Colombo Telegraph

Rāvaya’s Would-Be Shareholders Left Empty-Handed

Three years since Ravaya and its Ravaya Solidarity group promised to issue shares to all of its contributors for monies collected, the would-be shareholders have been left with nothing but false promises, Colombo Telegraph reliably learns.

Victor Ivan

So far the Ravaya Solidarity group has collected 12.7 million rupees from the public.

Unsuspecting contributors were shocked beyond belief when it was revealed that monies collected to keep Ravaya afloat ended being pocketed by Victor Ivan, the former Editor of the newspaper.

It is confirmed that Victor Ivan so far has siphoned over Rs.5 million of the collected funds.

Colombo Telegraph actively supported the Ravaya Newspaper then by making appeals to the public to help its financial sustenance.

However Colombo Telegraph can now confirm that from the collected total funds only a selected few were granted shares by Ravaya Newspaper, even though shares were pledged to all contributors.

As far back as of August 2013 the editor of Colombo Telegraph Uvindu Kurukulasuriya forwarded a question which was posed by a potential contributor which is found below;

Forwarded email;

From: xxxxxx
Date: Sat, Aug 10, 2013 at 4:12 AM
Subject: Ravaya
To: xxxxxx
Dear Uvindu,
I saw the Ravaya for Diaspora announcement in the CT. But didn’t notice anything about shares. They mention contributions. What shall we do?
Friends I have talked to who are willing to support would like to know about shares

Stated below was Lawyer Udan Fernando‘s reply:

On 10 August 2013 09:46, Udan Fernando <udanferxxxxxxxx> wrote:

Uvindu,
as i told you when we met, the Articles are not yet finalized. the value of shares needs of to be determined. but there will certainly be a share issue. the details can be given soon.note that i will not have net access from this morn till 17 Aug.
regards
udan

The full correspondence of this thread of emails was also copied to Gamini Viyangoda, Kusal Perera and Chandra Jayaratne.

After Colombo Telegraph began exposing this fraud, the newspaper started to pay back monies they swindled from the public.

The first to receive his money was lawyer Nagananda Kodituwakku who had earlier reported this fraud to the Mirihana Police, the Registrar of Companies and also the Criminal Investigation Department.

Lawyer Kodituwakku was paid back his contributed sum of rupees one hundred thousand by cheque in full.

However other contributors who were swindled are still to be re-paid their monies.

Meanwhile one contributor who used to work as a Professor of the Political Science, University of Colombo and is now based in Australia, who contributed Rs 50,000 said “I was informed by the current director of Ravaya Gamini Viyangoda (who incidentally became a director after investing our money) that he would give me a receipt and shares as well for my contribution. I have received neither up to date. I simply don’t wish to wallow in this sordid cesspit. Please don’t quote me by name”.

Related;

Chief Opposition Whip Condemns TISL’s ‘Integrity’ Award, Calls For Explanation

Victor Ivan Pocketed Half Of Rāvaya’s Rs 10 Million Fund

Rāvaya ‘Staff-Shareholders’ Clueless About Ivan’s Rs 5 Million Heist

I Got Just Rs 1000 For My Share, Says Rāvaya Founder Director And Deputy Editor Colambage

Sajin Vass’ Restaurant Tip Same As ‘Hashish’ Ivan’s Salary

Ivan Must Return The Bucks He Took: Supporters Including 73 Year Old Pensioner Demand

Ivan’s Rs 5 Million Heist Goes To Fraud Bureau

Ranil Hits Sixers Off Full-Tosses Bowled By Fraudster

Rāvaya Backtracks, Starts Paying Back Swindled Contributors

Transparency International Gives Integrity Award To Accused Media Swindler

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