Sunday Island 03/01/10
The delay in selling Kotelawala’s shareholdings in several companies, including Seylan Bank, to raise big bucks has also come under flak with Ms. Hapugoda saying the Central Bank has not been able to go beyond a 100,000 rupee repayment so far.
"What about the assets and properties of Golden Key Deputy Chairman/CEO Kavan Perera and other directors who were equally responsible for the debacle?", she asked. "Those in authority talk of only Kotelawala’s wealth".
"It was the Golden Key Deputy Chairman/CEO who was directly accountable for the investments of depositors", she noted. "But, no action has been taken so far to seize his assets in terms of the law".
It transpired in court that a female director, who is still on remand, owes the company 144 million rupees on a credit card given to her by Kavan Perera, Ms. Hapugoda said. "She had also travelled to Australia with him many times".
The CID found gold jewellery worth millions of rupees in Perera’s office safe, she said. "Why cannot this gold also be auctioned to raise funds to settle depositors?"
She said that even after some directors were released on bail, the Central Bank is still struggling to raise funds to repay depositors. "There was only 700 million rupees available at the time the first part repayments began".
"After the second round with a maximum ceiling of 100,000 rupees is completed, there won’t be any more money left".
Ms. Hapugoda said that a fresh order to seize the assets of directors will be sought when the case resumes before the Supreme Court on January 13, 2010.
Golden Key takes its 11th victim
Jan 6 (BL) Nearly one year after the Golden Key Credit card fiasco which caused a ripple effect in the country’s banking and finance sector, over half a millions depositors around the island are still without recompense. President of Golden Key Depositors Association, Anusha Emmert, told The Bottom Line that so far 11 depositors had lost their lives in the aftermath of the Golden Key scandal, directly or indirectly impacted by its fallout.
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