Funds flowed to CSN from Seychelles

by Ashanthi Warunasuriya-Sunday, May 29, 2016

Funds had flowed into the Carlton Sports Network (CSN) from accounts in Seychelles, Government sources said based on ongoing investigations.

A company had been formed in Seychelles to transfer the funds to CSN when former President Mahinda Rajapaksa was President. Investigations have also revealed that funds had been transferred to the company in Seychelles from other countries as well.

A foreign investor had looked to purchase shares in CSN through the company, sources said. The transfer of funds to CSN from Seychelles had been carried out through the HSBC bank and the Bank of Ceylon which has a branch in Seychelles. Investigations further revealed that a relative of former President Mahinda Rajapaksa had carried out the transactions on behalf of CSN. The police Financial Crimes Investigations Division (FCID) is meanwhile investigating the alleged deals carried out by the relative of the former President.

When contacted, Justice Minister Wijeyadasa Rajapakshe said that the deals involving CSN are under investigation.

He said that officials connected to the deal will also be investigated and legal action will be taken.

Seychelles is known to be a destination used by the Rajapaksa family to carry out some of their deals. The Sunday Leader recently reported how several projects launched in Seychelles by former President Mahinda Rajapaksa during his tenure, are on the brink of closure.

Bank of Ceylon (BOC), Sri Lanka Insurance, Mihin Lanka and Nawaloka Hospital opened their respective offices coinciding with Rajapaksa’s visit to Seychelles in June 2014.

However, the High Commissioner for Sri Lanka in the Republic of Seychelles, Tikiri Herath Gunathilaka, had said that despite some of Rajapaksa’s pet projects closing down, many other Sri Lankan companies were interested in commencing operations in Seychelles.