DailyMirror.lk:
The Criminal Investigation Department (CID) had begun an investigation into the alleged misappropriation of Rs.260 million at Lanka Electricity Company (Private) Limited (LECO).
The CID told the Colombo Fort Magistrate that Secretary to the Ministry of Power and Energy Mr. M.M.C. Ferdinando had lodged a written complaint with the CID regarding an alleged misappropriation valued at Rs.260 on November 24, 2010. In the complaint he had alleged that several properties purchased by LECO had incurred losses to the tune of Rs. 260 million. The CID told court that they had already recorded statements from several witnesses in this regard.
Court also heard that several employees of LECO had also a complained to the Commission to Investigate Allegations of
Bribery or Corruption about the alleged misappropriation of funds. According to the complaint, the former chairman of the LECO and its administrative officials were alleged to have defrauded monies belonging to Lanka Electricity Company (Private) Limited.
Having heard the submissions, Magistrate Ms. Lanka Jayaratne ordered the CID to file a progress report into the case in Court on February 23. Lanka Electricity Company (Private) Limited (LECO) is a private limited liability Company registered under the Companies Act No.17 of Sri Lanka.