Published On: Tue, May 10th, 2016

SL domiciled individuals revealed in Panama Papers

panamaThe names of several Sri Lanka domiciled individuals, including Nissanka Senadhipathi of Avant Garde, have been disclosed in the Panama Papers released on the Internet on Monday.

According to documents leaked from the Panamanian law firm Mossack Fonseca, Senadhipathi incorporated an offshore company in the British Virgin Islands with three others.

The four shareholders of the Avant Garde offshore operation are: Yapa Hetti Pathirannahalage Nissanka Yapa Senadhipathi, Senerath Bandara Dissanayake, Prasanna Athanasius Sirimevan Rajaratne and Y. H. P. Kithsiri Manjula Kumara Yapa.

It was Mossack Fonseca’s Singapore operation which helped Avant Garde set up its offshore operation in British Virgin Islands.

Finance Minister Ravi Karunanayake announced last week that the government was setting up a special panel to chase after nationals likely to figure in the “Panama Papers”, a trove of leaked documents on global tax evasion.

The government, which came into power in January last year on a promise to clean up corruption, has accused former president Mahinda Rajapaksa, his family and their friends of siphoning off billions of dollars during his decade in power – a charge he has denied.

Avant Garde’s Senadhipathi is already under investigation for money laundering, a charge he has denied.

Finance Minister Karunanayake said Colombo would investigate “each and every Sri Lankan” whose names will figure in the Panama Papers which became publicly available from the night of May 9.

He accused the former government of failing to look into 46 Sri Lankans whose names came up in a 2013 probe known as Offshore Leaks by the International Consortium of Investigative Journalists (ICIJ), which is also behind the Panama Papers.

About 11.5 million leaked documents from Panamanian law firm Mossack Fonseca revealed the large-scale use of offshore entities to conceal assets from tax authorities.

Here are the Sri Lanka domiciled individuals:

Kenneth John Pendigrast
Yapa Hetti Pathirannahalage Nissanka Yapa Senadhipathi
Mohamed Siddeek Mohamed Ali
Senerath Bandara Dissanayake
Min Xuan
Jayakody Arachchige Dona Marian Srini Pamela Jayakody
Palavinnege Sumith Cumaranatunga
Prasanna Athanasius Sirimevan Rajaratne
Tristan Laurens Bernard
Nicola Dawn Hakansson
Michael Robert Nasmyth MacPherson
Aroon Hirdaramani
Mona Hirdaramani and Aroon Hirdaramani as Joints tenants with Rights of Survivorship
Arun Prakash Mahtani
Mukesh Khubchand
Ng Yin Peng
Simon Finch
Y H P Kithsiri Manjula Kumara Yapa

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