The Supreme Court has ruled in favour of South Korean investor Kim Hyum Wook in a copper export fraud case involving USD 96,000, upholding a previous judgment by the Colombo Commercial High Court.
The court affirmed that Kim is entitled to recover the amount from Sri Lankan individual Indralal Rajapaksha, who allegedly defrauded him after promising to export 15 tonnes of copper.
The appeal filed by Rajapaksha was dismissed, with the Supreme Court stating there was no basis to overturn the High Court’s decision, which had been reached after a thorough evaluation of the evidence.
The three-judge bench, comprising Justices Kumudini Wickremasinghe, Arjuna Obeyesekere, and Sampath B. Abayakoon, also ordered Rajapaksha to pay Rs. 100,000 in legal costs to the plaintiff.
The case dates back to 2010, when Kim, who had arrived in Sri Lanka to pursue business opportunities, was introduced to Rajapaksha through an acquaintance named Ranasinghe. After being shown three tonnes of copper stored at Rajapaksha’s residence, Kim entered into an agreement for the export of 15 tonnes of copper to the port of Busan, South Korea.
Following the agreement, Kim arranged for his father’s company in South Korea to transfer USD 96,000 to Rajapaksha’s personal bank account. However, the promised shipment never materialised, nor was the money returned—prompting Kim to take legal action.
During the trial, the defendants argued that the agreement was between two companies and that Rajapaksha was not personally involved. They also claimed that the signature on the agreement was forged. However, the court found these claims unconvincing.
The plaintiff also alleged that Rajapaksha’s wife had used a portion of the transferred funds for her own benefit, with his involvement.
With this ruling, the Supreme Court has reaffirmed the High Court’s decision, delivering justice in a case that highlights the importance of accountability and transparency in international business dealings.
