{"id":42170,"date":"2015-03-10T12:41:18","date_gmt":"2015-03-10T19:41:18","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=42170"},"modified":"2015-03-10T12:41:18","modified_gmt":"2015-03-10T19:41:18","slug":"fraud-in-50-days-no-fraud-involved-in-treasury-bond-issue-ravi-karunanayake","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2015\/03\/10\/fraud-in-50-days-no-fraud-involved-in-treasury-bond-issue-ravi-karunanayake\/","title":{"rendered":"FRAUD IN 50 DAYS!!! -No fraud involved in Treasury Bond issue \u2013 Ravi Karunanayake"},"content":{"rendered":"

The entire business community was shocked with the blatant abuse of power of the new Central Bank Governor Arjuna Mahendran to help his son-in-law Arjun Aloysius, resulting in the fund losing over 2 billion Rupees.<\/p>\n

The story is that the Central Bank’s recently announced 30-year Bond indicative rate has jumped from 9.5% to 12.5%. Perpetual Treasuries Capital (Pvt) Ltd, owned by and CEO is Arjun Aloysius, has bought and resold the bonds and made millions if not billions on the same day. Looks like an insider deal.<\/p>\n

The main bidder,\u00a0Mahendran\u2019s\u00a0son-in-law who bid at 12.5%, obviously had inside information and\u00a0as a result gained high profits, where as the banks and the other financial institutions who made their bids according to the public information given by Central Bank lost out to the company owned by his son-in-law.<\/p>\n

Also, during the last week several 5-10 year bonds at low rates were sold by CB Governors\u2019 son-in-law Arjun\u2019s company and reinvested in the 30 year bond, because he had inside information from the Central Bank that the rates would go up to 12.5%.<\/p>\n

Evidence of the unbelievable Bond rate:<\/p>\n

http:\/\/www.cbsl.gov.lk\/pics_n_docs\/latest_news\/press_20150227.pdf<\/a><\/p>\n

Before appointing Arjuna Mahendran as Governor of Central Bank, were not Prime Minister Ranil Wickramasinghe aware of his connection with Raj Rajaratnam? The Central Bank now directly comes under Ranil Wickramasinghe’s Economic Affairs and Policy Planning Ministry.<\/p>\n

Current CB Governor Arjuna Mahendran is a childhood friend of Raj Rajaratnam as admitted by him.<\/p>\n

Here is evidence: http:\/\/archives.dailymirror.lk\/2005\/07\/12\/ft\/15.asp<\/a><\/p>\n

Moreover, current Finance Minister Ravi Karunanayake alleged to have received US $3 million from Raj Rajaratnam contravening exchange control regulations few years ago. The case is being heard in Sri Lankan Courts.<\/p>\n

Raj Rajaratnam, who was a major financier of the terrorist outfit LTTE, was sent to U.S. Jail for insider trading in New York.<\/p>\n

\u00a0No fraud involved in Treasury Bond issue \u2013 Ravi Karunanayake<\/h2>\n

Meanwhile Finance Minister Ravi Karunanayake said \u00a0today that there has been no fraud involved in the Treasury Bond issue of the Sri Lanka Central Bank which continues to receive allegations and the government has appointed a committee to inquire into this issue,<\/p>\n

While stating this during a media conference at the Finance Ministry this morning (10 March) the finance Minister added that bond issues are carried more transparently now.<\/p>\n

Some are trying to gain undue advantage through this. Nothing wrong has happened here. There were only private placements so far. We have tried to do away with private placements and bring more transparency.<\/p>\n

We have appointed a committee for this. To those who raise unnecessary questions, we only say not to play with a clean administration,\u201d said Finance Minister Ravi Karunanayake while responding to the allegations over the Treasury bond issue.<\/p>\n","protected":false},"excerpt":{"rendered":"

The entire business community was shocked with the blatant abuse of power of the new Central Bank Governor Arjuna Mahendran to help his son-in-law Arjun Aloysius, resulting in the fund losing over 2 billion Rupees. The story is that the Central Bank’s recently announced 30-year Bond indicative rate has jumped from 9.5% to 12.5%. Perpetual […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-42170","post","type-post","status-publish","format-standard","hentry","category-forum"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/42170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=42170"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/42170\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=42170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=42170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=42170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}