Bond Scam: Three other big fish yet to be investigated – Why?

Bond Scam: Three other big fish yet to be investigated – Why?

Written by Lahiru Fernando

08 Oct, 2017 | 8:03 pm

Keerthi Tennakoon

  • Civil activist
  • A voice against corruption
  • Executive Director of the Campaign for Free and Fair Elections
  • Expert on media and communications
Keerthi Tennakoon

Keerthi Tennakoon

Malik Samarawickrema – Minister

Kabir Hashim – Minister

Arjuna Mahendran – Central Bank Governor

Ravi Karunanayake – then-Minister of Finance

“The people of this country need to know why no effort is being made to investigate the veracity of this statement and make inquiries from Ministers Malik Samarawickrema and Kabir Hashim”, said Keerthi Tennakoon.

Rusiripala Tennakoon

  • Former Chairman of the Bank of Ceylon
  • Expert on banking
  • Anti-corruption activist
Rusiripala Tennakoon

Rusiripala Tennakoon

“On the evening of the 29th, once the bond auction was concluded, a Deputy Governor of the Central Bank; Samarasiri, whose name has been mentioned several times already, did something incredible.”

What is this incredible thing? –  Rusiripala Tennakoon stated that as soon as the bonds were issued, he (Samarasiri) said that there were plans to hold a foreign bond issuance of US$ 3 Billion.

Senior Banker Rusiripala Tennakoon charged that information which should have been made available to the entire market in the morning, was not given to them.

“Instead Perpetual Treasuries was allowed to reap maximum benefit with the highest interest rates.”

Mr. Rusiripala added that later that day, the Deputy Governor announced information held by the Tender Committee.

“For whose benefit was this done? During the COPE meetings, MP Ajith Perera said clearly that the dissemination of this information was delayed and reported in this resulted in maximum benefits in purchasing bonds for Perpetual Treasuries.”

So, What was the loss caused to the banking system as a result of the instructions to bid low at the auction?

“It is difficult to make a definite estimate,” said Mr. Rusiripala, adding “but we can clearly comprehend that all three state banks were denied an opportunity to earn an income for their investors, as a result of following the instructions of then-Minister Ravi Karunanayake.”

Lacille De Silva

  • Former Senior Administrative official in the Legislature
  • Former Secretary of the Presidential Commission of Inquiry into Serious Acts of Fraud and Corruption
  • An anti-corruption activist.
Lacille De Silva

Lacille De Silva

The Former Secretary of PRECIFAC says that the Prime Minister Ranil Wickremesinghe, Min. Kabir Hashim and Min. Malik Samarawickrema should be investigated despite the positions they hold. “If there is any involvement, it must be investigated”,  he added.

 De Silva also commented on the attempts to appoint the former Deputy Governor Samarasiri as an adviser to the Prime Minister, saying it is ‘shameless’ as he was the Tender Committee Chairman during the Bond Scam.

“We question whether they are gathering the thieves to carry out another theft, or if they only give jobs to thieves.”

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