Sri Lanka, May 22 -- Chandana Weerakumara, also known as Sakvithi Ranasinghe and his wife Kumari Anuradhani were convicted by Colombo High Court Judge Adithya Patabandige for operating a company in the Nugegoda area between November 1, 2006 and September 11, 2008, in violation of the Finance Companies Act.

They were found guilty of accepting approximately Rs. 1.6 billion in deposits from customers and offering returns based on such deposits without proper authorisation.

The court imposed a sentence of one year of rigorous imprisonment for each of the two accused, suspended for a period of ten years. In addition, a fine of Rs. 25,000 was also imposed on each of them.

Published by HT Digital Content Services with permission from Daily M...