CB Treasury bond deal deepens WILL ARJUNA SURVIVE? Report to PM on 10 April
Posted on April 4th, 2015

Courtesy Ceylontoday

The three-member committee which probed the controversial Treasury Bonds deal of the Central Bank has concluded inquiries and the report will be handed over to Prime Minister Ranil Wickremesinghe on 10 April, authoritative sources said yesterday.

Highly placed very reliable sources disclosed that according to the findings of the committee the crisis has deepened with political circles keeping fingers crossed about the future of incumbent Central Bank Governor Arjuna Mahendran.
Sources said the committee reportedly has found many ‘grey’ areas and added that the crisis had deepened forcing the intervention of the authorities to think on remedial action.
The three-member committee comprised Gamini Pitipana (Chairman), Mahes Kalugampitiya and Chandima Mendis.
Prime Minister Wickremesinghe appointed the three-member legal team to probe the crisis after it was brought to the notice of Parliament. Some sections leveled allegations against the Prime Minister stating that Wickremesinghe had appointed three lawyers close to his party. However, the Prime Minister maintained he had confidence in that committee. He announced to the House that the Central Bank Governor would be on leave till the probe was over.
Prime Minister Wickremesinghe earlier told Parliament that he would table the committee report once it is handed over to him.
The Governor was probed for alleged ‘insider dealings’ for reportedly helping his son-in-law Arjun Aloysius’ company ‘Perpetual Treasuries’ to get unfair advantage in a Rs 10 billion Treasury Bond transaction.
Sources said the three-member committee which probed the scandal has detected violations of the State financial regulations and the Statutes of the Central Bank in the execution of this shady deal.

3 Responses to “CB Treasury bond deal deepens WILL ARJUNA SURVIVE? Report to PM on 10 April”

  1. Ratanapala Says:

    Pray tell us whether these funds can be recovered or it another one similar to the Hedge Fund disaster, for which the people of Sri Lanka has to foot the bill. Are Citizens of Sri Lanka are left to lick the crappy fingers – like the proverbial cat that crapped on stone!

  2. crobe Says:

    This just in –

    The committee of 3 has detected violations of the state financial regulations and the statutes of the Central Bank in the execution of this deal. However, with the expertise that the committee of 3 possess in dealing with intricate financial instruments/state financial regulations/statutes of the Central Bank, they have concluded that Governor Mahendran is innocent of all charges brought against him and should be reinstated to his post immediately with back pay and perks in addition to several billion rupees in punitive damages for the grief caused to his stellar reputation and professional integrity, notwithstanding his lifelong friendship with US financial guru Raj Rajaratnam.

    The committee has determined that the root cause of the problem is the former Mahinda Rajapaksha government. Therefore, they have recommended that charges be brought in against the previous government including the former President. Furthermore, the committee has concluded that Arjun Aloysius is a financial genius for predicting such a scenario and should be allowed to keep the money he legitimately made on the deal.

    Finance Minister Ravi Karunanayake and Dr. Harsha De Silva have stated that they never doubted the integrity of the CB Governor and that they are ecstatic that Mr. Mahendran has been exonerated of all charges and that their faith in the CB governor and the committee of 3 has been vindicated. Additionally, per the recommendation of the committee of 3, immediate charges will be brought against Mr. Rajapaksha and his cronies and the stolen monies of the taxpayers recovered.

  3. Fran Diaz Says:

    May the gods save us from this present illegal & boru govt. I do not think Lanka people who have been mashed time and again by various external forces, deserve this.

    Are the main rulers carrying out a personal vendetta against the People of Lanka even more than against the former MR govt. If they are joking (April Fool type of tomfoolery), then say so to the People. We are sick of this govt.

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