Namal Rajapaksa buys $70 million shares of Starlink

Namal Rajapaksa has purchased $70 million in Starlink stock.

Starlink is an American super internet company.

Namal Rajapaksa is former President Mahinda Rajapaksa’s eldest son. Rajapaksa was a shareholder in Ascot Holdings PLC, owning 92,000 shares as of September 30, 2011.

Namal Rajapaksa is being investigated for money laundering after a civil society organisation called Voice Against Corruption filed a complaint with the FCID.

According to the complaint, a company owned by MP Namal Rajapaksa purchased shares in another company using funds obtained in violation of the Money Laundering Act. As a result, the Colombo Chief Magistrate ordered the freezing of several bank accounts related to the companies for further investigation.