News

Court orders CID to probe Rs.90 mn. fraud at People’s Bank

Published

10 hours ago

June 27, 2025

editor

Colombo Fort Magistrate – Nilupuli Lankapura has directed the CID to launch a full investigation into an alleged Rs.90 million fraud at the state owned People’s Bank.

The order follows a motion filed by Senior Counsel Gunaratna Wanninayake over the incident said to have occurred nearly a decade ago, calling for the perpetrators to be caught.

Accordingly, the CID’s Commercial Crimes Division was instructed to identify those responsible and report progress by July 30th.

The case originated from a CID complaint filed on October 28, 2015, by Chairman of Yashoda Holdings (Pvt) Ltd – Yasasiri Kasthuriarachchi. The case alleges that forged documents were used to fraudulently secure a loan by transferring property ownership.

Senior Counsel Gunaratna Wanninayake informed the court that a loan of Rs.90 million was secured by mortgaging a 48-acre land in Pasyala worth Rs.4,000 million inherited by his client – Kasthuriarachchi. The loan was obtained from the state bank using forged documents and without the loan money ever reaching his clients’ accounts.

He further noted that loans of this scale from a state bank usually require board-level approval, yet no such approval is on record prompting the question of who misappropriated the Rs.90 million.

He requested a full investigation into the incident.

News

Nishantha Wickremesinghe remanded (Update)

Published

10 minutes ago

June 27, 2025

editor

Former Chairman of SriLankan Airlines Nishantha Wickremesinghe has been remanded until July 01.

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(Previous News : June 27, 2025 4.41pm)

2 ex-heads of govt. institutions, arrested

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has arrested two former Chairmen on corruption charges.

Former Chairman of the Fisheries Corporation – Upali Liyanage and former SriLankan Airlines Chairman – Nishantha Wickremesinghe have been arrested in this manner.

However, Liyanage, who was produced before Colombo Chief Magistrate Thanuja Lakmali Jayathunga, was released on three sureties amounting to Rs. 5 million.

News

Body of undergrad who went missing at Port City beach, found (Update)

Published

3 hours ago

June 27, 2025

editor

The body of the undergraduate who had gone missing at the Port City beach, has been found.

The body was found during a search by divers.

(Previous News on 27th June 2025 at 10.06 am)

Undergrad goes missing at Port City beach while snorkeling

A 24-year-old university student from Asgiriya, Gampaha, has gone missing yesterday morning (June 26) while swimming in the sea off the Colombo Port City beach.

According to the police, the student, a resident of Gampaha, was part of a group of students from the Universities of Colombo and Moratuwa who had visited the artificial beach and engaged in snorkelling.

The student failed to resurface, prompting a complaint to the Colombo Port Police.

Lifeguards later recovered the snorkeling gear believed to be belonging to the missing student.

A joint search operation involving Navy divers from the Colombo Port and Rangala Navy Division is currently underway. Further investigations are underway by the Colombo Port Police.