Sri Lanka arrests SEC official over alleged mis-use of funds

ECONOMYNEXT – Sri Lanka’s police has arrested Securities Exchange Commission and a director of a sports television channel over the alleged mis-appropriation of funds of the regulator.

The state information office said former Deputy Director General of the Securities and Exchange Commission Dhammika Perera and Ronny Ibrahim were arrested and remanded till December 07.

Sri Lanka’s financial crimes police had been probing the alleged mis-use of a five million rupees of SEC funds to fund Tharunayata Hetak, an organization connected to ex-President Mahinda Rajapaksa’s son Namal Rajapaksa.

There were questions over the purpose and the actual disbursement of funds.

Ronny Ibrahim was an official at Carlton Sports Club. The sports club and Carlton Sports Network, a television channel which was also connected to the Rajapaksa family conducted rugby tournaments among other activities.

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