Lalith Kotelawala
| Lalith Kotelawala | |
|---|---|
| Born |
Jeewaka Lalith Bhupendra Kotelawala 29 October 1938 Colombo, Sri Lanka |
| Other names | Lalith Kotelawala |
| Alma mater | Royal College Colombo |
| Title |
Deshamanya Deshabandu |
| Criminal charge | Financial Fraud |
| Criminal status | Remanded by the Mount Lavinia Magistrate’s Court ruling |
| Spouse(s) | Sicille Kotelawala |
| Parent(s) | Justin Kotalawela, Millicent Kotelawala |
| Relatives |
John Kotelawala Sam Peter Christopher Fernando |
| Conviction(s) | fraud |
Deshmanya DeshabanduJeewaka Lalith Bhupendra Kotelawala is a Sri Lankan businessman, who was the chairman of Ceylinco Consolidated. He was listed in 2007 Sri Lanka Richest List. He was remanded for the misappropriation of 26 billion rupees of investments from the failed Golden Key Credit Company.
Born to Millicent Kotelawala and Senator Justin Kotalawela a Ceylonese politician and businessman, he was educated at Royal College, Colombo and studied chartered accountancy in the UK. He is the nephew of Sir John Kotelawala, the third Prime Minister of Ceylon.
Taking over Ceylinco Consolidated from his father in the 1960s, Kotelawala expanded the group into new fields including banking, non-banking finance, investment banking, housing and property development, travel and leisure, communication & information technology, education and healthcare and, more recently, microfinance. He also founded a peace initiative in Sri Lanka, three years after being wounded in an LTTE attack in 1996.
Following the collapse of the Golden Key Creditcard Company, which was affiliated with Ceylinco Consolidated, Kotalawala who was the Chairman of the company was accused of misappropriation and Financial mismanagement. He was remanded on February 26, 2009 by the Mount Lavinia Magistrate and an ultimatum was issued to settle the Rs. 26 billion deposits of Golden Key Creditcard Company customers in 10 days. Weeks earlier the CEO Khavan Perera, the CFO, and several other directors were remanded by the same Magistrate. In March the Magistrate refused to consider the application for bail on the grounds that the matter was under consideration in an ongoing high court case. Kotelawala was moved to the prison hospital.
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