SLC CFO further remanded

The Chief Financial Officer (CFO) of Sri Lanka Cricket Piyal Nandana Dissanayake, who was arrested on alleged financial fraud, has been remanded until November 15 by Colombo Chief Magistrate’s Court.

When the case was taken up before Colombo Chief Magistrate, Lanka Jayaratne yesterday, the CID had requested the Magistrate to issue the necessary orders to conduct investigations on several bank accounts, including an account which belongs to defendant’s wife.

Accordingly, the Magistrate ordered the CID to conduct investigations on a total of 19 bank accounts.

During the proceedings the Counsel representing the SLC’S CFO requested bail for his client.

However, the suspect was ordered to be further remanded by the Magistrate.

Piyal Nandana was arrested on October 22 following a complaint lodged by the SLC to the FCID and the Inspector General of Police (IGP) had handed over the complaint to the CID.

The arrest of the SLC CFO is related to an alleged financial fraud, which was disclosed last September.

The SLC had managed to successfully prevent the fraudulent attempt to transfer US$.5.5 million of SLC’S Media Rights sponsorship funds, which was due from an international media network, to an offshore account.

The SLC had identified CFO Nandana as the prime suspect, who had claimed that his e-mail account had been hacked and sent the request to transfer the money to an offshore account. He was sent on compulsory leave.

The money was one of the three tranches coming from Sony Picture Networks for broadcast rights of the England tour.