15 December, 2017

Blog

Arjuna Mahendran’s Bond Scam May Crack Coalition Into Two

Slight cracks in the Yahapalanaya Government have surfaced just days since the COPE report on the Central Bank Treasury Bond was released, with ministers from the Sirisena camp threatening to involve the Interpol amidst reports that ex-Governor of Central Bank, Arjuna Mahendran has fled the country.maithripala-and-ranil-pic-via-maithripala-sirisenas-facebook

Highly placed political sources said that the COPE report was the ‘talk of the town’ during the weekend between SLFP and UPFA MPs, and many had expressed their displeasure over the fact that Mahendran had left the country just before the COPE report was presented.

“Some of the ministers have already spoken to President Maithripala Sirisena in this regard, and they have requested him to pressure Prime Minister Ranil Wickremesinghe to guarantee that an impartial investigation against the scam at Central Bank will be conducted,” the source told Colombo Telegraph.

The ministers from the SLFP and UPFA camps are adamant that this matter be not swept under the carpet, and they fear that the UNP will work in a way to scuttle the investigation, if launched.

Amidst allegations that he has fled, Mahendran has claimed that he hopes to return to Sri Lanka soon. On the eve of the COPE report being presented, Mahendran in his official Facebook page said, “I deny reports that said I have fled the country, when I have in fact left Sri Lanka on a personal tour. I hope to return to my motherland soon.”

Meanwhile, a group of frontline Ministers from the Yahapalanaya government are also scheduled to meet the President to discuss the COPE report, and the future course of action. The JHU has also expressed its support to the SLFP/UPFA camp and have insisted that an investigation against the scam be launched immediately.

“Some of the ministers are adamant that action must be taken, even though Prime Minister is also accused of being involved in it. But, it’s a very sensitive matter because both parties need each other to survive, so it will be very interesting to see how the President will respond to this, and if he would actually uphold the transparency and good governance he promised before January 8, 2015,” the source noted.

Meanwhile, Minister of Fisheries and Aquatic Resources Mahinda Amaraweera, who is also the General Secretary of the United Peoples Freedom Alliance (UPFA) has declared that the government was ready to use even the assistance of Interpol to bring back Mahendran, if he doesn’t return back to Sri Lanka. He had made this statement at an event held in Hambantota where he had also insisted that the culprits behind the bond scam will be punished.

The 55 page report by the Committee on Public Enterprises (COPE), which was presented by the Committee chairman Sunil Handunnetti on October 28 found Mahendran guilty as he was directly responsible for the Treasury Bond transaction at Central Bank in 2015 and 2016. The scam resulted in the country losing Rs. 1.6 billion, while primary dealer of Central Bank, Perpetual Treasuries Limited, which is linked to Mahendran’s son-in-law Arjun Aloysius, recorded a profit of Rs. 5.1 billion for the year that ended in March 2016, an increase of 430% in profits in comparison to the previous year. ( By Munza Mushtaq )

Print Friendly, PDF & Email

Latest comments

  • 5
    6

    Yes along with this fiasco how can an uneducated joke character like Weerawansa stop reporting of a young mans death at his mansion?
    Right to information? NEVER?

    • 0
      1

      Please, please don’t get politic involved in this issue, if there is a dispute, let the court settle it. Politicians please focuse your self in developing the country, instead of playing tag-a-war…

  • 7
    1

    The president must realize that this issue is not about the stability or existence of the govt: but the credibility of the state/president and the aspirations of the people who believed and supported him for good governance resulting Ranil to become PM. It is a fact that Ranil would never have become pm on his own if not for Sirisena. President must act decisively and take steps to punish the culprits on the COPE issue without thinking of the stability of the govt:

    • 6
      1

      How about the President putting his own house in order first? What happened to the investigation into the attack at the Colombo night club?

  • 5
    6

    We must applaud Mr Handunetthi for his splendid job.It will however will damage RW’s reputation which is bad for the country that will now split the coalition and let in the bad guys. Country has to choose the better of the devils.
    We seems to have no honest people to run the country.

  • 8
    4

    This is the beginning of end of RW. He is no longer Mr.cleen. He is involved in this fraud from very beginning. He is the one who appointed Arjun and shielded him. No wonder juniors in his party tried to protect him in COPE

    • 0
      1

      Do you have anyone else in mind to replace him? Those who live out of the Ambde and haunt temples can’t face the modern challenges of this day and age. Better stick with the devil we know and make sure is not off line. He seems to be suitable for this challenge, his dress code gives us some confidence.

  • 2
    1

    The dream of TNA’s secret solution may going to be ditched too.

    Coalition government came into into exist to neutralize Secretary Kerry’s threats. It was agreed to only for two years. The time from Janaury, 2015 for Secretary Kerry go home. The original object is successfully fulfilled. Secretary Kerry is being send home with well wishes. The members of the coalition is are conscious of their that too. So a natural divorce is possible. But. a consensus divorce seems to be impossible because Chaitanya does not get along with Yahapalanaya.

  • 6
    2

    This is the mistake Ranil always make. He appoints “parachutist” to key positions and even before he knows they mess things up for him. Bond scam resulted in the UNP not getting a majority in the general elections. Ranil will never learn a lesson. I think he is on the verge of losing the premiership for the fourth time and is set to create a guinness record.

  • 0
    4

    Just as much as a good amount of the population feel that Jarapassa and Co was up to no good it is felt that the two Arjunas (Father and the son in laws) enriched them selves unjustly with a support given by Ranil, and as well as Prez Sira covering his son for damaging a club in the Mervyn Silva style.

    In this cold war of Prez and the PM to nail each other down, gets hold of the dirty linen of each other. There is no necessity for the Prez to cow down to the PM for an impartial investigation as per the request of the ministers when he has the PRECIFAC as a tool. Now The scope of PRECIFAC can be extended to cover activities of the Central Bank if a real fact finding is required.

    When I voted to throw Jarapassa out I did not expect a massive suck of the national resource in such a short time although I expected that there would be some skeletons in the cupboards of some by the fifth year.

  • 5
    3

    By the way what will happened dozens of issues MR and crooks did..!
    To cover up them recent bond issue become an icing.

  • 4
    4

    James Banda (Ranil Wickramasinga) is nothing but a joker

  • 3
    2

    RW played the shape game for “N” years when in opposition as his decisions didn’t impact the country. The media friendly to him was used to portrait him as an Economic expert and Mr. “Clean”. Now it is different as he is in the driving seat and taking decisions knowingly or unknowing to screw the country.

    Prior to the Presidential elections at a business leaders forum compered by “Pandit” RMS Fernando (Where is this Joker now?), this arrogant idiot shaking his legs went on to brag how he was going to negotiate terms of the loans directly with the WB head offce in DC and not with the jokers at the Colombo WB office. What foolish statement who is the real joker now anybody’s guess? Ultimately he had to go on knees begging to China.

    RW and Gamarala please act soon to bring back good governance to the people otherwise the people will be on streets soon. Both of you are providing more and more ammo to Mahahora and the thieves from H’tota.

    • 1
      2

      Now that Gamarala and his minion(?)Batalanda got caught with their hands in the POT what about those thefts that the “so called “Mahahora”and his thieves have supposed to be done? Except of course the ‘pipes’ and the ‘silredi’s

  • 2
    1

    What ever we say or do mustn’t let the days haunt us once again.

  • 3
    0

    Both these two leaders must learn one aspect which they haven’t learnt still. Despite all their experience in politics they are novices in administrative matters and good governance.

    That one aspect they need to learn and always follow is simple philosophy of DOING THE RIGHT THING -always.

    All of Ranil’s actions so far in this matter have smacked of flippancy. His behavior has been almost jocular. HIs attitude – almost cavalier. There is no gravity or concern expressed, there is not a word from him of unacceptability.

    Ranil will have to pay the price for all of this. It might be sooner than one might expect, even though it is clear he doesn’t think so. That might be a real shame because he could have done much for the country. But he cannot survive unless he sheds his arrogance which is so plainly seen by all but him.

    Both our leaders are not sagacious, and far less than the statesmen we thought them to be.

    This is indeed a VERY poor nation.

  • 2
    0

    ranil looks like he wants to go to the bathroom urgently,but can’t because sirisena is by the side and will take all the limelight.makes him very angry.

    • 0
      0

      o on second thoughts ranil looks like he wants to throttle sirisena and that is making him want to go to the bathroom urgently,but he can’t.Double whammy.

Leave A Comment

Comments should not exceed 300 words. Embedding external links and writing in capital letters are discouraged. Commenting is automatically shut off on articles after 10 days and approval may take up to 24 hours. Please read our Comments Policy for further details. Your email address will not be published.