Thona Bay development.

sportscasual · 2011-02-07T07:49:22+01:00

I am looking at investing in a property with a company called Karooda properties. They are developing a large stretch of beach front land north of Batticaloa called Thona Bay. I am trying to find out as much about this area as possible before i make my mind up to commit. Does anyone know anything about this area? the beaches? towns? Is the international airport they have planned near completion?..(apparantly a few flights run according to one source of info. Does anyone know of anyone investing in this? I only have the developers sales pitch to go on and was wondering if anyone could broaden my knowledge. (wouldn't be too hard at this stage) Thanks.

Last activity 08 December 2015 by SGhawker

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zeejayActive member02 June 2014 16:24:29

#41

Arun is politically affiliated with the governing party and an organizer for the said region. Hardly anyone could expect any justice here.

RichieStewartNew member02 June 2014 16:37:54

#42

I couldn't comment on that. The reality though is that if the government is serious about attracting foreign capital and investment - which is the spur to growth and jobs - then it also needs foreign investors to feel safe about making investments and ensure that fraud and malfeasance is investigated and those responsible brought to justice.

zeejayActive member02 June 2014 17:04:25

#43

Here the government is full of crooks.
My advise is directly approach the Mr President highlighting all the issues.
Otherwise its hard to seek any justice.
Any idea over how much this guy swindle?

clikbillActive member02 November 2014 01:13:06

#44

Do you guys having the details about Arun Thambimuttu, Karooda Properties, Proofs of Payments to the said company, any details about the person, number of people invested in this project, approximate value/total investment so far. if you have filed a case in Sri Lanka or UK regarding the fraud.

Awaiting for the details.

SGhawkerMember08 December 2015 01:18:43

#45

RichieStewart wrote:
Relevant actions are currently underway. Fraud has taken place on several levels. The land doesn't even belong to Arun and official titles etc proved to be falsified, false representations etc.

So what is the end of whole story? Has any money been recovered?