Their suspicion is fueled by the fact that Mr. Kiwulegedara has assumed the helm of Touchwood operations at a time when the company is faced with a severe liquidity issue of having to pay Rs.150 m its investors, without delay.
The Securities and Exchange Commission (SEC) and the Criminal Investigation Department (CID) are currently holding investigations against the Roscoe Maloney couple, creating a difficult situation for them to come to Sri Lanka.
However, their assets are still said to be in Sri Lanka.
Meanwhile, they are accused of entering the Director Board of Central Investment & Finance Limited PLC (CIFL) with the promise of investing Rs.200 m and then fleeing to Cambodia without honoring their promise.
According to Mr. Kiwulegedara, the blessings and support of the Roscoe Maloney couple are with the new Touchwood Director Board as they have not yet stepped out of the company.
He has also revealed that the couple has purchased 28,000 acres from the Cambodia government under 70-year long term lease basis to grow rubber, teak, and pineapple.
Pointing out that the Touchwood Cambodian company is not connected to Touchwood Sri Lanka, Mr. Kiwulegedara has said that Mr. Roscoe would take steps to sell the investment if a fair offer comes up.
Openly stating that support from the sought indirectly from the Govt to prevent Touchwood Investments PLC from collapsing.
He has also revealed that he is going to invest US$. 30 m in CIFL through his foreign contacts, on behalf of the troubled depositors in the company.
However, economic experts question where investors for collapsed businesses can be found in the backdrop of the current global economic crisis.