Central Bank Bond Scam – 6.8 billion profit in six months?

Central Bank Bond Scam – 6.8 billion profit in six months?

By Lahiru Fernando

Jan 10, 2017 | 11:40 pm

 On Saturday, January 7, Perpetual Treasuries Ltd. published their Financial Statement, as required in the Central Bank regulations.

According to the statement, the primary dealer who is at the very centre of the Central Bank bond controversy – has upped its after-tax profits to Rs. 6.8 billion during the six month starting from March to September 2016.

Net Profit

> 2015 Financial year : Rs. 59 Million
> 2016 Financial year : Rs. 5124 Million

Assets

> March 31, 2016 – Rs. 1184 Million
> September 30, 2016 – Rs. 2332 Million

Speaking on the issue, Wasantha Samarasinghe (Convenor – Voice Against Corruption) said:

“… It was Perpetual Treasuries Ltd that robbed from the Central Bank and the EPF. Here is the 6.815 billion rupees that was looted. Find out from where these funds came from.”

The VAC convenor Samarasinghe pointed out that PT has purchased media institutions and commenced news papers,  “in an attempt to launder money through it.”

Wasantha Samarasinghe stated that if disciplinary action is not taken by the Central Bank Governor or the Monetary Board, investigations into the incident will commence over the misuse of public funds, when the tenure of the current government ends.

“You will have to weep at the FCID to save yourselves ….” he added.

Meanwhile UPFA MP Bandula Gunawardena has said that “… Ranil Wickremesinghe is operating as a Fascist Dictatorial ruler.”

The MP accused the Prime Minister of turning Sri Lanka’s economy “upside down” and not taking any action against his close associates.

MP Gunawardena also stated that the former Central Bank Governor Arjun Mahendran’s  son-in-law Arjun Aloysius increased his assets to Rs. 23 Billion “through the Central Bank bond scam”.

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