Sri Lanka trying to seize illegal cash parked in Dubai accounts: minister
ECONOMYNEXT – Sri Lanka is probing at least eight bank accounts connected to figures in the last administration in a bid to seize them, Cabinet spokesman Rajitha Senaratne said.
The government is probing the accounts with the assistance of the United States, which tracks movement of dollar denominated funds, he said.
According the information one account at 1.8 billion US dollars, another 1.08 billion and another 500 million dollars. Senaratne had said earlier that some of the funds had been moved to a third country.
Asked whether Dubai had legal framework allowing such money to be seized and returned to a foreign government, Senaratne said there were no specific laws money in that country but neither was there any laws that prohibited such action.
Therefore the government was hoping to take action to seize the money once enough evidence had been gathered, he said.
However there had been complaints that detailed revelations in the media were hampering investigators and he did not want to reveal too many details.