Bond Scam: Tip of the Economic Terrorism Iceberg?
Posted on November 22nd, 2017
Dilrook Kannangara
On January 31, 1996 Tamil terrorists attacked the Central Bank building causing extensive damage and killing over 70 civilians. However, if the 30 year fradlently issued bonds are allowed to continue paying interest, it will cost far more than the damage caused by Tamil terrorists 20 years ago.
The bond scam is developing into another war fought in a judicial manner between the Sri Lankan side and a side dominated by Tamils colluding together to save alleged fraudsters. Not many Tamils (or none at all) are on the Sri Lankan side against alleged fraudsters. Actors remotely and directly involved also suggest a connection to the 2013 Singapore Principles crowd that pushed the Tamil agenda within the Yamapalanaya clique.
Allegedly at the centre of the bond fraud there is Arjun Mahendran (former Central Bank governor who is also a Tamil illegal immigrant to Sri Lanka as he has no Sri Lankan citizenship), his son in law Arjuna Aloysius, Pathumanapan (former senior Assistant Director of the Communications Department of the Central Bank) and his brother, Indrajith Coomaraswamy (current Central Bank governor who didn’t initiate an internal investigation to the bond fraud before his time) and Sumanthiran (Tamil National Alliance MP and counsel of Pathumanapan). Though not directly involved, Paskeralingam is another Tamil who is holding a senior position in managing the nation’s finances. Mangala Samaraweera (not a Tamil but harbours strong pro-Tamil political views) is the finance minister who was also a participant at the Singapore Principles conspiracy in 2013. Former finance minister (under whose supervision was the Central Bank when the fraud occurred) is not too far behind.
TNA colluding with Mangala and UNP on finance matters became very clear when TNA for the first time voted for the budget! The budget in turn gives super profit for key Tamil businessmen in the beer industry.
Connecting all these dots together, there is much more to the bond fraud than meets the eye. Is it the new face of economic terrorism?
November 21st, 2017 at 6:47 pm
Correctly gathered the info and connected the dots Dilrook. Thank you for this. This is a big eye opener and we can now clearly see how Mother Lanka is being destroyed in many fronts.
This is a grave danger and I don’t think that this Island nation had such deadly and serious threats in the history of 4,000 years since King Rawana’s time
November 21st, 2017 at 7:49 pm
Enough of talking who is at fault.
We should push for Perpetrator Treasuries to pay back all the money stolen. people must surround Horakotha and demand this.
November 21st, 2017 at 9:01 pm
There is nothing to hide. Everything is exposed. This mastermind or rather the cat’s paw of the Western Christian Powers who are intent on balkanizing Sri Lanka, was only summoned to put a cap on the whole sore did Bond Scam.
Who is Hon PM is quite evident as are RK and others. His achcharu face shows that he has crap all over. Still he is trying to hoodwink the gullible UNP idiots in the false belief that he is putting up a brave face. This is the face of a cat that crapped on a rock – nothing less. He has no place to hide now!
If Wikkamasinghe has even an iota of pride left, although he is just an excuse for a human being, he shoud resign now and allow full judiciary proceedings to take place. This is the only way to clear his name and those of others around him. That is the honorable way!
However we cannot expect such honorable conduct from a born crook, fathered and mothered by crooks!
While trying to cover up his childish handiwork of the Bond Scam which has caused greivous harm to the economy and nations standing in the monitary world, now he has spoilt the political future of many a young, up and coming politicians, by getting them to cover his crap trail. Even the maserminds of this Bond Scam somewhere in Washington DC must be disgusted in the childish way it was conducted and got caught red handed!
Lap dogs Sujeewa Serasinghe, Ajith P Perera, and others similar minions, while trying to defend the Royal College Mafia have ruined their political future. They have been exposed to the people of Sri Lanka as liars and mercinary thugs.
It is a shame to see such an animal is still allowed to soil the hallowed ground of Mother Lanka, let alone allowed to be the Prime Minister of Sri Lanka. What more can be expected when even a lower breed reigns as the President.
Where is the rule of Law in Sri Lanka? Where is the Independent Judiciary? Where are the Independent Commisssions?
November 21st, 2017 at 10:46 pm
Where is the rule of Law in Sri Lanka? Where is the President in Sri Lanka who could take action against Bond Scam. All culprits are still in active while Sira is sleeping? This so call Presidential Commission is another joke same as many other in the past. People will forget all these events in 2020 election time and cast votes for another set of crooks & thugs with New promises. Ranil is a born crook like his father Esmond who robbed Lake House as the Chairman until Ranjith Wijewardena return completing his studies overseas.
November 22nd, 2017 at 1:40 am
Options for money recovery post-PCoI bonds scam report
BY Ruwan Laknath Jayakody
Upon the submission of the report of the Presidential Commission of Inquiry (PCoI), investigating the issuance of Treasury Bonds, to the President on 8 December, several actions involving the citizenry, the Parliament, the Auditor General, the Police and the Attorney General could be taken.
The President may submit the report to the Parliament, whereupon an MP can request for a debate regarding the matter. In the case of the latter, the options are twofold. One is that the Parliament can pass a resolution pertaining to a no-confidence motion on the basis of the disclosures made. The other is that the Parliament can refer the matter in turn to the Auditor General who can directly impose surcharges on the initial Treasury bonds issue of Rs 10 billion on the former Central Bank Governor Arjuna Mahendran, to recover the loss to the State coffer.
The President may submit the report to the Attorney General for further investigative actions or a private individual such as a member of the general public or a Member of the Employees Provident Fund may lodge a complaint in this regard with the Police, subsequent to which the Inspector General of Police will hand over the investigation to the Criminal Investigation Department, following which initiative the Attorney General could indict.
It must also be noted that the Commission is a Presidential Commission of Inquiry and not a Special Presidential Commission of Inquiry and therefore cannot revoke the civic rights of any individual.
When also queried as to whether a fundamental rights action could be filed in this regard, former Chief Justice President’s Counsel Sarath Nanda Silva concurred, saying that as per Article 12(1) of the Constitution which provides for equality before the law and equal protection of the law, one could cite the Bonds scam as a breach which occurred by way of arbitrary administrative action on the part of Mahendran.
“The Parliament can also enact special legislation sans penal sanctions to recover the monies lost, as some process is required for the quick recovery of the losses and such in turn requires special legislation and to make good on the losses in respect of such liability. Such legislation could also impose default sentences in the form of fines. All such aforementioned courses of action must be taken pertaining to this matter,” he added.
November 22nd, 2017 at 2:44 am
මෙම මහ ප්රෝඩාව ඉන්දියානු පරපෝසිතයන්ගේ වැඩකි. මුන් සුද්දගේ කරපිටින් ආදා සිට සින්හලයන් සූරා කෑම කරගෙනයති. මෙය අලුත් දෙයක් නොවේය.
This is only one act of the Indian circus. We the Sinhalese audience some love it other hate it. The circus moves on.
Ranil the puppet has gone to see the Emperor?
November 22nd, 2017 at 3:31 am
What can you expect from a UNP Government, it is a joint government in name but all those SLFP goons alngside Sirisena are all UNP “Bath Gottas”
The things the UNP and the media, and other sympathisers of the UNP regime are proud of this government because it has have provided democratic freedom for the people or any one to criticise the Government and make Manifestations, and now because it was they say the First time a Prime Minster had gone before a Commission to give evidence. These they think compensates there inability to have done any development work in the country. It was the First time perhaps in he world a Prime Minister was called before a Commission to give evidence to avoid himself from being accused for a bank robery. His evidence has inculpated him more in the that Bond theft that before.
They do not accept th at Mahinda Rajapakse despite a war had developed the Country, end terrorism, brought peace and security to the peopledespite the accusations of corruption. Who would the people people prefer a corupt former President who developped the country to a Prime Minister who hasrobbed the Centrakl Bank and a Prfesidentwho nevertheless supports him ?
November 22nd, 2017 at 6:06 am
Sirisena must remove Ranil. Along with him many Tamil crooks will go. They have been ruining the economy every time Ranil was in power.
November 22nd, 2017 at 8:24 am
As Dilrook says, it certainly sounds like an engineered serious Economic Crash is colliding with Lanka.
The Central Bank is the ground for action, the target point.
The start was in Jan 1996 when the LTTE tried to literally smash & crash the Central Bank with a truck load of explosives.
Now it is Foreign Agent RW’s “Crash & Sell” program in operation through two massive Central Bank Scams.
The Eelam formation & foreign players have come together through local Agents & some Tamil leaders, particularly those in the Economic field.
The Tamil Economic Unpatriotic Foreign Agent crooks are working together with Foreign Agent RW’s “Crash & Sell” program.
Through all this, Neo-Colonisation of Lanka has begun in earnest ?
All this starated due to what ?
COLONISATION of Lanka for nearly 500 yrs when import of Tamil people as cheap labor & the ‘divide & rule’ stuff began in earnest in Lanka.
So why go back to Neo-Colonisation with Foreign Agent RW’s ‘Crash & Sell” program ?
Stop RW’s ‘Crash & Sell’ program !
Stop the new Constitution !
November 22nd, 2017 at 9:09 am
It is up to the Minorities of Lanka who thrive on the ancient Sinhala/Buddhist bed rock values, to get together and stop the ongoing RW ‘Crash & Sell’ program plus the neo-Colonisation of Lanka through the new Constitution.