He was originally charged for "conspiring to commit acts to create a false/misleading appearance of active share market" in involving several others relating to trading of Nawaloka Hospitals Limited shares.
The request to 'compound' the case by paying a fine came after the case was filed in Colombo Fort magistrate court, the SEC said.
"Taking account of all the attendant circumstances, it was decided by the Members of the Commission to allow the compounding of the offence upon payment of Rs. Three Million and Three Hundred Thousand (3.3 Million), i.e. 1/3 rd of the maximum fine imposable for the said offence."
The money has since been credited to an SEC compensation fund.
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