11th April 2016

Panama Papers: Some Sri Lankans also being probed – govt.

11th April 2016 // 0 Comments

By Zacki Jabbar With the so-called Panama Papers taking the world by storm, the government said yesterday that it was examining the dealings of some Sri Lankan politicians and companies with offshore financial dealings. Deputy Minister of State Enterprise Development Eran Wickremeratne told the weekly Cabinet Press Briefing in Colombo, that investigations had led them to Seychelles, where 14,000 shell companies had been incorporated but only 204 real owners had been identified. A Sri Lankan bank had opened a branch in Seychelles and air links had also commenced during the last Rajapaksa government, he noted. Three companies linked to Sri Lanka with 22 shareholders had been discovered, informed sources said, adding that revealing further details would jeopardise ongoing inquiries. Amidst several world leaders being named, […]

Britain highlights lack of land release as ‘major source of discontent’

11th April 2016 // 0 Comments

The British High Commissioner in Sri Lanka spoke on the importance of returning land to its rightful owners at the launch of a British funded documentary and report on the Sri Lankan military’s occupation of land in the North-East. British High Commissioner James Dauris said his government was pleased to support a new report by the Centre for Policy Alternatives (CPA) that found over 12,500 acres of land remained occupied by the Sri Lankan military and called for reparations and the restitution of land to its rightful owners. Also supported by the British was a documentary by Kannan Arunasalam entitled ‘Sampur’, examining the struggle of Tamils in the Eastern Province to reclaim back land occupied by the Sri Lankan military. “Land is deeply and emotionally […]

Bahu certain MAHINDA’s name in Panama Papers

11th April 2016 // 0 Comments

Nava Sama Samaja Party Leader Dr. Wickramabahu Karunaratne is certain that former President Mahinda Rajapaksa’s name to be among three other names of Sri Lankans featured in the Panama Papers revelations, the publication by a coalition of media outlets of an investigation into offshore financial dealings by the rich and famous. “The foreign funds received by the former government for the development of the country were misplaced during the past regime. I am certain that Mahinda Rajapaksa had invested this black money in Mossack Fonseca, to turn them into white money. However Rajapaksa is in hot water as these three names will soon be revealed to the country,” he stressed. He said the propaganda carried out by the “Pevidi Balaya” organisation claiming that the present […]

Waiting for ‘Swiss Papers’

11th April 2016 // 0 Comments

The publication of Panama Papers—some 11.5 million encrypted documents leaked from a Panamanian law firm, Mossak Fonseca, has triggered a mega political tsunami. This phenomenal expose is unarguably the biggest ever boost global war on corruption has so far received. The reputed outfits responsible for blowing the lid off the scandal spanning well over four decades—(the German newspaper) Süddeutsche Zeitung, BBC, The Guardian, the International Consortium of Investigative Journalists and Le Monde––have done the media proud. Among the prominent political figures exposed by the Panama Papers, which have shed light on shadowy financial transactions via shell companies created by Mossak Fonseca, are Argentine President Mauricio Macri, Iceland’s Prime Minister Sigmundur D. Gunnlaugsson, who has resigned following the publication of the Panama Papers, Saudi Arabia’s King […]

The Biggest Leak ever! –Panama Papers!

11th April 2016 // 0 Comments

A machinery adopted by wealthy people around the globe to turn their black money into white money had been come into grips with hackers and was revealed to the world sometime back and since those data have come into the limelight as Panama Secret Documents, efforts taken by the wealthy around the world including Sri Lanka would be exposed in the future, it is reported. Mossack Fonseca, a firm of legal counsellors of Panama and which country is considered as a country which imposes low tax regulations had managed to creep through the freedom afforded laws of their land and had made extended invitations to individuals of numerous countries to join hands with them and  establish companies under various names and to make investments in […]

No action to salvage Rs 2.88 T black money outflows

11th April 2016 // 0 Comments

By Rathindra Kuruwita and Umesh Moramudali Rajith Keerthi Tennakoon is better known as the Executive Director of Campaign for Free and Fair Elections (CaFFE), Sri Lanka’s most outspoken election monitoring outfit. However, in recent months he has been actively campaigning against bribery and corruption and to implement Police reforms. Ceylon Today met Tennakoon to get to know the reasons for his shift of focus. ?: We have known you for a long time as an election monitor. But in recent months you have been campaigning against bribery and corruption. Why the sudden shift? A: I would not call it a sudden shift. Free and fair elections, human rights, rule of law, etc. are all part of a healthy democracy and we can’t have free and fair […]