Former ETI Directors granted bail

The four former Directors of Swarnamahal Jewellers Ltd and ETI Finance who were arrested by the Criminal Investigation Department (CID) have been granted bail.

The former Directors Nalaka Edirisinghe, Jeewaka Edirisinghe, Anjalee Edirisinghe and Asanka Edirisinghe were produced before the Colombo Fort Magistrate today (06) where they were granted bail.

Last evening (January 05), Attorney General Dappula de Livera had directed the Inspector General of Police (IGP) to conduct a criminal investigation against the Directors of the ETI Finance and Swarnamahal Jewellers Ltd. over their involvement in operating an unauthorized finance business.

Accordingly, former Directors of Swarnamahal Jewellers Jeewaka Edirisinghe, Anjalee Edirisinghe and Asanka Edirisinghe were arrested yesterday by the CID, acting on further directives from the Attorney General.

Nalaka Edirisinghe, the fourth suspect in the case, had surrendered to the Criminal Investigation Department (CID) this morning. His attorney said Nalaka Edirisinghe could not surrender yesterday due to health reasons.

Investigations are being carried out over the unauthorized acceptance of deposits worth Rs 13.7 billion, misappropriation, and money laundering, Attorney General’s Coordinating Officer State Counsel Nishara Jayaratne said yesterday.

Attorney General has also decided to forward indictments against the Directors of Swarnamahal Jewellers for conducting an unauthorized finance business.