Popular English tutor Sakvithi Ranasinghe yesterday settled the second installment of Rs.5 Mn before the Colombo High Court over the case filed against him and his wife for allegedly running an illegal financial institution without the approval of the Central Bank of Sri Lanka and accepting deposits over Rs.164 million from the people. The case was taken up before Colombo High Court Judge Adithya Patabendige.
At a previous occasion, Sakvithi Ranasinghe and his wife pleaded guilty to the charges and agreed to pay the obtained amount in 20 equal installments. Accordingly, they agreed to pay 60% of the total amount which was obtained from the depositors in 20 monthly installments of Rs.5 Mn each.They also settled the first installment on that day.
The Attorney General had filed an indictment against Sakvithi Ranasinghe, his wife and eleven Board directors of Sakvithi House Construction Financial Institution, and the Attorney General had previously decided to release the rest of the accused except Ranasinghe and his wife from the case.
This case was filed against the accused in 2015 alleging that they had committed a punishable offence under the Penal Code by accepting deposits of Rs.164,185,000 between November 1,2006 and September 31, 2008.The case will be taken up again on September 22.
Dilshan Tharaka
