SEC investigation clears Pradeep Kariyawasam

Monday, 08 October 2012 

The investigations unit of the Securities and Exchange Commission (SEC) has stated that evidence had not been received to prove that former Chairman of the National Savings Bank (NSB), Prdeep Kariyawasam had taken any bribes in the NSB’s controversial purchase of The Finance shares, SEC sources said.

Although the Colombo Stock Exchange mafia and the Head of the SEC had intended to conclude the investigation in a manner where Kariyawasam would have been held accountable, the former director of the SEC investigations unit and the new SEC Director General, Dhammika Perera had informed the relevant stakeholders that it was not possible.

Perera had pointed out that one of the leaders in the stock market mafia, Raynor Silva would also be made a co-witness if charges were to be leveled against Kariyawasam.

SEC head, Nalaka Godahewa has asked the investigations unit to stop probing any corruption charge against Kariyawasam and to hand over the relevant files to the Attorney General’s Department for advice.