spicysport 
On May 17, 2015, the Sunday Times published a shocking exposé titled “Swiss Bank Exposé: Names of 40 Lankans Revealed. US$ 50 Million in Secret Accounts.” Among the names listed was Mr. Surendran Subramaniam, the current President of the National Olympic Committee of Sri Lanka. The article reported that Mr. Subramaniam and his wife, Charlotte Ranjitha, held a staggering total of US$ 13,129,904 in secret Swiss accounts, with Mr. Subramaniam’s individual balance reported as US$ 6,564,952.
The revelation of such substantial undisclosed wealth raises serious legal and ethical implications, especially for someone in a prominent public position. Mr. Subramaniam is described in local trade circles as a businessman who has conducted extensive dealings with the Ceylon Electricity Board (CEB). This connection amplifies concerns regarding potential conflicts of interest, particularly if his business activities influenced public contracts or financial decisions.
The existence of these accounts, if unreported to tax authorities, could constitute tax evasion, which is illegal in most jurisdictions. Additionally, the substantial amounts held in these secret accounts may suggest potential money laundering, particularly if the origins of the funds remain unclear or are suspected to stem from illicit activities.
Financial institutions are bound by strict regulations regarding the reporting of significant transactions. Non-compliance can lead to severe legal consequences for both account holders and the banks involved.
As the leader of the National Olympic Committee, Mr. Subramaniam’s involvement in such allegations could significantly undermine public trust in the organization, raising urgent questions about ethical governance and accountability.
It is surprising that, nearly a decade after the initial publication of this exposé, there has been no substantial investigation into the origins of these funds or the legality of the accounts.
There are calls for an independent inquiry to shed light on this troubling matter and to restore public confidence in the integrity of the National Olympic Committee.
Transparency in financial matters is vital for public figures, especially those in positions of authority. The ongoing silence surrounding these allegations may lead to increased public outcry and demands for accountability, as well as calls for policy changes regarding financial disclosures for public officials and their families.
The revelations concerning Mr. Surendran Subramaniam and the significant amounts held in secret accounts must be addressed transparently and urgently. The implications of these findings extend beyond personal accountability; they strike at the heart of trust in public institutions. Without thorough investigation and clarity, the integrity of the National Olympic Committee of Sri Lanka remains in jeopardy.
Reference : https://www.sundaytimes.lk/150517/news/swiss-bank-expose-names-of-40-lankans-revealed-149344.html
