TRO Funds forfeited
Approximately Rs 71 million which was lying to the credit of the
Tamil Rehabilitation Organisation (TRO) at the time the funds of the TRO
were frozen, have now been forfeited to the State.
The TRO accounts were suspended in Sri Lanka in terms of the
provisions of the Financial Transactions Reporting Act and the
Convention on the Suppression of Terrorist Financing Act in August 2006.
Such suspension was carried out on the grounds that the large sums of
money received by the TRO from time to time from international
non-governmental organisations, individuals, foreign entities and TRO
branches in several foreign locations, purporting to be funds for
humanitarian projects in Sri Lanka, were, according to intelligence
reports, mainly used to finance terrorist activities, and that the
money, securities or credits which were lying to its credit were being
used or intended to be used for such purposes.
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