Colombo High Court Judge Namal Bandara Balalle has imposed a fine of Rs. 1.8 million each on Chandana Weerakumara, also known as 'Sakwithi Ranasinghe,' and his ex-wife Kumari Anuradhani.
The judgment follows their guilty plea to charges of operating a company in violation of the Financial Companies Act and aiding and abetting it.
Judge Balalle has mandated that if the fine is not paid, the defendants will face 24 months of rigorous imprisonment.
The legal proceedings originated when the Attorney General assigned the case to the defendants in 2006, accusing them of running a financial company without the approval of the Central Bank of Sri Lanka. President's Counsel Jayantha Weerasinghe and Senior Counsel Gamini Alwis, representing the defendants, presented the case's facts during the proceedings.
