Foreign exchange scam case reveals that Ravi Karunanayaka and Raj Rajrathnam spoke over the phone.
It was revealed today that Ravi Karunanayake had telephone conversations with American billionaire Raj Rajarathnam intending to commit a mass scale financial scam.
Testifying before the Colombo High Court, former Exchange Controller Sisira Kumara Perera said Ravi Karunanayake has engaged in telephone conversations with Raj Rajarathnam about the transaction and how it should be executed.
According to a pre-plan and a request by the respondents including Ravi Karunanayake, Raj Rajarathnam had remitted 3 million US dollars to Sri Lanka.
The plan and the request by the respondents were well proved by the statements and documents submitted to the court by second respondent Lincoln Piyasena and Third respondent Ravi Karunanayake.
The witness said that the said amount of money were remitted in contravene to the Gazette notification issued by the Exchange Controller regarding investment schemes at the Stock Exchange.
Obtaining further evidence in connection with the case it was postponed until November 4th.