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Golden Key Fraud in Sri Lanka
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NonResident
Joined: Jan 2009
Posts: 18
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 17 Feb 2009 14:54:57 GMT Report for Abuse
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| I thought we lived in a country where the same rule of law applied to all and everyone is measured with the same yardstick! Furthermore under article 12 of the constitution everyone is equal before the law (equality). |
Depositor
Joined: Feb 2009
Posts: 2
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17 Feb 2009 15:21:18 GMT Report for Abuse
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NonResident,
Your previous post on the numbers is interesting. Describe astronomical nature of biggest fraud.
I copied this quote from ceylinco website. very interesting
reading
'Ceylinco Consolidated has become synonymous with caring and social responsibility. Ceylinco marches forth into the new millennium to improve and expand its activities, in line with its mission of 'providing protection and financial security of the highest quality to society'.
This biggest fraud give clear idea of caring and social responsibility. Also don't forget the FINACIAL SECURITY OF HIGHEST QUALITY TO SOCIETY.
From you posting it is aware Sri Lanka Madaff has got free money from the society he cares with social responsibility to be repaid over more than 40 years, when the poor people who put the money is suffering and gathering in temples and protesting. This is Sri Lanka Madaff Financial security of highest quality to society (poor people). When all this is happening his wife is out of country enjoying in Bangkok/Singapore staying away from court and spending poor people's robbed money. His lawyer former attorney general who is also paid with poor peoples robbed money is defending Sri Lanka Madoff against the very same people Sri Lanka Madoff robbed. This is state of play in Sri Lanka.
I hope all the people in Sri Lanka get to read all this postings including President and ministers and Attorney General to understand real plight of depositor and suffering of Depositor by this Sri Lanka Madoff lalith kothalawela who must only person in history of Sri Lanka to have robbed and is negotiating with robbed people through the AG department to pay back robbed money over very long period of time. This is frustrating country with all curruption.
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UKResident
Joined: Feb 2009
Posts: 5
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 18 Feb 2009 11:03:36 GMT Report for Abuse
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Another Golden Key style Fraud
Billionaire financier and cricket entrepreneur Sir Allen Stanford has been charged by US regulators over an alleged multi-billion dollar fraud.
'Stanford and the close circle of family and friends with whom he runs his businesses perpetuated a massive fraud based on false promises and fabricated historical return data to prey on investors,' an SEC spokesman said.
Regulators claim Stanford International Bank, through a network of advisers, sold 8bn ( 5.62bn) worth of so-called 'certificates of deposit' to investors promising 'improbable and unsubstantiated' high returns.
Buyers of these CDs were told these deposits were safe, it is alleged.
Stanford has been placed under a temporary restraining order and has had his assets frozen. The Texas-born businessman currently holds dual citizenship with Antigua and Barbuda.
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Zazmalin
Joined: Jan 2009
Posts: 42
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 18 Feb 2009 11:18:17 GMT Report for Abuse
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Huuu Huu Lalitha K...Huu Huu....
Lalitha K though he is the man and he can play with JHU and Wimal W and Mihand R. What do we care abouth the 30,000 jobs you have, you and you companies will go down and the 30,000 can join with Mihand R, cause he have already created 100,000 new vaciences. Sat 400 New Jobs..today 37 New Jobs...selanga d kollo???
You wanted to be special.....Pauuu than ithing ISSpecial..thami....Kohomer dapay Wimal Aiyagay Molay??? |
paulson
Joined: Dec 2008
Posts: 11
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 19 Feb 2009 15:33:20 GMT Report for Abuse
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| The companies like Golden Key of Sri Lanka, Satyam of India and Stanford of US have just one objective, somehow pocket public funds ! In the case of Golden Key, the Finance Director and a battalion of his friends (CED/CEO of CCEL/GKCP/CNT) flying to Singapore, Hong Kong and China in business class of Singapore Airlines without any reason but to claim overseas allowance of US$200 per day in as early as 2001 ! It goes without saying, all these people had blessing of Golden Key Dy. Chairman. I also know the monthly telephone (mobile) bill of the CCEL Executive Director is more than 300,000 rupee per month in order to qualify for free gift from dialogue GSM ! I hope the investigating authorities are listening to all these postings and take necessary action so that this kind of fraud will not happen in future. |
NonResident
Joined: Jan 2009
Posts: 18
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22 Feb 2009 13:25:58 GMT Report for Abuse
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Paulson,
I am sure the investigating authorities are all aware of the shady operations (some of them I understand were taken care of by the Ceylinco Consol Group). The big question is - Will they act in an impartial manner to bring to book the real Culprit/Culprits?
I am not sure this will be the case, as, already the story has gone under the carpet. I am sure Lalith K and his set of cronies will keep lobbying at the highest levels to keep this 'Story of the Century' under the carpet, whilst the victims(depositors) will end up praying to God Almighty for a devine intervention by way of a miracle!
Lalith K and his cronies will continue unfettered busting the remaining replenishing any remainng assets. All this will happen whilst they are perportedly negotiating a payoff mechanism. |
upananda7
Joined: Feb 2005
Posts: 17
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 22 Feb 2009 13:46:31 GMT Report for Abuse
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| I strongly feel that depositors should get together and petition to the Supreme Court in respect of violating their human rights by law enforcement and Attorney General by not taking action against the criminals as usual. Well wishing honest lawyers should help the depositors to complete this task without charging any fee. When there are proposal to set up independent trust in order to mobilize funds to repay to the depositors, I don't see any reason DSG not to take appropriate action against culprits in a normal way applies to any other citizen in Sri Lanka. |
NonResident
Joined: Jan 2009
Posts: 18
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22 Feb 2009 14:37:07 GMT Report for Abuse
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| The best approach is all assets of the Directors of the Company should be frozen and mandatorily transfered to a trust to be managed by a group of independent professionals, for the benefit of the depositors. This includes all the assets of Lalith K. This also means all companies currently controled by Lalith K will be managed and controled by this trust. All Lalith K's cronies who had acted directly or indirectly to bring down Golden Key should be restrained from using a single penny out of the identified companies. As a deterrent to others who are either doing a similar operation or who intend to do a similar operation in the future all directors of GK should be remanded indicted expeditiously, for fraud charges including criminal breach of trust. |
paulson
Joined: Dec 2008
Posts: 11
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24 Feb 2009 10:16:54 GMT Report for Abuse
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NonResident,
You are absolutely right. The best way to compensate depositors is to freeze entire asset of all the GK group directors. Though, most of the directors have purchased assets or invested in their friends and relatives name,government should thoroughly investigate this angle and annexe their property. |
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22 Feb 2009 23:40:21 GMT 