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Sri Lanka court extends freeze on Perpetual group bank accounts

ECONOMYNEXT – A court in Sri Lanka extended freeze on bank accounts of Perpetual Treasuries and related companies that were involved in a securities scam involving rigged bond auctions and dumping of pumped up securities on state managed funds.

Colombo High Court has extended an order originally issued by the Financial Intelligence Unit of the Central Bank by 30 days, the President’s media office said in a statement.

"This was done to prevent Perpetual Treasuries or any other parties who are acting as nominees from passing the money onto others," the statement said.

"Due to this action, money earned through criminal means will be protected so that they can be confiscated by the government."

A commission of inquiry appointed by President Maithripala Sirisena has recommended that Perpetual Treasuries be find twice the loss caused by a bondscam in February 2015 and also other ill-gotten gains earned later. (Colombo/Feb01/2018)

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