Thico scam: Rs. 3 bn withdrawn from Thilini’s account in six months

The Criminal Investigation Department (CID) yesterday (18) informed Acting Fort Magistrate Shilani Perera that Rs 3 bn in an account maintained by Thilini Priyamali, Proprietor, Thico Group of Companies, had been withdrawn between January and June 2022.

The Court was also told that there had been seven other cases before the High Court, and Magistrate Courts, as well against Priyamali arrested in the first week of this month on a complaint made by businessman Kamal Hassen.

The suspect was produced in Court yesterday (19) along with Isuru Bandara, described as a partner under investigation for his involvement in fraudulent financial transactions.

After hearing submissions made by the CID, and lawyers, appearing for the affected parties, the Acting Magistrate remanded them till Nov. 02 pending further investigations.

The CID told Court that investigations had not revealed the earnings of Thico Group of Companies, though the maintenance of its World Trade Centre office cost the group Rs 4.1 million per year.

Thilini Priyamali and Isuru Bandara were produced in Court over collecting large sums of money, promising high returns for the investments. Among those who had been tricked were politicians. However, many victims had been reluctant to lodge complaints with the police.

Attorney-at-law Roshan Dehiwela, Counsel for Isuru Bandara, said that though the CID alleged his client was a director of Thico Group of Companies the police failed to produce any documents to prove their allegations. Lawyer Dulan Mirihana also appeared for him.

Counsel for Thilini Priyamali, Attorney-at-Law Dasun Nagahawatta, and Rakitha Rajapaksa, accused the CID of exaggerating allegations against their client.

They moved Court to grant bail to their client as charges levelled against her were bailable offences. Nagahawatta tendered in Court several documents to support that his client paid taxes and operated a lawful business.

President’s Counsel Maithri Gunaratne, appearing for an aggrieved party, said the CID should initiate investigations to arrest a woman, named Janaki Siriwardena, who had allegedly introduced businessmen to Thilini Priyamali. Siriwardhana was identified as Chief Executive Officer and Director of the One Transworks Square (Pvt.) Limited