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CID probes Rubber Corp. fraud

by Sarath Malalasekera

The Criminal Investigation Department (CID) yesterday commenced investigations into the alleged massive fraud at the Sri Lanka Rubber Manufacturing and Export Corporation during the past six years, on the directive of IGP Lucky Kodituwakku.

IGP Kodituwakku yesterday said that he directed the Acting DIG CID to inquire into the alleged fraud on the instructions of the Cabinet.

Investigators said Rs.900.34 million had been released by the Treasury to the Rubber Manufacturing and Export Corporation during the last regime. President Chandrika Bandaranaike Kumaratunga was the then Finance Minister.

A sum of Rs.541 million is alleged to have been misused by the officials of the Rubber Manufacturing and Export Corporation. Investigators are trying to ascertain as to what had happened to another Rs.152 million which had not been accounted for, the investigators said.

The Treasury had been allocated this amount of money for the building of a factory in Bulathsinhala. But up to date no construction work had commenced at the site earmarked for the factory building.

The CID had deployed a special team to record statements from several officials of the Rubber Manufacturing and Export Corporation in this connection. The CID special team will also question the company that handled the import of equipment for the proposed factory in Bulathsinghala. 

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