Namal Rajapaksa indicted for misappropriation of funds

The oldest son of Mahinda Rajapaksa indicted by the Attorney General over the misappropriation of Indian investment into Sri Lanka
The oldest son of Mahinda Rajapaksa indicted by the Attorney General over the misappropriation of Indian investment into Sri Lanka

Sri Lanka’s Attorney General has filed indictments against Namal Rajapaksa, the son of accused war criminal Mahinda Rajapaksa, over allegations of misappropriating an investment from an Indian real estate company.

The indictments were presented before the Colombo High Court on 28th January 2025, alleging that Rajapaksa misappropriated Rs. 70 million, which had been invested by Krish Company for the development of rugby in Sri Lanka. Rajapaksa, a former national rugby player, was accused of diverting the funds for personal use.

The case against Namal Rajapaksa was first raised in 2015 when current minister Wasantha Samarasinghe lodged a complaint regarding the alleged misappropriation of funds provided by Krish Company. The Financial Crimes Investigation Division (FCID) launched an investigation, and its findings were presented before Fort Magistrate’s Court in 2016. At the time, Rajapaksa was arrested as a suspect, brought before the court, and later released on bail.

The Krish Company has been the subject of multiple corruption investigations in both Sri Lanka and India. Amit Katyal, a promoter of Krish Realtech Private Limited, is currently under investigation in India for money laundering charges.

In response to the court action against him, Namal Rajapaksa took to X (formerly Twitter), claiming the indictment was politically motivated and an attempt by the National People’s Power (NPP) government to divert attention from its failures.

“I have read in the media that the Hon. Attorney General has filed an indictment against me in connection with the case involving the Krish company. During the Yahapalayanaya government, when this matter was initially investigated, the matter was referred to the Hon. Attorney General 8 years ago. Today after 8 years under the present government an indictment is filed. It is evident that the present government has launched a political witch hunt against the Rajapaksa family. The NPP government seems to believe that by fabricating allegations against us, they can divert attention from their failures in governing the country and alleviating the serious burdens faced by the people,” he wrote.

Despite the indictment, Namal Rajapaksa remains out on bail as the legal proceedings continue.
 

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