advance to let Lalith K off the hook. Naturally, Kudu Mervin would have done some inflating in the process.

    All what these poor folk got up to now, as we learn, are 3 instalments of Rs.100,000 each. What a sell out? Nearly 20 dozen are reported to have committed suicide as Lalith K ruined them. Hundreds of school children lost their schooling in 1st class schools. Initially, when Basil came forward to help these folk it was widely speculated he will move out of the scene if he did not get his share of the flesh. That is what exactly happened. The curses of all these people will not spare the Rajapakse family. Very little was expected from the defacto CJ while the dejure CJ, in the process of trying to help these innocent folk in the beginning, was bought over and fell foul stricken by the temptation of two luxury apartments.


  • 0

    Any idea of how the victims of the LEE POTTER SCAM are fairing? they too should gang up and make the scam leaders payback their money!

  • 2

    All this is because MR sucker PIASA MUSTHAPHA appeared for the employees. His fee is 10 million. Is this feel declared. Where is the inland revenue

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