Friday, February 19, 2010

Flagrant violation of Exchange Control Act of Sri Lanka

Minister G.L. Peiris has made some startling revelations about the recovery of foreign currency from four bank vaults of Ashoka Tillakaratne, the mother of Sarath Fonseka's son-in-law.

Addressing a media conference held at the Government Information Department, he said that the 527,000 US Dollars worth of currency notes found were to be crisp, and brand new with the serial numbers in a logical sequence.

This is a flagrant violation of Exchange Control Act of Sri Lanka. A resident of this country can possess only a maximum sum of 2000 US dollars. There is strict money laundering legislature in the country.That is absolutely necessary. What is money laundering? These are laws
which are enforced to prevent money which has been earned in unlawful transactions such as gun running. Money that is made in that way cannot be introduced to Sri Lanka's economy, the Minister said.

Minister Peiris queried as to whether anyone with any sense of responsibility can make a suggestion that with this kind of evidence and the gravity of charges, one should turn a blind eye and refrain from taking action.
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