AG files indictments against 10 related to Treasury Bonds scam
Posted on July 1st, 2019

K.S. Udaya Kumar Courtesy Ceylon Today

Attorney General Dappula de Livera yesterday (28) filed indictments against former Central Bank Governor Arjuna Mahendran and nine others in the Special Permanent High Court Trial-at-Bar.

The indictments were before a three-Judge Bench comprising Justices Sampath Abeykoon, Sampath Wijeyaratna and Champa Janaki Rajaratna.

Coordinating Officer to the Attorney General, State Counsel Nishara Jayaratne, said that the Court has summoned the accused to appear before the Court on 19 July for the serving of indictments.

She said that the prosecution has already named 115 persons as witnesses in the case while one million Court productions have also been submitted.

The Attorney General has indicted the suspects on 23 counts, under the Offences against the Public Property Act and the Registered Stocks and Securities Ordinance.

Earlier this month, the Attorney General had sought approval from Chief Justice Jayantha Jayasuriya to file indictments against the 10 defendants over the Central Bank Treasury Bonds scam, in the Permanent High Court-at-Bar. On 13 June, the Attorney General received the Chief Justice’s approval to file the case before the Permanent High Court-at-Bar in the Western Province.

Content with the information filed by the Attorney General in the Bond scam case involving the former Central Bank Governor, former Deputy Governor P. Samarasiri, Perpetual Treasuries Limited (PTL) and its Directors, Chief Justice Jayasuriya ordered the Permanent High Court-at-Bar in the Western Province to try the case in respect of the offences stated in the information submitted to him.

Issuing a statement, she said that having considered the information referred by the Attorney General, under Section 12A(4)(a) of the Judicature Act as amended by Act, No. 09 of 2018 and the Chief Justice being of the opinion that the information satisfied criteria (i) (ii) (iii) and (v) specified in Section 12A(4)(a), has made the Order under Section 12A(4)(b) of the said Judicature Act directing that Criminal Proceedings in respect of the offences stated in the said information be instituted before the Permanent High Court-at-Bar in the Western Province against the suspects.

The defendants include Lakshman Arjuna Mahendran, Paththinige Samarasiri, the PTL, PTL Owner Arjun Joseph Aloysius, PTL Chief Executive Officer Kasun Oshadhi Palisena, PTL Chairman Geoffrey Joseph Aloysius, PTL Directors Pushyamithra Gunawardena, Chitta Ranjan Hulugalle, Muthuraja Surendran and Ajahn Gardiye Punchihewa.

The indictments have been filed pertaining to the Central Bank Treasury Bond auction on 27 February 2015.

Seven of the charges against the suspects are as follows;

  • Conspiracy to commit criminal misappropriation in respect of Treasury Bonds to the face value of Rs 10.058 billion. (against all suspects)
  • Criminal breach of trust in respect of Treasury Bonds to the face value of Rs 10.058 billion (against Mahendran and Samarasiri, the first and second suspects) and thereby causing a loss to the Government in a sum of Rs 688,762,100
  • Abetting Mahendran to commit criminal breach of trust in respect of Treasury Bonds to the face value of Rs 10.058 billion (against Samarasiri)
  • Criminal misappropriation in respect of Treasury Bonds to the face value of Rs 5 billion (against the PTL)
  • Abetting the PTL to commit criminal misappropriation (against all the other suspects)
  • Committing insider dealing by the PTL
  • Abetting the PTL to commit insider dealing (against all the other suspects)

 K.S. Udaya Kumar 11:34 AM Jun 29 2019

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