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An ugly deed by the AG |
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2009-07-24 | 10.45 AM |
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Depositors of Finance and Guarantee Company claim that current Attorney General Mohan Peiris, who was earlier the legal advisor to the crisis ridden financial institution, has not done justice by them.
The depositors of the Finance and Guarantee Company, a member of Ceylinco Consolidated, yesterday (22) held a protest opposite the company office demanding their money back.
Over 12,000 depositors have deposited monies amounting to Rs. 13 billion with the respective financial institution. Although legal action has been instituted against Ceylinco’s Golden Key Company, no action has been taken with regard to the Finance and Guarantee Company. |
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The depositors say that while the financial fraud of the Company was revealed seven months ago, the report of the CID’s three month inquiry into the issue has also been submitted to the Attorney General. In fact, the report is said to have been given to the Attorney General several months back.
Depositors allege that the reason for the Attorney General not to institute legal action against the Company is due to the role played by him as the legal advisor in the Company’s board of directors before assuming his new office.
Legal sources say that since the judgment of many of the cases the Attorney General appeared before assuming the new post are still pending, if he acts in a manner similar to that of the Finance and Guarantee Company, the people’s trust in the judiciary as well as the independence of the judiciary would be in grave danger.
Legal sources further noted that it has been normal practice to appoint a senior state counsel as the Attorney General instead of a lawyer who has appeared for clients in order to avoid conflict of interests.
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