25 October, 2020

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What’s The Deal Ravi K?

By Malinda Seneviratne

Malinda Seneviratne

Malinda Seneviratne

The previous regime was the most corrupt in remembered history, according to those who sought to bring it down. That’s a claim that is a common cry by the Opposition. The regime of Chandrika Kumaratuga was similarly chastised. The lady was even dubbed ‘Chaura Regina’ (The Thieving Queen).

This Government, however, moved quickly to bring to book alleged wrongdoers. High ranking individuals associated with the Mahinda Rajapaksa presidency have been arrested, charged or questioned. A special unit to investigate financial corruption has been set up. And it is not just politician and officials, even top business persons are being investigated. Lilith Jayaweera, for example.

All this is good. Good to investigate and if wrongdoing is proven, then good to charge and convict. However, any legal system that is selective in such matters is an insult to the intelligence of the public it purports to serve and is morally bankrupt to boot. That’s exactly what the discerning public might be forced to convict if one corrects all the dots that are getting placed with respect to the travails of and the possible resurrection of the troubled Ceylinco Group.

Ravi KThe big boss of Ceylinco, Lalith Kotelawala was charged with defrauding depositors. He spent time in jail. His wife Cecille, also charged, fled the country. The depositors have fought hard for many years to win some compensation. Some had lost their life savings. Some committed suicide. They are yet to recover.

What might have been seen as a silver lining, namely the promise made by Finance Minister Ravi Karunanayake to ensure that they are compensated PROVIDED THEY WITHDRAW THEIR CASE, now looks like yet another red herring.

The reason for doubt comes in the form of mysterious purchasing of Ceylinco Insurance shared by entities that have or are suspected to have close business relations with Lalith Kotelawala. It might be the case that Kotelawala is using these entities to win back control of Ceylinco Insurance.

Kotelawala was a strong backer of Prime Minister Ranil Wickremesinghe during the latter’s failed bid to become President in 2005. Is a ‘friendly’ Government going to give a leg up to a man who has fallen quite a bit from the dizzy heights he strolled in happier times?

What is the Securities Exchange Commission saying about all this? What is the Central Bank, a co-respondent in the case filed by the depositors, saying? Is it all about good friends and old boys’s clubs? Is it an us-them case where ‘our guys’ can do no wrong (as in they CAN do wrong and get away) but ‘your guys’ will be drawn over the coals?

We saw Ranil Wickremesinghe shamelessly defending the Central Bank Governor who has not been cleared by the committee investigating the controversial bond issue (‘Not directly involved’ implies ‘could have been indirectly involved’, and indirect involved is what insider trading is all about!). No steps have been taken to act on the recommendations of the committee.

For these reasons we are compelled to ask Ravi Karunanayake whether or not he (or the Government) has cut a deal with Kotelawala and if so what the deal is. Of course deal-makers don’t easily acknowledge the fact. However, if Kotelawala does make a come back, under whatever conditions, it would be a signal to what the people can look forward to (with anguish and trepidation of course).

*Malinda Seneviratne is the Chief Editor of ‘The Nation’ and his articles can be found at www.malindawords.blogspot.com

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Latest comments

  • 4
    5

    Malinda Seneviratne –Mahinda Shill and White-Washer

    Can we take about,

    1. The Rape of a school girl under The plalanya and the behavior of police

    2. The Killings at Aluthgama under Mahinda Rajapaksa and the behavior of police.

    3. The Rape of the Country’s resources Mahinda Rajapaksa and his cronies

    4. The Non-Mahinda Rjapaksa Fraudsters, you are interested in talking about.

    “For these reasons we are compelled to ask Ravi Karunanayake whether or not he (or the Government) has cut a deal with Kotelawala and if so what the deal is. Of course deal-makers don’t easily acknowledge the fact. However, if Kotelawala does make a come back, under whatever conditions, it would be a signal to what the people can look forward to (with anguish and trepidation of course).”

    Good, ask, and we also want to know all the deals of Mahinda Rajapaksa as well.

  • 4
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    Is Ravi Karunanayake the guy protecting Arjun Mahendran too ?

    How come Courts wait until a UNP govt comes to acquit Ravi Karunanayake ?

    It is a female judge who acquitted him.

    • 1
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      Jim Softy,

      The truth is the funds that were sent by Raj Rajaratnam was sent legally to the country with the knowledge of the Central Bank. Nexia Corporate Company were the Secretaries. There was no way that this money was brought in secretively. In fact Ravi is in possession of a letter issued by the Governor Central Bank Nivard Cabral reference the Fund transfer. MR did his best to fix Ravi with the help of the Judiciary that was corrupt. Otherwise imagine if there was enough material, MR would not have fixed Ravi for good for over four years under him the case being dragged unable to convict Ravi? So naturally Ravi was acquitted as there is no bona fide case.

  • 2
    4

    Malimda Senevirate is obviously a MR supporter and naturally he would like to, point something which MRand co could bark on.

    1) Re Mahendran – the P.M, has clearly informed the Parliament and it is worth investigating all, transactions from 2012 onwards atleast how the Bonds were dealt with. Why Malinda is conveniently avoiding referring this aspect.

    2) Ceylinco – Golden Key depositors : what did MR’s government do for the last 5 years to helpthe depositors get their money back? They only made false promises. However, they have ripped off some of the assets of Ceylinco group to their cronies and not realise best value which allmwould have been helpex to reimburse depositors even on instalments. Did the MR’s government handle the whole affair in a very professional manner and help the depositors recover their monies invested at the same leave what was legitimately the entitlement of Ceylinco shareholders.
    Ravi K sincerely promised to get the monies refunded to th3 depositors over a stipulated period ans what iswrong with same?

    During MR’s time of governance everything was done on a backdoor deal to benefit their cronies and Malindaetc woukd also have benefited from such give aways and therefore he thinks dealing with Kotalawela in a similar manner.

    3) Even a child today knows there has been massive corruption on many deals by way of commissions, overpricing etc etc in additiin to various other misuse of power.Even I/D numbers have been misused. Does Malinda expect all thexe to be forgotton anc left behind.

    Very unfortunately we get journalists like Malinda was who are biased towards their favourite leaders and anything what others do are seen as wrong. Of course, there are ni give aways like lab tops, free foreign trips etc from Ranil’s government and this may be disappoimting to people like Malimda!!
    ?

  • 0
    2

    According to Malinda the Rajapakses are not to be blamed because there are others who are worse than them on the matters of bribery, corruption, nepotism, favouritism, embezzlement, lying, cheating, abduction, plunder, blackmail and more. The only crime they were categorically not guilty of is cattle rustling, at least not proven.

  • 4
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    Malinda

    I maybe wrong but I strongly suspect that asking the depositors to withdraw their case is a total violation of their rights. I don’t think it is negotiable and amounts to government interference in the judicial process.

    Of course I may be wrong.

  • 0
    0

    You still support the criminals who gave a you laptop. Shameless – scoundrels like you should resign from your position if you intend to bring up your children in a decent manner. We are compelled to ask you why you are so treacherous towards Sri Lanka. Are still looking for the former swindlers to rob more of the county’s wealth.

  • 0
    0

    Lalith K is a born again evangelical. He and Cecile stole on behalf of their christian gid/goddess.

    MR is a confused buddhist thief; MR did nothing to help GK depositers. LALITH will pray to Jesus and He will be Saved and they’ll take the loot and laugh at you Buddhist, Hindu, Muslim clowns Lalith and Cecille HAVE a right to loot; It’s their God Given right. He’s untouchable.

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