Scandal rocks Golden Key

Chief Executive Director under CID scrutiny:

Hiran H. Senewiratne

The Golden Key Credit Card Company Limited, one of the subsidiaries of Ceylinco Group of companies has run into a crisis following the mismanagement of the company and credit card fraud during the recent past.

Director Ceylinco Group Ajith Gunawardena

Chief Executive Director (CED) Khavan Perera was asked to resign from his position by Ceylinco Group Chairman Lalith Kotelawela following the revelation of mismanagement of the company and fraud. Perera’s passport has been handed over by him voluntarily, its sources said.

Director Ceylinco Group Ajith Gunawardena told the Daily News Business that all the depositors/credit card holders have been asked to come to BMICH today to discuss the issue encountered by them and Perera will be produced before the Criminal Investigation Department to institute actions against him.

Since Perera admitted that he was involved in the scandal he will have to face legal implications following a CID investigation, he said. Perera also resigned from the Directorates of Seylan Bank and The Finance Company with the revelation of the card fraud, Gunawardena said.

One of the expatriates from Germany who sold her all the properties in Germany deposited Rs. 5.7 million with the Golden Key Credit Company is one of the worried depositors. She said when she went to collect interest from the company she found out that it was having some problem.

She said the money was her life savings and she deposited under a fixed deposit scheme at 26 per cent interest.

Another local depositor called the Daily News Business and expressed similar sentiments. He said that he had invested Rs 3 million but was hopeful that he would get the money back since the parent company is feeding all sick entities under its wing. Unlike other finance companies not approved by the Central Bank, the Ceylinco has a high liquidity ratio and a great asset base with the company.