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New Bill targets proceeds of crime with strict penalties

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Those who possess any property obtained through proceeds of crime or engage with it in any form of transaction will be considered to be committing a punishable offence under the law and can be prosecuted in the High Court. Those found guilty will face a fine of Rs 10 million and a 15-year jail term.

The new bill titled “Proceeds of Crime,” published this week by the Ministry of Justice, Prison Affairs, and Constitutional Reforms, will enable the recovery of proceeds of crime and, through inter-agency cooperation and international collaboration, will facilitate investigations to recover the ill-gotten stolen wealth.

Under the proposed bill, any person who has knowledge or information about the proceeds of crime and fails to disclose such information to the designated police officer or to the designated officer of the Commission to Investigate Allegations of Bribery or Corruption is considered to be committing an offence as well.

According to the bill, a statement made or response given in the form of an affidavit or a written or oral statement to an investigation officer in response to a notice served on such person under Section 68 of this Act to be admissible against the maker of such affidavit or statement or against any third party.

The bill also enables the setting up of an entity called the Proceeds of Crime Management Authority to protect, manage, and dispose of restrained, seized or frozen proceeds of crime.

The bill vests adequate powers with designated officers of the Authority to seek and obtain assistance from administrative, law enforcement, and judicial competent authorities of other countries for tracing, identification, search, detection, and examination of property suspected to be proceeds of crime and for other investigational purposes.

The officers can also seek assistance for gathering evidence, including documents, witness statements, reports, and other materials suspected to be proceeds of crime.

(Sunday Times)
(This story, originally published by Sunday Times has not been edited by SLM staff)

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Yoshitha Rajapaksa named suspect in money laundering case

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Sri Lanka Police said that they will file charges against Yoshitha Rajapaksa under the Prevention Of Money Laundering Act.

This was confirmed by Police Spokesperson Senior Superintendent of Police Buddhika Manatunga during a press conference held in Colombo this morning.

SSP Manatunga stated that an investigation into Yoshitha Rajapaksa has been ongoing since 2016, following the discovery of over Rs. 59 million in his bank accounts. Rajapaksa has been unable to provide a satisfactory explanation for the source of these funds. Consequently, the police initiated an investigation under the Prevention Of Money Laundering Act.

According to the Police Spokesperson, further investigations revealed that the funds were invested in fixed deposits and bank accounts maintained as a joint account with a woman named Daisy Forrest. Based on these findings, the Attorney General directed the police to name Daisy Forrest as a suspect in the case alongside Rajapaksa.

Today, the Kaduwela Magistrate’s Court formally named Yoshitha Rajapaksa and Daisy Forrest as suspects in the money laundering case.

A foreign travel ban has already been imposed on Daisy Forrest. The police spokesperson said that Sri Lanka Police will continue to take necessary legal actions against all suspects involved in the case.

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No Change in Litro Gas Prices for February

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Channa Gunawardena, the Chairman of Litro Gas Company, has confirmed that the prices of domestic LP gas cylinders will remain unchanged for the month of February 2025.

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17 Police officers discharged from service for drug use

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Sri Lanka Police have terminated the services of 17 officers in the past four months for consuming illegal drugs, including heroin and synthetic substances like ICE.

Police Spokesman SSP Buddhika Manathunga said that the Intelligence Units and Special Investigations Unit compiled a list of officers within the Sri Lanka Police Department suspected of using drugs.

The officers in question were tested and medical reports were sent to the National Dangerous Drugs Control Board. Following the results, the officers were dismissed from the police force.

SSP Manathunga also confirmed that investigations are ongoing into several other officers facing similar charges, and action will be taken based on their medical test results.

The Acting Inspector General of Police has instructed that strict action be taken against senior officers involved in the matter.

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