Another loss through the bond scam

Another loss through the bond scam

Written by Keshala Dias

21 Jun, 2018 | 1:30 am

COLOMBO (News 1st) – Convening a media briefing today (June 20), the Executive Director of Center for Human Rights and Research in Sri Lanka Keerthi Tennakoon spoke about yet another alleged fraud that has been committed in conjunction with the infamous bond scam.

Tennakoon said a value close to Rs. 880 million or more, belonging to the UGC Provident Fund, has been fraudulently obtained and spent through the bond scam.

According to Keerthi Tenakoon, Perpetual Treasuries Ltd. (PTL) bought bonds at a price of Rs. 112 and shortly afterward sold it to another party at a rate of Rs 121. The other party had been the UGC provident fund that had made the purchase through the National Savings Bank (NSB).

Tennakoon noted that while PTL made a profit of Rs 9 per bond through this sale, another sale took place. He noted that PTL also sold the same bonds to the Deutsche Bank ar roughly the same time with a profit margin of only one ruppee.

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