NewsThe High Court of Colombo earlier yesterday made an order extending the earlier order made last week by the Director of the Financial Investigation Unit of the Central Bank freezing all bank accounts of 24 companies of the Perpetual Treasuries Group LD companies. The application made by the Attorney General on behalf of the Criminal Investigation Department. These measures are aimed at ensuring that Perpetual Treasuries Limited or other parties acting in concert with it, do not transfer our money derived out of transactions involving illegally acquired Treasury Bonds. Thus, the future efforts of the Attorney General to have the proceeds of crime confiscated and forfeited to the State will not be frustrated as the monies in the frozen accounts will remain intact. This decision will increase the confidence of the initiative to bring the perpetrators of the financial crime related to the Treasury bond issuance before law and recover the losses to the state.

Source: Sunday Times February 02, 2018 05:15 UTC