{"id":168617,"date":"2016-10-07T13:08:40","date_gmt":"2016-10-07T07:38:40","guid":{"rendered":"https:\/\/www.colombotelegraph.com\/?p=168617"},"modified":"2016-10-07T13:08:40","modified_gmt":"2016-10-07T07:38:40","slug":"chanuka-ratwatte-further-remanded-over-multi-billion-financial-fraud","status":"publish","type":"post","link":"https:\/\/www.colombotelegraph.com\/index.php\/chanuka-ratwatte-further-remanded-over-multi-billion-financial-fraud\/","title":{"rendered":"Chanuka Ratwatte Further Remanded Over Multi-Billion Financial Fraud"},"content":{"rendered":"<p><a href=\"https:\/\/www.colombotelegraph.com\/?s=Chanuka+Ratwatte&amp;x=15&amp;y=6\"><span style=\"text-decoration: underline;\">Chanuka Ratwatte<\/span><\/a> and four other board members of Entrust Securities were ordered to\u00a0be further\u00a0remanded till October 21 by the Colombo Fort Magistrate.<\/p>\n<div id=\"attachment_167624\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2016\/09\/Chanuka-Ratwatte-1.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-167624\" class=\"size-thumbnail wp-image-167624\" src=\"https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2016\/09\/Chanuka-Ratwatte-1-150x150.jpg\" alt=\"Chanuka\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2016\/09\/Chanuka-Ratwatte-1-150x150.jpg 150w, https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2016\/09\/Chanuka-Ratwatte-1-50x50.jpg 50w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><p id=\"caption-attachment-167624\" class=\"wp-caption-text\">Chanuka<\/p><\/div>\n<p>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.<\/p>\n<p>Along with Ratwatte, the four others currently in remand are Isira Dharmapriya Bandara Dasanayake, Rumesha Dushyanthi Seneviratne, Sanjeewa Dayaratne and Niroshan Mendis.<\/p>\n<p>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\u2019s term as President.<\/p>\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":167624,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,1,2375],"tags":[],"class_list":["post-168617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-colombotelegraph","category-news","category-stories"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - 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