‘Divi Neguma’ Funds Siphoned Off To Bail Out Cash-strapped Newspaper Companies

It has been revealed in police investigations that a large amount of ‘Divi Neguma’ funds have been used over the past five years to fund news paper companies affiliated with the former first family.

Police Financial Crimes Investigations Division (FCID) is now conducting inquiries into the utilization of ‘Divi Neguma’ funds which came under the purview of the Economic Development Ministry headed by Basil Rajapaksa. The former minister is presently in remand, along with three other senior officials of the ministry, over misappropriation of ‘Divi Neguma’ funds.

The investigations revealed that a large amount of ‘Divi Neguma’ funds had been siphoned off on a monthly basis to bail out some cash-strapped news paper companies that allegedly belonged to close associates of the Rajapaksa family; FCID sources told Asian Mirror yesterday.

Speaking to Asian Mirror a senior officer of the Police Department said the owners of those newspaper companies would be summoned by Police soon to obtain statements in this regard.

“ Some individuals who claim to be the owners of those newspaper companies are presently overseas. We have credible information that they merely acted as proxies of the former first family in the newspaper industry. However, these transactions had taken place in a shady manner, without any standard procedure” he also added.

The Rajapaksa family came under criticism from various quarters for buying over independent newspaper companies through proxies.

 

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