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Friday, June 21, 2024

Court Orders Full Report on Onmax DT Financial Fraud Case

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Colombo Chief Magistrate Thilina Gamage has ordered the five accused directors involved in the Onmax DT financial fraud case to immediately submit a comprehensive report detailing all the depositors and their respective deposits to the Financial Crimes Investigation Division of the Criminal Investigation Department (CID).

The Magistrate also directed the CID to provide a report to the Court on the number of depositors and the amount each has invested in the institution. Additionally, the Court instructed the CID to collaborate with the Central Bank to develop a plan for repaying the affected depositors and submit this plan to the Court.

Warrants have been issued for the arrest of three defendants who are currently absconding. During the proceedings, the Court considered the arguments presented by the lawyers for both the aggrieved parties and the suspects.

Anuja Premaratne, PC, representing the Respondents, informed the Court that 244,689 individuals had deposited money with the institution, and USD 83 million had already been repaid to them. However, there are still 61,206 depositors awaiting payments totalling USD 18 million. He requested the Court to lift the Prohibitory Order on the institution’s assets, as the current restrictions hinder the repayment process.


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