PM speaks on financial fraud and Parliament

PM speaks on financial fraud and Parliament

PM speaks on financial fraud and Parliament

Written by Tharushan Fernando

22 May, 2015 | 9:43 pm

Prime Minister Ranil Wickremesinghe, speaking at the UNP Headquarters on Friday, stated that large scale fraud that had taken place at the Colombo Stock Exchange and treasury bonds during the previous regime will be exposed to Parliament.

He added that a committee has been appointed to look in to the Central Bank and that the committee was appointed to look into whether a fraud took place in the auction over Rs.10 million in the  month of February and that the matter was taken up by the Supreme Court.

He added that this matter was taken with transparency and given to the Parliament and it has now been presented to COPE.
He also added that there has been an inquiry over Rs.10 billion  and everything was done according to the wishes of various associates and there was no transparency in the procedure. He went on to add that the mentioned associates did not follow the public auction and submission to the Tender Committee and purchased the bonds directly and personally and it was available to be used at their pleasure.

He further stated that almost Rs. 2700 million were skimmed and the earning on this is even more. He also noted that over five years this money has been put in stocks and in markets and the profits reaped are unknowingly large.

He went on to add that he has instructed the the Central Bank to inquire in to this and provide all the information required to expose this to the Parliament and also to expose those who committed it.

When questioned about the manner in which MP Vasudeva addressed the Parliament on Thursday, the Prime Mnister added that this is the way these  ‘defeated people’ will tend to behave and compared the MP to a dried pumpkin

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