The Colombo High Court today acquitted former Minister Udaya Gammanpila and businessman Sidney Jayasinghe of charges of criminal misappropriation involving Rs. 21 million through the sale of shares owned by an Australian businessman using a forged Power of Attorney.
Colombo High Court's Presiding Judge Namal Bandara Balalle delivered the ruling after a lengthy hearing, stating that the defendants would be acquitted and released as the prosecution had failed to prove the charges beyond a reasonable doubt.
The Attorney General had filed the case against Gammanpila and Jayasinghe during the previous Yahapalana government, alleging that between September 26, 1996, and September 25, 1997, 21 million shares of Pan Asia Bank, purchased by Australian businessman Brian Shadick under the name Digital Nominees Private Limited, were misappropriated by preparation a forged Power of Attorney.
Colombo High Court's Presiding Judge Namal Bandara Balalle delivered the ruling after a lengthy hearing, stating that the defendants would be acquitted and released as the prosecution had failed to prove the charges beyond a reasonable doubt.
The Attorney General had filed the case against Gammanpila and Jayasinghe during the previous Yahapalana government, alleging that between September 26, 1996, and September 25, 1997, 21 million shares of Pan Asia Bank, purchased by Australian businessman Brian Shadick under the name Digital Nominees Private Limited, were misappropriated by preparation a forged Power of Attorney.
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