Authorized scandal by central bank..!

(Lanka-e-News04.Sep.2013, 11.30PM) Sri Lanka’s biggest scandal started with the fallout of Ceylinco group back in 2008 when the authorities arrested the chairmen of Ceylinco Lalith Kothalawela and his clan over a multibillion scandal. But at the moment the CBSL or the monetary board of Sri Lanka never considered the aftermath could happen due to this spontaneous and foolish act without investigating the single company golden key alone they destroyed the entire group including 10O odd companies including some mega constructions of the company. The best part begins after the arrest most of the attention of CBSL was not with the crisis hit golden card company but with the assets of the group. They freeze the assets of all companies and started to liquidate and started transferring the ownership and managing rights to friends and associates of the CBSL governor and the director of non banking supervision, I want to draw your attention to the members of the monitory board and the appointed Watawala commission to handle this matter. Who were they what is there background was and how many of them were running competitive business and involving situations of this nature. Finally who got cornered and pushed away from all of this were the poor innocent depositors who gave their money to professionals to handle. want you to see who owned the assets of these companies now and their relationship with the CBSL officers and what they have purchased these assets and what price they Have purchase these assets and what has happen to the money. the real truth is this money belongs to the depositors and the shareholders of the company. who are no way involved in the salvaging process of the company? with the supreme authority given by the government to those officials of the CBSL they systematically used this power to under value these assets’ and selling them to the friends and associates of the government of CBSL.as at today most of the friend that come from Malaysia and Sri Lanka to take over Ceylinco group companies are the friends of CBSL and government big shots. I thought of bringing some examples for you to understand the crime committed by

the CBSL officers if they found golden key company why they have to restructure other companies like the finance, Asian finance, Ceylinco developers, Seylan bank, Seylan merchant bank and all that. The reason is they plan to sell these companies to take control of these companies in order to palm these off to their people. what happen to people who invested the money to build these large companies were they given a chance to voice their opinion? Were they given any money from the sale of the shares and the assets of the company? The answer is no. some baboons that come from nowhere are allowed to make decisions and money for all the people who think the CBSL and the government will protect their money. Finally the henchaiyas of the CBSL is enjoying assets of the people of this country Ceylinco Grammen who owns it now? premalal who was the owner of prime lands took over its company after years of crisis however anyone in the industry knew that Celinco Grameen never had an issue with the fall of the ceylinco group. But cbsl made it happen they made sure company collapses and so they could do a deal with a friend of ekanayake who is the director non banking supervision now a known notorious who is supposed to take a vrs and planned to go home. This deal will be revealed in the next letter since this is just awareness and the beginning of the story of the ekanayake of cbsl who is the main culprit behind the scene. Once the deal was done ekanayake issued a warning to other finance companies not to recruit any office form the prime grameen company. There were many finance companies that were facing the problem of head and deposit base hunting by other competitors, but even with complaints ekanayake was silent. But in this case he issued a notice to protect his buddy who made his pocket well Next victim of ekanayake was the industrial finance CBSL knew the deposit run out in the industry was because the stupid move they made against kothalawela clan. But instead of supporting or giving assistance to the companies was to shut them down and then sell them to his friends. Ekanayake gave approval to one upul dezoyza who was a convict of a financial scandal in London. With a one day request and handed over the company along with the management agent plc(peoples leasing company).the main agenda was devaluating the assets of the company and put them on sale they have devalue all the assets and converted 50% of liability to nonvoting shares and the rest for four year fix deposit with four % interest rate so1.5 billion was converted to nonvoting shares and company was handed Over to diresh hettiarachi who is a known loan shark with no back ground of running a finance company. He invested just 100 million rupees and 50 million from PLC took over the controlling interest of the company the depositors were given a share where no value or no vote but the man who invested 100 million was given everything and poor people have to wait and wait. The real story is right after the loan sharks take over the company sold their main office building and some of the large lands they had in the company. They collected a

100million then the loan shark took entire 250 million to his company without any approval signed by himself and another central bank appointed directors within one month of taking over the company. During this period the managing agent was PLC (the so called professional peoples leasing company) and they were silent and ekanayake was silent and everyone was silent and depositors never knew this was happening the asset sold money was not given to the company or was not to the depositors and still the loan shark owns the company NO money infused yet or returned the money hi siphoned out of the company. Ekanayake is silent because he was given 10% of the 250 million rupees the shark robbed from industrial finance to his account in Singapore How can a chairmen of a regulated finance company which managed by CBSL appointed managing agent PLC can siphoned out the only rs 250 million out of the company – “food for thoughts” Now the company is going to take over by another con man called Roshan Egodage, who was the former CEO for Aspic Corporation, the owners of three finance companies previously owned by another con man Deepthi Perera. Central Bank is well aware of the drama of all these companies and now they are in the move to handover this company to Roshan Egodage who had published one billion fake profits in the finance company when he was the deputy CEO and the deputy con man of Kotalawela. And after an investigation the profits were revised. Can you see how vigilant and smart Ekanayake is? This is a man who has no conscience of poor people’s money or rights or their feelings. He is a man who’d go to any extent to destroy companies and hand them over to his friends and take money. Next victim of Ekanayake is the company that just fell - CIFL. Immediately after the successful attack on IFL and assisted siphoned out of 250 million and given to Roshan Egodage Ekanayaka turned to CIFL. He removed Jayantha Wickramaratna who was the CEO in 5 hours without an inquiry. They stopped the business transactions of the company and appointed Gamini Karunatilake as the CEO who ruined Merchant Credit before. Karunatilake knew the agenda of Ekanayake when he planned to give the company to another con man Roscoe Maloney. Monetary board and CBSL gave the approval immediately to Maloney knowing his issues with the mother company Touchwood. How come Ekanayake never checked whether Maloney has money or not prior to hand over companies like CIFL? You will notice the similarity in all the cases 1. Central bank intervention 2. disturbing the operations

3. Liquidity crisis 4. Appointing a managing agent 5. Waiting period for the company to collapse further 6. Handing over to his associate or friend This will be the case with CIFL too. According to the information this company survived 2008 financial crisis without any help from CBSL or from any other financial institution. In 2012, they were doing very well in lending and there were no problems whatsoever. And all the competitors started pulling out cifl marketing staff paying double the salaries and they started to withdraw the deposits of the company. All the attempts CIFL management made to complain this to the Central bank failed because these competitors have well fed Ekanayake. Unlike in Prime Grameen no warnings were issued Ekanayake deliberately let this happen. In December they removed the CEO and imposed restrictions like no marketing, no advertising, and no micro finance lending. Please think on what grounds a collapsing company can get out of a situation with that kind of restrictions. Basically Ekanayake enjoyed the collapse of CIFL. He enjoyed the pain of depositors and their hard earned money. Now his move will be appointing the managing agent and devaluing the assets of the company. So he can create a negative asset value and sell them to his friends or sell the whole thing next to nothing to his associates. And then he will support his associates by capitalizing the depositors’ money and renew them for 4 to 5 years. All the CIFL good marketers were taken over by most of Ekanayake’s associates. Many senior staff of CIFL already joined Prime Grameen and Commercial Credit and other companies. But CBSL never intervened to stop this head hunting of the employees. Basically by all means Ekanayake and the clan enjoyed the watching the fall of the CIFL. If you can contact employees of CIFL they will verify this story. Ekanayake will make sure that the same destiny will happen to CIFL like IFL no one can stop that! Investors’ hard earned money will go for a six. Some con men will come from nowhere and take all the assets for a song. This will be the destiny of CIFL. Are you aware the assets and liability mismatch of ETI (Edirisinghe Trust Investments) Swarnamahal financial services their unauthorized 8 billion deposits, the millions paid to directors on foreign trips, billions of intercompany transactions why central bank Ekanayake is not doing anything? Why no spot audits? Why no managing agents? Why no CBSL appointed CEOs? Why no restrictions? We will bring you all the arrangements by Ekanayake and other finance companies with date’s locations and amounts hunting down poor investors could not last long. Please be united and protect your financial institution from this monster! (Dear investors we are a group of financial and business professionals who are

investigating on sri Lankan business and companies and regulators to educate the general public)