CIFL crisis points to Central Bank’s failure

shehani.perera.1612 · 21 Re: CIFL crisis points to Central Bank’s failure Sun Aug 18, 2013 3:36 am

shehani.perera.1612

Equity Analytic

Posts : 38
Join date : 2013-08-18

@Jana1 wrote:

@Wayne Abbott wrote: Good Morning Chinwi

They are diluting all assets via Deepthi Perera and Roscoe Maloney out of Aspic thereby they shoved me into a bogus illegal shareholding of Aspic when I purchased CIFL in 2004 to enable them to dilute Aspic with nothing left for myself.
This is a criminal and illegal in any Business society in the world,the company CIFL recognized by Central Bank has a obligation to correct and reimburse my funds also to bring these criminals to justice.
Regards

Wayne Abbott

Hay Wayne,

Since you know that you were perfectly cheated-in your opinion, why are you reluctant to take legal action against them? I guess you have Australian parliamentarian in your pocket. Your drama started in 2004, still you haven't received anything.. You simply keep silent for nine years and start shouting when the ship has almost sank.. May be your action could help other poor investors in Sri Lanka since they could start another drama..

Dear Mr. Wayne,

I thought of writing this because I was the one who handle your File the at the company secretaries of Aspic, If you remember i Met you in Gall Face Hotel during the Second AGM of the Company, I thought of replying because your comments effects the investors who believe Sri Lankan Business and the System here. I remember that you insisted that you wanted the Shares in ASPIC by looking at the assets on those days. You first invested as a Loan to ASPIC and later once you saw the Financials you wanted the Shares. The we obtained the BOI approvel for you. You received the Letters from BOI ad you have participated 3 AGM's and were a director for 3 Years Until you had an issue which i dont want to mention in this forum because I respect your privacy. And we received a letter from you through a German Solicitor to Sell your Shares but later there were no response from you. And last January we arrange to sell your Shares along with Mr.Deepthi Perera to the New Investors we have sent you all the paper work along with Agreements through our lawyers, You agreed to the Transaction and with out Signing any paperwork you wanted the Money to be deposited to your account which was later revealed it was closed by the Bank. And as at Date after 6 Months of the transfer date you still keep the paperwork with you after many E mails both from us and the lawyers in Sri Lanka with out sending back. Now the New Share Holders are Mr.Maloneys and they have the Controlling Power. And you never send the paperwork back to the Lawyers to finalize the Transaction. With out doing that you write here about receiving Nothing and all other dramatic stories blaming everyone. Sri Lanka is a better country than what you think of. Please stop blaming Authorities or other personal involve in your services when you dont fulfill your duty. You was offered and you agreed the Sale of your Share, once we completed the paperwork and sent to you, you kept them for 6 months, and you are still keeping them. I dont know what you are expecting????

m2_yapa · 22 Re: CIFL crisis points to Central Bank’s failure Sun Aug 18, 2013 11:49 am

m2_yapa

Senior Manager - Equity Analytics

Posts : 432
Join date : 2011-06-01

Wayne Abbott ge redda galawila bimatama watuna wagei!

NUINTH · 23 Re: CIFL crisis points to Central Bank’s failure Sun Aug 18, 2013 1:10 pm

NUINTH

Senior Equity Analytic

Posts : 86
Join date : 2012-05-26

Can we believe this drama.....? This type of irresponsible things/decision by investor as well as company. Really funny.

shehani.perera.1612 · 24 Re: CIFL crisis points to Central Bank’s failure Sun Aug 18, 2013 7:03 pm

shehani.perera.1612

Equity Analytic

Posts : 38
Join date : 2013-08-18

@hunter wrote:"registered and monitored by CBSL" are places we should avoid when depositing money.
I learnt this the hard way few years ago.

Hey Guys,
Thease statements are rather funny, In one hand they publish full page articles to invest In Registered Finance Companies, and then see how they comment

"“We know a lot of new finance companies were re-launched, renamed and rehashed in the aftermath of the Golden Key debacle,” he explained. “But they are no better. They are extremely fragile. You must have proper capital for a business and a proper regulatory framework and supervision.”

And then he goes like this,

“We have very often found that some of these companies give us fiction,” said one source. “We have kept an eye on the data they give us and we have proof of them actually fixing the numbers, particularly what is provided to us.” “Most of the finance companies have hardly raised any capital,” he warned. “They grow at an amazing pace. They are taking enormous risks, stretching themselves even more with depositors’ money.”

And this come from no ordinary Person, it comes from the head of the regulator, What could we "Normal layman's will know how to understand this concept of finance Business.

As a company who provided secretarial work for this company we saw their balance Sheet for over 7 years, Central Bank Saw it too, and all of us discussed that how could they do finance business with less than 5% of Quality Lending Portfolio, They always maintained a theory that real Estate would give a secured asset with a capital growth, ( My real estate knowledge is not good to comment on that ) How ever I happened to see few of Central Banks Onsite examination reports, where they were highlighting only on the ownership of those properties, In My opinion they would have easily identified a finance company over 2 Billion FD Base in 2011 with out a much of Interest Income how would they maintain a P&L with a Small profit, Per say if you calculate 2B FD base at 17% is 340 Million + Staff Cost 12 M x 12 = 144 Million Admin 10M x 12 = 120 Million Average cost is 600 Million where as their interest Income was Less than 100 Million So where is that balance 500 Million???? ( I am sorry guys i am not a financial Expert just using common Sense ) If you calculate for 4 Years if this Scenario works the Total would be = 2 Billion. And till last December CIFL P&L never shown any Loss situation, So i would Say they have hide this 2 Billion in the Balance Sheet, that's how the P&L is not Showing any balances, And all these experts in Central Bank Did not See this for last 5 -6 Years??? Al they would have done was issue a direction to the Board of Directors to do a provision for Unearned interest for real estate Projects. And then Company would have find other ways to improve the business or to find fresh capital. And the Directors of CIFL now acts as of they never knew all of these figures. Who have signed their financial Statements? Now they are talking about siphoning Money Out, I dont know whether they had any money to Siphon out, To cover up their loop holes and high level of irresponsibility they comes out with So much of Stories, I saw in Some instances the Staff of CIFL were very determined and enthusiastic to turn around the Business but they were lack of support from the board, But the honest opinion is I never saw the Board of CIFl had a vision to the Company, Or had a strategy to come out of the situation. I am writing this purely because I worked very closely with the Staff and i saw their efforts, today they have no one, their families are in crisis, depositors are in crisis, Shareholders are in Crisis, and Still the regulator dont talk about the truth, What happened during last 7 years...

Wayne Abbott · 25 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 4:11 pm

Wayne Abbott

Senior Equity Analytic

Posts : 80
Join date : 2013-07-19

Shenani.Perera.1612 who are you? I have never meet or discussed anything with yourself in the entire time I have invested in Sri Lankan Company!
You are insane to think there is no more than trickery and lies from Deepthi Perera and his associates.
The Share Sale and Purchase agreement forwarded to me by sharmcifl@yahoo.co.uk and deepthi@cifl.lk and signed by Roscoe Anthony Maloney and a Payment schedule of 12 monthly payments signed by K.S.V.Fernando Company Secretary.
Share Sales Agreement reads 12 Monthly payments made in USD but the signed payment schedule by Fernando and Post Dated Cheque copies is in Rupees and also SampathBank cheque has R A Meloney as the owner of account a totally different spelling to signed Share Sale and Purchase Agreement by Roscoe Anthony Maloney
The Lawyer has a signed Transfer of Shares document for my entire shareholding signed by Roscoe maloney witnessed by 4 other witnesses my email is waynestevenabbott@gmail.com and I would welcome forwarding all for viewing to confirm all with post dated cheques in the wrong currency my assurance that all will be paid and if they dont honour payments the Share Sales Agreement states they will request all shareholdings returned to myself if any 12 months of payments is not honoured I leave this to your imigination as the lawyer to follow up all and assure all will be completed is as abovementioned on a Yahoo email account!

Wayne Abbott · 26 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 4:21 pm

Wayne Abbott

Senior Equity Analytic

Posts : 80
Equity Stars : 2916
Reputation : 0
Join date : 2013-07-19

Surely all can understand WHY i would not accept this situation or payment of my shareholding via this method
1. Wrong currency in cheques but correct in Share Sale and Purchase Agreement have stipulated USD as this is the Currency I paid per my Investment
2. Lawyer yahoo email account was to followup if at anytime any of the 12 monthly payments were not fowarded and if all not honoured was going to get my shareholding returned immediately?
3.This is the 4th attempt to cheat me in regards to a Investor purchasing my shareholding per the longivity of all this debacle Promises then nothing!
4. They requested I Sign Transfer of Shares in entirety to Roscoe Maloney OR R A Meloney on Cheques to Mr Sharm Fernando 73/153,St,Catherine Park, Hokandara North, Hokandara,Sri Lanka and he was to act as the Escrow to ensure firstly wrong currency was paid to were? and if not honoured follow up with the return of my shareholding? I leave this to your intelligence.

Wayne Abbott · 27 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 4:26 pm

Wayne Abbott

Senior Equity Analytic

Posts : 80
Equity Stars : 2916
Reputation : 0
Join date : 2013-07-19

Shenani.Perera.1612 you have just joined 18/08/2013 interesting and who are you and do I need to really guess who you are simply put trying to discredit me with lies and more deceitful trickery I have never meet you in any form or meeting I will gladly forward all information for a open Forum showing all the trickery and also which is reatined by various lawyers in Sri Lanka

shehani.perera.1612 · 28 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 6:22 pm

shehani.perera.1612

Equity Analytic

Posts : 38
Equity Stars : 2852
Reputation : 3
Join date : 2013-08-18
Age : 32
Location : Sri Lanka

@Wayne Abbott wrote:Surely all can understand WHY i would not accept this situation or payment of my shareholding via this method
1. Wrong currency in cheques but correct in Share Sale and Purchase Agreement have stipulated USD as this is the Currency I paid per my Investment
2. Lawyer yahoo email account was to followup if at anytime any of the 12 monthly payments were not fowarded and if all not honoured was going to get my shareholding returned immediately?
3.This is the 4th attempt to cheat me in regards to a Investor purchasing my shareholding per the longivity of all this debacle Promises then nothing!
4. They requested I Sign Transfer of Shares in entirety to Roscoe Maloney OR R A Meloney on Cheques to Mr Sharm Fernando 73/153,St,Catherine Park, Hokandara North, Hokandara,Sri Lanka and he was to act as the Escrow to ensure firstly wrong currency was paid to were? and if not honoured follow up with the return of my shareholding? I leave this to your intelligence.

Dear Sir,

You have asked me if i am Insane, I am surly not, Mr K.S.V. Fernando is the escrow agent you have appointed, And you have requested Mr. Deepthi Perera to pay your Escrow agents Fees as Well. Why would you appointed and authorize and escrow agent if you didn't like the Transaction. You have sent emails and ask the lawyers to arrange papers, Do you know if you have received the cheques you would have banked them, instead you kept all the documents, May be you had an idea to make it double payment.

shehani.perera.1612 · 29 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 6:30 pm

shehani.perera.1612

Equity Analytic

Posts : 38
Equity Stars : 2852
Reputation : 3
Join date : 2013-08-18
Age : 32
Location : Sri Lanka

@Wayne Abbott wrote:Shenani.Perera.1612 you have just joined 18/08/2013 interesting and who are you and do I need to really guess who you are simply put trying to discredit me with lies and more deceitful trickery I have never meet you in any form or meeting I will gladly forward all information for a open Forum showing all the trickery and also which is reatined by various lawyers in Sri Lanka

Dear Sir,

I can remind you where and when we have met, But i think this forum is not suitable for that, But in 2005 you did the same thing when you change the Share Certificates to your Name you told me to leave them in Colombo Hilton,s Reception and you will leave all certificates to me to collect, but you have taken both and later denied that, you are have a habit of doing that and also forgetting it, There is nothing or no reason for me to Distract you, If you have a issue with Deepthi perera why don,t you take him to courts, take legal actions, You waited all these years and blaming the people who help you? You yourself knows where you were for last few years, So you know it very well, Stop blaming the staff or outside companies or personal who were trying to help you. If you have a issue with Deepthi perera you better sort out with him, Not with the lawyer or company Secretary and Audit firm,

mark · 30 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 6:58 pm

mark

Expert

Posts : 2676
Equity Stars : 8635
Reputation : 423
Join date : 2011-02-04
Age : 30
Location : Hell....

fatta pata pata topic eka Smile

suddera · 31 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 10:45 pm

suddera

Manager - Equity Analytics

Posts : 188
Equity Stars : 3808
Reputation : 3
Join date : 2011-07-17

@mark wrote:fatta pata pata topic eka

`

Enjoying a lot !!!

stockup&down · 32 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 11:09 pm

stockup&down

Senior Equity Analytic

Posts : 53
Equity Stars : 2925
Reputation : 0
Join date : 2013-07-11

@suddera wrote:

@mark wrote:fatta pata pata topic eka

`

Enjoying a lot !!!

Expertise actually is it worthwhile keep this share further or sell it at a huge loss.

mark · 33 Re: CIFL crisis points to Central Bank’s failure Fri Aug 23, 2013 8:53 pm

mark

Expert

Posts : 2676
Equity Stars : 8635
Reputation : 423
Join date : 2011-02-04
Age : 30
Location : Hell....

stockup&down wrote:

@suddera wrote:

@mark wrote:fatta pata pata topic eka

`

Enjoying a lot !!!

Expertise actually is it worthwhile keep this share further or sell it at a huge loss.

hold it and see what new mgmt gna do

Central bank has to save it somehow, but dnt knw when.

im prety sure they can restructure it, as they did to SMLL

legalsupport · 34 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 11:07 am

legalsupport

Stock Trader

Posts : 7
Equity Stars : 2791
Reputation : 0
Join date : 2013-09-05

@Wayne Abbott wrote:Good Evening,

I am the Foreign Investor who paid for all the entire acquistion of CIFL in 2004 with promised returns,then made a shareholder of Aspic Group effectively quashing my direct link to CIFL and so forth,also with the BOI recognizing my shareholding also the Prospectus issued prior to the floating of cifl,Nine years later i have received zero except lies from Mr Deepthi Perera and K.S.V. Fernando with statements that dividends will be paid but never happening
Mr Deepthi Perera always was questioned WHY? he was able to buy so much % shareholding of CIFL and were did he get the funds to do so!
He has lied and cheated all and myself the Foreign Investor was cheated and lied to over and over again with no assistance from BOI - Chartered Accountants and other associated protection bodies for investment into sri lanka
This will be presented to the media throughout the world as Sri Lanka is a disgrace in the business ethics that stand a structure in a good safeguard for foreign and local investors,all I have heard is excuses and no action to correct the wrongdoings by particulary Mtr Deepthi Perera and his board with the accountant Fernando many times I belive doing illegal summaries of company and many times questioned
I do hope a resolve can happen and my funds are reimbursed to again enhance the business ethics if Sri Lanka
Yours Sincerely
Cheated Foreign Investor
Wayne Steven Abbott

Dear Wayne,

Thank you very much for your input.

I am a legal advisor and represents one of the most prominent law firms in Sri Lanka. I also know one of Deepthi Perera closest friends who was actively involved in his work. Deepthi perera owns a 11 acre private land in Madu Ganga which is half developed and is a waste of money. He also own a Tea and Rubber estate in Yatianthota. He also owns a property in Belihul oya named Accacia inn. So all this is your money and depositors money.

Deepthi perera also has couple of race vehicles. He has many other private assets.

So if you are interested in legal action please do post your contact numbers so we can have a further conversations.

Deepthi Perera is a A grade Con Man and a Drunkard. Sad that you got caught.

shehani.perera.1612 · 35 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 4:37 pm

shehani.perera.1612

Equity Analytic

Posts : 38
Equity Stars : 2852
Reputation : 3
Join date : 2013-08-18
Age : 32
Location : Sri Lanka

Mr. Wayne, Oh yes you must sue Deepthi Perera and protect your money. Because all what he have done was buying private assets with your money and depositors money, Honestly tell me why have you invested with this Drunkard ha? You never new how Con this man was, I feel sorry for you honestly. I recomand we all contact the Legal Aid and get his support to sue this conman and recover our monies.

Dear Lebal Aid please let us know this Most prominent Law firm that you work so we can come and meet you. ad start this process.

balapas · 36 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 5:20 pm

balapas

Senior Manager - Equity Analytics

Posts : 359
Equity Stars : 3944
Reputation : 26
Join date : 2011-07-25
Age : 41

OK now this is getting out of hand.

Redbulls · 37 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 5:43 pm

Redbulls

Director - Equity Analytics

Posts : 6053
Equity Stars : 14953
Reputation : 770
Join date : 2012-02-14

Agreed with Balapas.

Today 2 accounts created, may be by a same person (who knows) to continue the discussion.

I think now the time is coming to take action on this thread by our Admin team.
cheers

shehani.perera.1612 · 38 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 6:51 pm

shehani.perera.1612

Equity Analytic

Posts : 38
Equity Stars : 2852
Reputation : 3
Join date : 2013-08-18
Age : 32
Location : Sri Lanka

i don't know what justification you have to kill his 7 years of Son. This really shows who you are. This shows your nature, Dear Sir this is Sri Lanka we don't kill people like that, if you have a problem with Take him to Courts please dont spoil this forum.

shehani.perera.1612 · 39 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 8:02 pm

shehani.perera.1612

Equity Analytic

Posts : 38
Equity Stars : 2852
Reputation : 3
Join date : 2013-08-18
Age : 32
Location : Sri Lanka

Balapas, Redbull, I am totally against of bringing families in to this forum who has no relationship to business what so ever. What can a small kid do? these psychos should be eliminated from this forum,

Fresher · 40 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 9:36 pm

Fresher

Moderator

Posts : 1498
Equity Stars : 6397
Reputation : 163
Join date : 2011-02-04

@Redbulls wrote:Agreed with Balapas.

Today 2 accounts created, may be by a same person (who knows) to continue the discussion.

I think now the time is coming to take action on this thread by our Admin team.

they seemed to be by the same person.

deleted one post as it was totally inappropriate IMHO. I'll leave the others to the admin team.

Roboticfx · 41 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 10:56 pm

Roboticfx

Senior Vice President - Equity Analytics

Posts : 1858
Equity Stars : 6797
Reputation : 131
Join date : 2011-07-16
Location : 5° 55'N - 9° 55' N and 79° 42'E - 81° 52E'.

I have also troubled to delete this inappropriate post of shehani because I cannot allow users to think that **** is an innocent person.

K.Haputantri · 42 Re: CIFL crisis points to Central Bank’s failure Fri Sep 06, 2013 11:53 am

K.Haputantri

Co-Admin

Posts : 2274
Equity Stars : 7768
Reputation : 390
Join date : 2011-12-06
Age : 71
Location : Moratuwa

The post was locked and sent to Prision but later it was restored when realised that it should remain in the talk section. Sorry about the inconvenience caused.

Sponsored content

Latest topics

CIFL crisis points to Central Bank’s failure

21 Re: CIFL crisis points to Central Bank’s failure Sun Aug 18, 2013 3:36 am

shehani.perera.1612

22 Re: CIFL crisis points to Central Bank’s failure Sun Aug 18, 2013 11:49 am

m2_yapa

23 Re: CIFL crisis points to Central Bank’s failure Sun Aug 18, 2013 1:10 pm

NUINTH

24 Re: CIFL crisis points to Central Bank’s failure Sun Aug 18, 2013 7:03 pm

shehani.perera.1612

25 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 4:11 pm

Wayne Abbott

26 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 4:21 pm

Wayne Abbott

27 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 4:26 pm

Wayne Abbott

28 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 6:22 pm

shehani.perera.1612

29 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 6:30 pm

shehani.perera.1612

30 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 6:58 pm

mark

31 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 10:45 pm

suddera

32 Re: CIFL crisis points to Central Bank’s failure Wed Aug 21, 2013 11:09 pm

stockup&down

33 Re: CIFL crisis points to Central Bank’s failure Fri Aug 23, 2013 8:53 pm

mark

34 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 11:07 am

legalsupport

35 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 4:37 pm

shehani.perera.1612

36 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 5:20 pm

balapas

37 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 5:43 pm

Redbulls

38 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 6:51 pm

shehani.perera.1612

39 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 8:02 pm

shehani.perera.1612

40 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 9:36 pm

Fresher

41 Re: CIFL crisis points to Central Bank’s failure Thu Sep 05, 2013 10:56 pm

Roboticfx

42 Re: CIFL crisis points to Central Bank’s failure Fri Sep 06, 2013 11:53 am

K.Haputantri

43 Re: CIFL crisis points to Central Bank’s failure

Sponsored content