Peace for the World

Peace for the World
First democratic leader of Justice the Godfather of the Sri Lankan Tamil Struggle: Honourable Samuel James Veluppillai Chelvanayakam

Sunday, March 26, 2017

Another report confirming bond scam released

Take action against Arjun Aloysius: COPE

March 26, 2017

Another audit report that states the extent of the bond scam committed when Arjun Mahendran was the governor of Central Bank has been released. According to this report it is revealed that the EPF has incurred a loss of Rs. 9.6 billion due to the relevant bond auction.
A similar internal audit report had been presented to the Monetary Board by the present Governor of Central Bank Dr Indrajit Coomaraswamy. However, the copies of the report distributed among members of the Board were later collected back to prevent them from being made available outside the Bank.
According to this report the EPF had incurred a loss of Rs.11.9 billion due to Arjun Mahendran’s bond scam. The convener of Voice Against Corruption (VAC) Wasantha Samarasinghe said several matters that lead to suspicion have surfaced due to the release of two reports.
He says the Governor of Central bank should explain whether the audit report stating Rs. 9.6 billion and the one stating a loss of Rs.11.9 billion released by Dr. Coomaraswamy were two separate reports or the first is an amended report of the second. Mr. Samarasinghe says if the reports are different it means the EPF has incurred a loss of Rs.21.5 billion due to Mahendran – Aloysius bond scam.
The profit of Perpetual Treasuries Ltd. From 1st January to 31st March, 2015 had been Rs. 959 million. However, the profit of the 12 month period from 1st April, 2015 to 31st March, 2016 had increased to Rs.5,124 million. Again the profit during the period from 1st April, to 30th September, 2016 has risen to Rs. 6815 million. Businesses in this field have to release their financial reports every three months. However, Perpetual Treasuries has not done so. The company has gained a profit of Rs. 12,628 million within 21 months.
According to the statistics it is evident that Perpetual Treasuries Ltd. has gained a colossal profit after the bond auction of the Central bank and it has been proved that the profits the EPF should get is being spuriously absorbed into Perpetual Treasuries Ltd. Says Mr. Samarasinghe.
He says legal action should be taken against the fraudsters and the money plundered should be recovered, the Governor of Central Bank Dr Indrajit Coomaraswamy should explain to the country immediately regarding the two audit reports on the bond issue and the country should be told how the loss due to the scam would be recovered.
He said masses would be rallied to take stern action if the authorities fail to punish the culprits and recover the stolen money.