Udaya Gammanpila acquitted in Rs. 21 Million misappropriation case
The Colombo High Court today acquitted and released former Minister Udaya Gammanpila, and businessman Sydney Jayasinghe of charges related to the alleged misappropriation of Rs. 21 million through a fraudulent share transaction.
The case was filed by the Attorney General during the ‘Yahapalana’ (Good Governance) Government, accusing Gammanpila and Jayasinghe of selling shares of a company owned by Australian businessman Brian Shaddick using a fraudulent Power of Attorney.
The prosecution alleged that between September 26, 1996, and September 25, 1997, Gammanpila had purchased shares worth Rs. 21 million of a private bank under the name of Digital Nominees Private Limited, a company owned by Shaddick.
He was accused of misappropriating Rs. 21 million through the sale of these shares using a forged Power of Attorney.
During the trial, the prosecution presented 20 witnesses and 16 documents as evidence.
Gammanpila was arrested in connection with the case on June 18, 2016.
After years of legal proceedings, Colombo High Court Judge Namal Bandara Balalle ruled today that the prosecution had failed to prove the charges beyond a reasonable doubt.
As a result, both Gammanpila and Jayasinghe were acquitted and released.
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