Video: An illegal foreign currency transfer is confirmed in the exchange scam case against Ravi Karunanayake.
The case against UNP MP Ravi Karunanayake and two others in connection with foreign exchange scam was taken before the Colombo High Court today.
Testifying before the High Court Judge, a witness of the complainant party told that some amount of foreign currency were transferred to this country illegally.
Senior State Counselor Dileepa Peries cross-examined the witness and former Additional Controller of Exchange Kumara Perera during his testifying.
At that point Kumara Perera said that he informed the suspects including Ravi Karunanayake to return the foreign currency which they received contravene to the foreign exchange rules and regulations of the country.
The witness further said that the suspects did not act according his instructions.
The Attorney General has indicted MP Ravi Karunanayake and two others for a foreign currency transaction that they got involved in 2006.
It is reported that the suspects have deposited three million US dollars at three occasions in the Kirulapana Branch of the Standard Chartered Bank in order to buy shares of the Union Bank.
The money has been remitted by American business tycoon Raj Rajaratnam violating the foreign currency regulations in the country.
Raj Rajaratnam is also an accused of a massive money fraud detected by the FBI in the United States.
Charges have been made against Ravi Karunanayake also for his aiding and abetting the foreign currency scam which is a violation of the 7C Clause of the No.24 of the Exchange Control Ordinance of 1954.
Accordingly Ravi Karunanayake has been subject to punish under the Clause 51 of the same Ordinance.
If the suspects found guilty by the High Court in this case, they could be jailed for less than five years and fined three times of the cheated amount of money.