Rajapaksa assets to be forfeited?

FRIDAY, 05 FEBRUARY 2016

All assets belonging to Mahinda Rajapaksa family could be confiscated if money laundering charges against Yoshitha Rajapaksa and the group are proved say reports.

This is the sentence for those who are found guilty on charges under Money Laundering Act. Legal experts say this state occurs due to Yoshitha Rajapakaa being not given any part of the family assets and as he is still remains a bachelor.

It is also revealed that there are suspicious moves of receiving money by ‘Siriliya Saviya’ NGO maintained by Ms. Shiranthi Rajapaksa.

A large amount of money has been received by CSN channel and ‘Siriliya Saviya’ NGO and it is suspected whether black money from foreign accounts have been sent here in a bid to make it legal.

According to the 3rd clause of Money Laundering Act any person who ‘receives, possesses, conceals, disposes of, or brings into Sri Lanka, transfers out of Sri Lanka, or invests in Sri Lanka, any property which is derived or realized, directly or indirectly, from any unlawful activity or from the proceeds of any unlawful activity’ is ‘ liable to a fine not less than the value of the property in respect of which the offence is committed and not more than three times the value of the property in respect of which the offence is committed or to rigorous imprisonment for a period of not less than five years and not exceeding twenty years, or to both such fine and imprisonment. The assets of any person found guilty of the offence of money laundering under this section shall be liable to forfeiture in terms of Part II, of this Act.