Deputy Speaker accused of committing fraud in the stock market
The Securities and Exchange Commission (SEC) has decided to probe the complaints of Deputy Speaker Attorney Chandima Weerakkody using his political powers in purchasing stocks in the Colombo Stock Exchange.
Wednesday, 20 June 2012
The SEC has already informed the Deputy Speaker of the inquiry.
A senior SEC official said that the Commission has received many complaints that the Deputy Speaker had used undue political influence when purchasing stocks.
Many politicians have a few months back purchased shares in the stock market using political influence in a fraudulent manner. MP Namal Rajapaksa has invested millions in the stock market in such a manner.
However, the monies invested by him have not brought good returns, it is learnt.
However, SEC Chairman Thilak Karunaratne has received Presidential approval to probe the Deputy Speaker.
