15 September 2022 09:45 am Views - 857
Popular English teacher Sakvithi Ranasinghe, who pleaded guilty to operating an financial institution without the approval of the Central Bank of Sri Lanka was yesterday sentenced to 22-year-rigorous imprisonment suspended for five years by the Colombo High Court.
Sakvithi Ranasinghe had served as the Chairman of Sakvithi Housing and Construction (Pvt.) Ltd, at the time the alleged offences were committed.Sakvithi Ranasinghe pleaded guilty to eleven counts levelled against him and was sentenced to two years imprisonment for each count. Colombo High Court Judge Amal Ranarajah further imposed a fine of Rs. 275,000 on the accused. The court further sentenced Kumari Anuradhani, the wife of Sakvithi Ranasinghe to two years imprisonment suspended for five years for aiding and abetting to commit the offence. The Attorney General had originally filed indictments against Sakvithi Ranasinghe and several others for committing a criminal breach of trust with regard to
Rs. 1,628 million worth funds of depositors at Sakvithi Housing and Construction (Pvt.) Ltd between 2006 and 2008.