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| Wednesday, 28 July 2004 |
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The Managing Director of Myungshin Lanka (Pvt) Ltd., Don Jagath Wickrema who was remanded on 4/7/2004 was released on bail on 10/7/2004 in a sum of Rupees 25,000 with two sureties. A Korean Buddhist monk Sin Nuan Buno, resident in Korea had complained to the CID that he was a korean who had known the suspect for the last six years. There after jointly set up this company. He was looking for business opportunities in Sri Lanka and the company had obtained BOI approvat under licence number EC 4/6888/OD in order to bring in foreign investment into Sri Lanka. An MoU was signed by the company for the development of Kalutara Urban development project, the cost of which was estimated in the region of 18 million US dollars. There after he stated that the company opened up bank accounts at HNB and Nations Trust Bank and remitted about 18 million Sri Lankan rupees and that the suspect had withdrawn 5.9 million rupees without expending any money on the project. The suspect's position was that the money had been accounted for in the draft accounts of the company and that the complainant had approved all the expenditure have from Korea. The Magistrate Mrs. Kusala Weerawardane whilst releasing the suspect on bail impounded his passport but permitted him to travel aborad with the leave and licence of the court. Asoka Weerasuriya appealed for the virtual complainant. Anil Obesekara PC with Jeevantha Jayatileke instructed by Sudath Perera associates appeared for the suspect. |
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