Sakvithi Ranasinghe

Weerakumara was the youngest of the 5 children of single mother H.T.D Chandra Latha. He took his primary education at D. S. Senanayake College Colombo 7.[http://www.sundaytimes.lk/081019/News/sundaytimesnews_19.html ‘I was once so proud of my son’] Being the only child who was successful in education, Weerakumara started conducting English Language tuition in Rathmalana under the alias "Sakvithi Ranasighe". Within a short period of time, he became a famous English tutor in the island with the use of aggressive advertising campaigns and paid television programs.{{cite web|url=https://www.youtube.com/watch?v=9G8ue-gFgaw |title=sakvithi ranasinghe practical english 01 |publisher=YouTube |date=2007-12-20 |access-date=2012-08-20}} He used the controversial slogan "Mama iganweematama Upannemi" meaning "I was born to teach".{{cite web|last=Rajakarunanayake |first=Lucien |url=http://www.island.lk/2008/10/11/satmag2.html |title=The Island-Saturday Magazine |publisher=Island.lk |access-date=2012-08-20}}

As a result of the fame and financial success gained from his teaching, in the year 2003, Sakvithi Ranasighe started a company called "S. R. Property Sharing Investment (Private) Limited" which claimed of giving attractive dividends for its depositors.{{cite web|url=http://sundaytimes.lk/080928/News/sundaytimesnews_08.html |title=Sakvithi: King of all cons |publisher=Sundaytimes.lk |access-date=2012-08-20}} Subsequently, Ranasinghe started another company called "Sakvithi Constructions" which was supposedly engaged in buying and selling of properties. Later, it was revealed that he was engaged in selling lands by making counterfeit land deeds.

Based on numerous complains from the victims, on September 26, 2008, Sakvithi scam was busted by Central Bank following further investigations. On the same month, the Police has announced that Sakvithi Ranasinghe has fled the country to Chennai, India. Later, it was estimated that total of Rs.1,060 million belonging to 2,135 depositors was missing along with him.{{cite web|url=http://www.dailymirror.lk/news/16000-initial-steps-taken-to-indict-sakvithi.html |title=Initial steps taken to indict Sakvithi | Breaking News |publisher=Dailymirror.lk |date=2012-01-09 |access-date=2012-08-20}}

In August 2010, Ranasinghe and his wife were arrested by Mirihana Police when he was disguised in Nawagamuwa.{{cite web|url=http://adaderana.lk/news.php?nid=9275 |title=VIDEO: Sakvithi Ranasinghe arrested |publisher=Adaderana.lk |date=2010-08-06 |access-date=2012-08-20}} Criminal Investigation Department of Sri Lanka was carrying out the investigation and he was remanded by a Court ruling

of Nugegoda Magistrate.{{cite news |url=http://www.dailynews.lk/2010/08/09/sec02.asp |title=Sri Lanka Security News | Online edition of Daily News - Lakehouse Newspapers |publisher=Dailynews.lk |date=2010-08-09 |access-date=2012-08-20 |url-status=dead |archive-url=https://web.archive.org/web/20110824042552/http://www.dailynews.lk/2010/08/09/sec02.asp |archive-date=2011-08-24 }}{{cite web |url=http://newsfirst.lk/english-news/index.php?view=news_more&id=3083 |title=Sakvithi Ranasinghe and wife further remanded |publisher=Newsfirst.lk |access-date=2012-08-20 }}{{dead link|date=May 2018 |bot=InternetArchiveBot |fix-attempted=yes }} Further investigations revealed that most of the money he swindled were spent while gambling in casinos such as MGM, Bellagio and Baylies regularly with his associates.{{cite web|url=http://lankaviews.com/en/index.php?option=com_content&view=article&id=8636&catid=35:local&Itemid=48 |title=Casino brought my downfall – Sakvithi shouts in prison |publisher=Lankaviews.com |date=2011-03-22 |access-date=2012-08-20}}

While trial for fraud is being carried out, on 30 January 2013 Ranasinghe pleaded guilty to bigamy.{{cite web |url=http://sundaytimes.lk/latest/29720-sakvithi-convicted-for-bigamy.html |title=Sakvithi convicted for bigamy |access-date=2013-02-01 |url-status=dead |archive-url=https://web.archive.org/web/20130201000612/http://sundaytimes.lk/latest/29720-sakvithi-convicted-for-bigamy.html |archive-date=2013-02-01 }}{{Cite web |url=http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=62440 |title=The Island |access-date=2013-02-01 |archive-date=2016-03-04 |archive-url=https://web.archive.org/web/20160304062632/http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=62440 |url-status=dead }} According to the case filed by the Sri Lanka Attorney General, Ranasinghe had married his first wife Subashini de Silva on 9 March 1998. At the same time he had married for the second time, Anuruddhika Kumari, and had two children by her.{{Cite web |url=http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=71622 |title=The Island |access-date=2013-02-01 |archive-date=2016-03-04 |archive-url=https://web.archive.org/web/20160304050152/http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=71622 |url-status=dead }} He was sentenced for two years rigorous imprisonment by the Colombo High Court.{{Cite web|url=http://www.adaderana.lk/news.php?nid=21469|title=Sakvithi sentenced to two years for bigamy}}

In September 2022, Sakvithi Ranasinghe, who pleaded guilty to financial fraud, was sentenced to 22 years rigorous imprisonment suspended for 5 years by the Colombo High Court. The accused who pleaded guilty to 11 charges was sentenced two years for each charge. The Magistrate also imposed a fine of Rs. 275,000 on the accused. Meanwhile, the wife of Sakvithi Ranasinghe, who pleaded guilty to one charge was also sentenced to two years imprisonment suspended for five years and subjected to a fine of Rs. 25,000.{{Cite web |title=Sakvithi Ranasinghe sentenced to 22 years RI for financial fraud - Breaking News {{!}} Daily Mirror |url=https://www.dailymirror.lk/breaking_news/Sakvithi-Ranasinghe-sentenced-to-22-years-RI-for-financial-fraud/108-244919 |access-date=2022-09-15 |website=www.dailymirror.lk |language=English}}

In December 2023 - Convicted financial fraudster Sakvithi Ranasinghe and his wife were fined Rs. 1.8 million each by the Colombo High Court, after the duo pleaded guilty to charges of financial fraud.The Colombo High Court Judge further ordered that they be sentenced to 24 months of rigorous imprisonment, in the event that they fail to pay the relevant fine {{Cite web |title=Sakvithi Ranasinghe and wife fined Rs. 1.8 million each |url=https://www.adaderana.lk/news.php?nid=95593 |access-date=2023-12-15 |website=www.adaderana.lk |language=en}}

In May 2025 - Sakvithi Ranasinghe and his wife were sentenced each to one year of rigorous imprisonment, suspended for 10 years, and imposed a fine of Rs. 25,000 per individual for operating an illegal financial institution and collecting public deposits totaling over Rs. 164.1 million. It was revealed in court that nearly 60% of the defrauded amount—about Rs. 98 million—has already been repaid to depositors in Rs. 5 million monthly instalments since July 2023, under an agreement between the plaintiff and defence counsel.

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