Bond scam: Did not cause any loss to the govt – says Perpetual Treasuries CEO

Bond scam: Did not cause any loss to the govt – says Perpetual Treasuries CEO

Written by Keshala Dias

18 Sep, 2017 | 8:51 pm

The Chief Executive Officer of Perpetual Treasuries Limited claims they did not cause a loss to the government. The re-examination of Kasun Palisena, the Chief Executive Officer of Perpetual Treasuries Limited continued today.

He stated that Perpetual Treasuries Limited will always seeks funds from any market player including the Employees Provident Fund.

It came to light that Perpetual Treasuries Limited, entered into switch transactions through DFCC Bank, to enter into transactions with the EPF, HSBC, NSB, Sri Lanka Insurance Corporation and CitiBank.

The Attorney General’s Department said it challenges the documents produced by Perpetual Treasuries Limited, and questions if Perpetual Treasuries Limited transactions are entered in the Lanka Secure System.

Kasun Palisena, the CEO of Perpetual Treasuries Limited disagreed when the Deputy Solicitor General suggested that Perpetual Treasuries Limited documents cannot be cross-checked with the Lanka Secure System.

He pointed out that the Capital Gains produced in documentation were not of Perpetual Treasuries Limited but of their clients including W. M. Mendis & Company Limited.

However, the Attorney General’s Department noted that they were bogus transactions.

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