Bond Scam RECAP: The Mahendran – Palisena connection (VIDEO)

Bond Scam RECAP: The Mahendran – Palisena connection (VIDEO)

Bond Scam RECAP: The Mahendran – Palisena connection (VIDEO)

Written by Lahiru Fernando

21 Dec, 2017 | 10:25 pm

Today in our Central Bank Bond Scam Recap story, we examine the connection between the then-Central Bank Governor Arjuna Mahendran and Kasun Palisena, the CEO of Perpetual Treasuries Limited (PTL).

During the time starting from January 23, 2015 -to June 20, 2017 – Arjuna Mahendran and Kasun Palisena have shared 27 calls & 7 Text Messages between them.

CID’s Forensic Report on Communication Information Analysis

According to the CID report, Mahendran has not communicated with any other Chief Executive Officer of other stand-alone primary dealer companies during the time.

As revealed by this report, some of the calls had taken place on the Settlement Date of Treasury Bond Auctions.

One such call had taken place when the former Governor, members of the Monetary Board, and officers of the Public Debt Department were called before the 8th COPE – on April 2, 2016.

He also was in contact with Surani Neangoda and Surendran Muthurajah -who are directors of PTL.

In addition;

19 calls with Sangarapilla Pathumapanpan – Employees Provident Fund’s former Superintendent

30 calls with Saman Kumara – the Former Chief Dealer of EPF.

Annual Profit of PTL

Speaking to the media, JVP MP Sunil Handunnetti recalled a revelation made at the Bond Commission.

Perpetual Treasuries made an annual profit of Rs. 5.31 Billion.

Handunnetti stated that around 70% of the Pradeshiya Sabhas and Municipal Council in Sri Lanka “don’t even have a revenue of 10 million”.

He went on to say that even if some of these local government bodies function for 531 years, they will never be able to achieve this revenue.

“However Aloysius’ Perpetual Treasuries earned this sum as a profit in one year.” – he added.

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