The Colombo High Court today (24) ordered the acquittal and release of former Minister Udaya Gammanpila and businessman Sidney Jayasinghe, who was accused of embezzling Rs. 21 million by selling shares of a company owned by an Australian businessman Brian Shaddick, using a forged power of attorney.
The verdict was delivered by Colombo High Court’s Presiding Judge Namal Bandara Balalle after a lengthy hearing.
The judge stated that the defendants were acquitted as the prosecution had failed to prove the charges against them beyond a reasonable doubt.
The Attorney General had filed the case during the previous Yahapalana government, alleging that Udaya Gammanpila and Sidney Jayasinghe had misappropriated Rs. 21 million by preparing a forged power of attorney and selling 21 million shares of a private bank. These shares had been purchased by an Australian businessman, Brian Shaddick, under the name of Digital Nominees Private Limited between September 26, 1996, and September 25, 1997.
