21 May, 2019

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Bond Scam: Mr. Prime Minister, Facts Are Stubborn! 

By Rusiripala Tennakoon –

Rusiripala Tennakoon

“You can fool all the people some of the time and some of the people all the time, but you cannot fool all the people all the time..”   Abraham Lincoln

Hon. Ranil Wickremesinghe was the Minister in charge of the CBSL when the infamous Bond Scams were perpetrated there in 2015 February and 2016 March.  He still continues as the Minister in charge of the CBSL. He is also the Prime Minister of the country.

A Presidential Commission of Inquiry has completed an investigation and the findings of the Commission are now published in a report by them.

During the court proceedings now in progress (according to action taken by the Attorney General), many revelations concerning direct involvements of politicians, parliamentarians and even Ministers of the Government keep on surfacing causing alarm and shock waves among the public.

One of the main persons responsible for the wrong doing wanted by the Courts for judicial action is evading arrest. He is the former Governor of the Central Bank of Sri Lanka who served there until the completion of his term even after the Bond Scam was exposed. The persons responsible for his appointment, continuation in office amidst various public protests and reprimands by Parliamentarians, are maintaining a dead quietness about his disappearance from the scenario.

Public have a right to raise an issue in this regard. Isn’t there any responsibility falling on those who made this very special appointment amidst heavy objections and criticisms to produce him for purposes of jurisdictional.

In the context it is relevant to recall certain references made in this regard at different forums.

First we will quote from the Presidential Commission Report:

CHAPTER 26

THE HON. PRIME MINISTER’S ROLE IN MATTERS RELEVANT TO OUR MANDATE

Mr. Arjuna Mahendran was appointed the Governor of the CBSL, on 23rd January 2015. 

Thus, the appointment of Mr. Mahendran was made before the period of our Mandate commenced and we have no jurisdiction to determine the merits or demerits of that appointment. 

However, we cannot be insensible to the fact that, there have been concerns expressed in the public domain with regard to the propriety of Mr. Mahendran’s appointment following reports of his alleged intervention in the Treasury Bond Auction held on 27th February 2015 and his relationship with Mr. Arjun Aloysius who has close connections with Perpetual Treasuries Ltd, which obtained the lion’s share of the Bids accepted at that Auction. 

Concerns have also been expressed in the public domain, with regard to whether the fact that, Mr. Mahendran is not a Citizen of Sri Lanka, made it unlawful or unsuitable for him to have been appointed the Governor of the CBSL. 

Therefore, we decided to briefly look at these issues, though we will not, in view of the confines of our Mandate, venture to arrive at any determination on these issues. 

When Mr. Mahendran gave evidence before us, he stated that, he had been working in Dubai in January 2015 and that, he had received a telephone call from the Hon. Prime Minister, Ranil Wickremesinghe, MP, who had invited Mr. Mahendran to accept appointment to the office of the Governor of the CBSL. 

In these circumstances, the Commission of Inquiry asked the Hon. Prime Minister whether he had invited Mr. Mahendran to accept appointment as the Governor of the CBSL. In reply, the Hon. Prime Minister stated, “Yes. It is correct that sometime in January 2015, I Invited Mr. Arjuna Mahendran to serve as the Governor of the CBSL of Sri Lanka (CBSL).”

In this connection, we note that, the Hon. Prime Minister is also the Minister of National Policies and Economic Affairs under which the CBSL has been placed. 

Next, in view of the requirements of Section 12 (1) of the Monetary Law Act which states that, an appointment of the Governor of the CBSL has to be made by the President on the recommendation of the Minister of Finance, the Commission of Inquiry asked the Hon. Prime Minister whether Mr. Mahendran was appointed on recommendation made by the then Minister of Finance and/or on a recommendation made by the Hon. Prime Minister, as the Minister of National Policies and Economic Affairs under which the CBSL has been placed. 

The Hon. Prime Minister replied, “Upon the formation of the new Government in January 2015 there was a general consensus within the Government that Mr. Mahendran should be appointed to the post of Governor of CBSL. I discussed the proposed appointment with the then Minister of Finance who agreed that Mr. Mahendran was the most suitable candidate. Accordingly, the then Minister of Finance with my concurrence recommended to His Excellency the President that Mr. Mahendran should be appointed. His Excellency the President acting upon the said recommendation appointed Mr. Arjuna Mahendran as the Governor of the CBSL.”

Thereafter, the Commission of Inquiry asked the Hon. Prime Minister the reasons why he considered Mr. Mahendran to be a fit and suitable person to be appointed the Governor of the CBSL. 

In reply, the Hon. Prime Minister stated, “Mr. Mahendran was selected for appointment in view of his professional qualifications and experience in the field of banking and investments. He had functioned as the Chairman of the BOI during the period 2002 to 2004. He has also held senior positions in the banking industry in Middle East and Singapore. The previous incumbent lacked comparable qualifications and experience and the administration of the CBSL during his tenure of office had been subject to severe criticism. Hence, prior to the General Election of 2015 there was a general demand from our political allies that a competent person versatile in banking and International finance should be appointed to the post of Governor of the CBSL.”

In these circumstances, it is apparent that, the question of whether or not the fact that, Mr. Mahendran was not a Citizen of Sri Lanka precluded him from being appointed the Governor of the CBSL was not a “Question of Law”. Instead, it was a “value judgement” which had to be made by those who considered the wisdom of appointing Mr. Mahendran, who was not a Citizen of Sri Lanka, as the Governor of the CBSL. 

In passing, we would also mention that, prior to 2015, the CBSL was placed under the Ministry of Finance. In 2015, the CBSL has been brought under the Minister of National Policies and Economic Affairs. 

That is a decision taken by the Executive which is entirely outside the scope of our Mandate. 

The question of conflict of interest was another matter dealt with in detail by the Commissioner of Inquiry.

The Hon. Prime Minister said he was aware that, Mr. Aloysius was the Chief Executive Officer and Director of Perpetual Treasuries Ltd and stated that, “When Mr. Mahendran was offered the post of the Governor of the CBSL, I insisted that he should ensure that Mr. Aloysius would resign as a Director of Perpetual Treasuries Ltd and not involve himself in the business activities of that company in anyway. I also strongly recommended that the best course of action would be for Mr. Aloysius to divest himself of his shares in the company. This was conveyed by me to both Mr. Mahendran as well as to Mr. Aloysius. Subsequently, I became aware that Mr. Aloysius had in the month of January itself resigned from the post of Chief Executive Officer and Director of Perpetual Treasuries Ltd. I also became aware that he remained a Shareholder of that company and he intimated that he would divest himself of the shareholdings as soon as possible. On expressing my concerns on this account, Mr. Mahendran reassured me that Mr. Aloysius would not under any circumstances play any role in the business activities of the company. I had every confidence in the assurances given by Mr. Mahendran and as such I had no reason to apprehend that any conflict of interest would be faced by Mr. Mahendran in functioning as the Governor of the CBSL.”

When the Commission of Inquiry asked the Hon. Prime Minister whether he subsequently inquired from Mr. Mahendran with regard to a potential conflict of interest, the Hon. Prime Minister replied, “I did on several occasions convey to Mr. Mahendran my concerns about a possible conflict of interest arising from his son-in-law Mr. Aloysius having a connection with a Primary Dealer. Mr. Mahendran as set out above reassured me that Mr. Aloysius would not engage in the activities of the company as indicated above. In view of the circumstances, I was confident as set out above that a situation of a conflict of interest would not arise.”

The Commission after considering all above facts have determined as follows:

The issue of whether a conflict of interest, in fact, arose as a result of Mr. Mahendran’s son-in-law, Mr. Arjun Aloysius, being closely connected to Perpetual Treasuries Ltd, has been considered in Chapter 25 of this Report. We have determined that, there was a conflict of interest which prevailed during Mr. Mahendran tenure as the Governor of the CBSL because Mr. Aloysius did, in fact, continue to remain actively engaged with the operations of Perpetual Treasuries Ltd, contrary to the assurances which Mr. Mahendran has repeatedly given the Hon. Prime Minister. 

Commission has also expressed the following as a view point in the report:

We consider that, the confidence which the Hon. Prime Minister states he placed in the assurances given to him by Mr. Mahendran, was misplaced. We are of the view that, the more prudent course of action would have been for the Hon. Prime Minister to have independently verified whether Mr. Mahendran was, in fact, honouring the assurances he gave the Hon. Prime Minister. We regret that, the Hon. Prime Minister did not take that course of action. 

The Hon. Prime Minister’s act of appointing an Investigation Committee of his choice has been critically viewed by many including the Members of Parliament.  The Commission has stated as follows:

We consider that, the position may have been different if the Committee or other body which carried out this Inquiry had the benefit of members who had knowledge and experience in the technical and practical aspects of the matter being inquired into.

Commission has made the following observation about a statement made by the Prime Minister in the Parliament on 17th May 2017.

Next, with regard to the Statement made in Parliament by the Hon. Prime Minister on 17th March 2017, in which he states, inter alia, that, Mr. Mahendran had not interfered in the Treasury Bond Auction of 27th February 2015, we have held that, the evidence establishes that, Mr. Mahendran and Deputy Governor Samarasiri, deliberately and mala fide, misled the Hon. Prime Minister and suppressed material facts and misrepresented the factual position when they reported the events relating to the Treasury Bond Auction held on 27th February 2015, to the Hon. Prime Minister and also when they submitted a Briefing Note to the Hon. Prime Minister, with regard to the events of that Auction. 

While we do not, for even a moment, presume to make any pronouncement on events that transpired in Parliament, we consider that, the Hon. Prime Minister would have been better advised, if he had independently verified what had happened at the CBSL on 27th February 2015, before making any statement, instead of relying on the Briefing Note and report submitted to him by Mr. Mahendran and Deputy Governor Samarasiri. 

Now the country is awaiting to see who would take the responsibility for 

  1. The fleeing away of Arjun Mahendran
  2. The accusations, allegations against MPs some of which have been admitted by MPs and Ministers for accepting gratifications from the principal accused parties of the scam.
  3. For the colossal loss to the CBSL and to the continuing adverse effects to the economy of the country.
  4. The various recommendations made by the Commission against several parties for the need of initating legal action. Eg. The former Minister Ravi Karunanayake.
  5. The fate of upright, conduct and behavior expected by the voters who elected these people under a democratic system to uphold and maintain principles of good governance.
  6. The statement of the Prime Minister to the Parliament without verifying the facts independently. 

Country should have answers to these issues soon before they decide on suitable candidates for the next election.

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Latest comments

  • 1
    0

    No worries . He will retire after next election.Legacy of corruption will be passed on to next PM and President..No worries Sri Lanka is on path for self destruction and economic suicide.. …….Now we are left to give more money to China… China bullied MR and family. Trapped them into this loan and interest trick. It does all over there world. China know who could they deviece and who can not do this.. They try some countries and failed. It picks up weak and vulnerable countries. Like us..
    No worries.. Do not blame them but blame yourself. Each one of you.. I mean each public who voted for them.. … You voted for them now you pay the price. after all. 50% of MPs do not have a GCSE. ? what do you expect. you could expect them to moorgate entire country to China. Do not blame them .. because it is you decide to vote for them… Unless you educated yourself on politics.. You will end up in bankruptcy. Sri Lanka gots some of best economists in the world. These politicians do not hire them for advice but they put their own friends and relatives into high post. Ex. Air Line and Central bank cases……Ranil thinks like his uncle . they own Sri Lanka .. He forget to see that he was elected by people for people …

  • 22
    5

    Will Dr Ranil be nominated for a Noble Prize in Economics for his work on How to create Wealth for Retirement Funds using Yahapalana Bonds?….

    • 17
      14

      Rajapaksa’s ball carriers should at least nominate RW for the Noble Prize for not letting the country drown and go bankrupt after the Rajapaksa’s and their ball carriers looted the country dry and increased the debt as never before.
      Country currently is in a higher debt level and will get worse before it gets better as the Rajapaksa’s borrowed with easy terms at the front end and loaded it at the back end.

      • 8
        5

        Who is this gent Rusiripala Tennakoon ……….. what is his claim to fame? What has he done in – or for – the country?

        Like the typical Lankan “Crime-fighting” Supermen he seems to have all of sudden woken from a Rip Van Winkle-en deep slumber.

        Although never seen him around ……. but If he fought the Rajapaksa family crime spree and the serial-killings of Gota with equal vigour ………. then pardon me for sullying the reputation of a great patriot.

        Anyway in the photo his face looks like the 225 other great Lankan patriots we have in the parliament doing yeomen selfless service for the nation ………..

        Where would Lanka be if we did not have these great patriots? ………..Perhaps smack in the middle of 21st century …….

        • 8
          2

          Nimal,
          Our great hero goes way back. He has been a trade union leader, chairman of BOC and Gem Corp, gem businessman, and now whistleblower (as seen on Sirasa). He regularly appears with such unbiased experts as Dayan J and Bandula Jayasekera.
          Since you don’t watch Sirasa, you haven’t seen him in action. You are a lucky soul.

          • 1
            0

            Nice humour OldCodger!😆

            This country sure needs new political leaders as it needs new analysts, and sure enough they won’t be unearthed by Sirasa.

      • 4
        3

        Thanks Mr. Tennakoon,
        RW should have been Impeached for corruption and Grand Larceny at the Central Bank along with Ravi K. Minister of Finance a long time ago. Question is why is JVP which exposed Bonds scam so coy on this?!
        Also, there is an international dimension to the Bond scam that needs investigation: with Washington’s Right wing Millennium Challenge Corp. (MCC) that drafts Bondscam Ranil’s economic policy( including Vision 2020), and IMF.
        MCC recently brought to Colombo, Ricardo Haussman from Harvard (where Sujiva Senasingha got free trips and drafted the book to justify Ranil’s Bond scam ).
        Haussman’s mission in Lanka was to promote US-SL Diaspora crooks and criminals like – Ranjan Hulugalle, director of Perptual Treasuries (with Arjun Aloysius and his father) , CIA weirdo Nilan Fernando (formally Asia Foundation, and today MCC), Gota Rajapaksa. Arjuna Mahendran, ICTA’s M. Kanagey etc. — for Lanka’s (Fake) development and bi-partisan UNP-SLFP corruption racket. Hausmann spoke at LKI last month!
        Also, Avant guard was gun running from Ukraine and Israel via Sri Lanka, after US citizen Gota Jarapassa, privatized the SL Navy;s Indian Ocean Marine Security arm to his US handlers.
        Just like Sira’s Russian MIGs and MR’s China Hambantota airport! Aid games are corruption rackets.
        Name of Washington’s game in Lanka: “Heads I win, Tails you loose! With Ranil or Gota as Prez!

        • 4
          2

          D S.
          Agree, RW and the UNP are solely responsible for this sordid scandal. It is clear that the UNP was broke to fight the election and they employed a brilliant tactic to fund the election cost by robbing the Central Bank to help finance most of its candidates who also managed to enrich themselves several fold.
          RW,KH,RJ,MS and many others are the masterminds of this successful master robbery which still appears as an enigma.
          It’s time that the do nothing President appoints a new PM to sort things out.This is doable.

    • 11
      7

      Hey Mr. Rusiri Pala,
      What happened to that open letter of yours? the one to the Singapore P.M? Addressee not found?

      • 5
        4

        We can go round and round about all these scams till kingdom come ………… and the only end-conclusion a rational adult can arrive at is ………….. that Mahinda Rajapakse is a better con-artist than Ranil Wickramsingha.

        Mahinda’s talents for deceiving the voter are better than Ranil’s. ……….. Ranil is not even in the ballpark.

        And the plight – if you can face it – of the 21st century Lankan is, ……….. they have to pick not between two statesmen but between two con-artists.

      • 5
        5

        Mr R Tennekoon having had his open letter returned is trying another bout of unsubstantiated mud-slinging. He has been challenged many times to come up with figures by readers such as Buddhadasa, but it is clear that he cannot.
        He talks about losses by the Central Bank, but just the other day he was slamming People’s Bank for paying high salaries to the contract employees who had made billions in profits for the Bank. A case of double standards??????

    • 4
      2

      Rusiripala Tennakoon

      “Bond Scam: Mr. Prime Minister, Facts Are Stubborn! “

      However your
      Comment is free, but facts are sacred – C. P. Scott.

  • 32
    3

    If this PM knew of the potential conflict of interest between Mahendran and his son in law in January 2015 by 2016 he would have realized that in fact Mahendran and son in law had committed a fraud at the Central bank using that relationship.IF the guy was honest he should have considered it a betrayal of his trust by Mahendran/Aloysious combination

    What did the PM do ? He tried to reappoint Mahendran for a second term as Governor !

    That failed because the President refused to reappoint him. What did the PM then do ? He appointed Mahendran as his special adviser on development matters and Singapore trade agreement !

    The conflict of interest is more than that. It is this PM who being a beneficiary/planner of the Bond scam who should not be dealing in any way with the Central Bank ,Police and other.investigations. This is like the rogue having robbed the bank, conducting the investigations and also running the country !

    • 13
      4

      A PM that did not have the common sense and basic intelligence to recognize a serious conflict of interest between the father in law and son in law does not deserve to hold this office of a PM. He is a pathetic individual whose IQ is ZERO, a moron, nincompoup. He was obviously given a vote of confidence by all the other rogues of the gang. Aloysius made sure Ranil got this vote by bribing 168 MPs or more one million ruppees each minimum; exactly how much more was given to them has yet to be revealed. We have a President in the country, only by name. He has no back bone, no authority and just a nikama. if not he must dismiss his PM, arrest him and charge him with betrayal and committing treason against the people of this country.This politicians that govern this country are the worst in the world, and these people hobnobbing with Chinese, American, British and Russian leaders, they have no shame, no conscience and no real blood in their veins. They are prethas and kumbaaandas. I am so disgusted!

    • 1
      0

      kola.
      Spot on.
      It is the PM and his cohorts who brilliantly masterminded this master robbery of The Central Bank.
      A proper judicial inquiry is essential to sort things out and it’s The Presidents duty to do so.
      Why is he silent?
      Is it because he is a lame duck President?

  • 27
    3

    It’s very well known that RW is solely responsible for appointing a thief to CB. He should resign

    • 10
      11

      “RW is solely responsible”
      Ha ha ha
      I got tears in my eyes laughing.

      “Lakshman Arjuna Mahendran is a Sri Lankan born, Singaporean economist and banker.[1] He is a former Governor of the Central Bank of Sri Lanka (CBSL), having been appointed by President Maithripala Sirisena in January 2015 and served until the end of his term in June 30, 2016.

    • 2
      0

      Banda.
      Resign is an understatement. The PM and his gang of RK,MS,KH,PT including Mahendran and others are the masterminds of this Central Bank master robbery to fund the elections and enrich themselves as well at a time when the UNP was financially broke to fight MR at the elections. This brilliant plan worked at a huge colossal cost to the country.

      It’s time that the President appointed another Presidential Commission expeditiously to sort this mess and put the culprits behind bars.

  • 13
    1

    Right now Ranil is trying to rewards Mosques, churces and Temples in his elelctorate MEda colomba and win his seat. so, he reamins the eternal party leader though now he is 67 years old.

    • 8
      7

      He still did not issue “Sil Redy” steal part of it or build Museum and Memorial for the family with public funds while the population is starving.

    • 10
      0

      Jim s,
      .
      67 years old, my foot!
      .
      69 years, 2 months, 21 days!
      .
      https://en.wikipedia.org/wiki/Ranil_Wickremesinghe

  • 11
    2

    President was elected in November 2014 If I remember correct. Ranil was still the previous govt’s elected and was not from a new govt. So, it is very clear that he pre planned the FRAUD. He did not fire RAVI the LIAR because both involved in the PRe palnning. some where it said, that Ranil asked RAvi the LIAR to get his money what he spent for the election (probably previous ones).

    • 10
      5

      Rusi the fake whistleblower rides again!
      “For the colossal loss to the CBSL and to the continuing adverse effects to the economy of the country.”
      For the umpteenth time, I challenge this “senior banker” as seen on Sirasa, to give us a clear estimate of this colossal “loss”.
      Surely it cannot be more than 13% of 10 Billion, which is what the CB has to pay out in interest. That amounts to 1.3 Billion p.a.
      That costs each of us Rs.48 p.a. for the sake of argument, but not really, because this is a loan, not a write-off.
      To put things in perspective,Sri Lankan Airlines costs us Rs.700 each. Hambantota port costs each citizen 1800+.
      Any idiot can see which is causing “continuing adverse effects to the economy of the country.”
      It is time Mr. Rusiri stopped flogging his dead horse. Surely even Killi Maharajah must have other things to talk about, like spectrum deals and ship deals?
      I hope our great banker can provide figures at least this time?

      • 1
        2

        LAC,
        I agree with most of what you say. But a little correction: The “loss” from the bonds is the increase in interest, which is 3%. Therefore it costs only Rs.4 per annum per citizen.

    • 13
      2

      Ranil has made several seriously silly mistakes which no seasoned politician would have ever made. With every passing day, his complicity in the overall cover up of the many ‘cock-ups’ can only get worse.

      ‘Resign or retire with honour’ is my humble advice, which of course would be totally lost on a man hard of hearing for a long time.

    • 1
      1

      Jim softy the dimwit

      “President was elected in November 2014 If I remember correct. “

      The president was elected on the 8th of January 2015.

  • 9
    4

    Singapore is admired as a country without corruption. Yet Sri Lankan politicians were clever enough to bribe the Singapore Government by signing the Sri Lanka-Singapore Trade Agreement which is really detrimental to Sri Lanka on the condition that Singapore Government will not send Arjun Mahendran to Sri Lanka to face trial. By doing so Singapore Government is protecting a thief suspected of robbing the Central Bank of Sri Lanka. Lee Kuan Yew is no longer there. Singapore Government will never send Mahendran to Sri Lanka to face trial.

  • 4
    1

    To call facts stubborn is Scrumblish.
    Facts are to be faced .

    I guess he is already facing it, its a bit to late for damage control .

    Its even better for him to step down now and appoint Sajith as The PM ,it will At-least prove that he still has gentleman ship in him.

    The more he stays on the more the selfdamage to be honest .

    And the stepping down may do a lot of good ,to kill ones ego is the victory of the greatest battle on earth ,the only prince born in a palace besides All the revered prophets & Christ ,who was ever able to do so was The Noble Buddha ,Our leaders talk and honor him in words ,but they are yet to grasp his most noble achievement which alone lead him to enlightenment

    He had to throw away his thrown and palace to achieve it ,which leader is willing to simply even give up a title !? Most of them want the seat forever and their secret desire is live forever & to rule forever .

    • 2
      0

      FK.
      This was a premeditated cleverly planned Central Bank Robbery which has got to be fully investigated and the culprits punished.
      Only a Presidential investigation can clear the air. The UNP seems to be implicated in this clever Central Bank Robbery.

  • 15
    4

    This is the biggest blunder Yahapalana government made. Within 50 days of coming to power they robbed the Central bank. The direct loss and the indirect losses to the country are colossal. The shit hit the ceiling. From that moment up to now, every month or every week
    starting with that Pitipana shit, some shit coming up to hit the Yahapalana bastards in the face. How can they concentrate and do any serious governing? I can’t imagine the audacity of this Kalu Suddhas (like Ranil, CBK, Malik and Ravi) who think, just because they speak few words of broken English and just because they wear suits and ties they can take the country for a ride. This sleaze bags are the curse of the country.

  • 11
    3

    Country should also have answers why you are not calling for explanation of what went on with the bonds during 2005 – 2014, the Avant Garde swindle, and numerous other financial frauds, scams, kick-backs, land grabs, nepotism and outright plunder of poor taxpayer’s money ….. not to mention the heinous murders and white-van abductions of innocent law-abiding citizens perpetrated by the Rajapakse Mafia —- before deciding on “suitable candidates” ? And also what about the illegal financial deals and other crimes being committed currently by Maithripala, the biggest traitor the country has ever known. Rusiripala, your fake earnestness is betrayed when you let yourself used by the mafia-media called Sirasa in their obsessive vendetta. You know what I’m talking about. You’re a man with somebody else’s cynical agenda .

  • 10
    8

    poor Ranil is screwed for swindling the coutry for what is loose change compared to the billions of dollarsthe Rajapakse’s swindled and got away scott free a.

    • 7
      3

      Rajash,
      “loose change”
      So far no solid proof of billions of dollars Rajapakses swindled. Dumbidiot Awamangala came out with a figure 18 Billion which shows that guy has no clue about the economy of this country. Mahinda Rajapakse challenged Awamangala to show where he is keeping this 18 Billion but Awamangala has failed to prove his allegation. But in a scientific cabinet such a dumbidiot is the Finance Minister. For Ranil’s ‘Bond Scam’, people in this country have to pay for the next 30 years.

      • 3
        3

        Blind Eagle,
        Why don’t you read Buddhadasa’s post above? It’s clear enough even for blind MR ball carriers. MR was clever enough to disguise his useless airports and harbours as “development”

      • 1
        3

        Eagle Eye

        What I understand is that Rajapakse sold this country to China for the development he carried out (not immediate necessity) mainly to swindle this country by billions. So the people of this country cannot finish even in 30 years paying to China. You say by Ranil’s bond scam people in this country have to pay for the next 30 years. Can you explain how and to whom (foreign country) people have to pay? I really cannot understand this.

        • 1
          1

          Ralli,
          “Can you explain how and to whom (foreign country) people have to pay? I really cannot understand this”
          You have the crux of the matter. You are not supposed to understand this. You are only supposed to believe all the rubbish that is being loudly shouted by Sirasa and others.
          Read LAC Buddhadasa’s explanation.

    • 2
      0

      Rajesh

      If the Rajapakses swindled and got away ,what hand did “poor Ranil” play in the getting away?

      Ranil it appears is poor at catching but quite good at looking the other way while the looting is on.

    • 0
      0

      R.
      My foot, loose change.
      It’s the CENTRAL BANK ROBERRY, man !
      The country is bankrupt. Period.

  • 9
    2

    Doesn’t Ranil W. realise that his so called friend, Arjuna Mahendran has betrayed him so badly that Mahendran must be regraded as a sworn enemy? We see no evidence of fury on the part of Ranil, or an all out effort to nab this crook, Mahendran.
    .
    Ranil W. has been privileged in every way since his youth, groomed take over the political party which (arguably only, since the SLFP can make similar claims) had the largest voter base in the country, and then handed over its leadership. He should have been humbled when regarding how fortunate he has been compared with others around him. Instead he has become so arrogant that he can’t even think. Now he imagines that leading his country is his entitlement.
    .
    He’s reached retirement age now. He’s had an interesting life; got himself everything he ever wanted (not our fault that he never wanted progeny – his choice), now it’s time for him to sit by the fireside. Guys like us are still willing to bid him a civilised good-bye. Accept it.
    .
    Or do you want to be sodomised and murdered in a sewer like Gaddafi?

    • 1
      0

      This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2/

    • 7
      2

      Sinhala_Man,

      Your assumption that Arjuna Mahendran betrayed Ranil is absolutely incorrect. In Ranil’s world no one is allowed to even tie their shoelaces without his permission. Mahendran followed Ranil’s orders to steal. Where do you think they got the money to contest 2 elections within 8 months? Maybe a little from the Europeans and the Americans(British are broke) but the larger portion was from the theft.

      So, there is no need for fury. Obviously, there is no serious effort to nab him either because that would be Ranil’s undoing. In Ranil’s convoluted world, he is waiting it out. That’s what he has always done hoping that with time, the problem will go away.

      Over to you Shaymon Jayasinghe

    • 2
      0

      Quite right SINHALA MAN the problem is that Ranil is under the mistaken notion that leading the country is his entitlement or birthright.

      He could have should have been a leading statesman instead , had he given up his lust for position and power.

      A man of considerable reading, he has been unable to read the writing on the wall.

  • 10
    6

    Sirasa ganging up with Rusiri is nothing new.

    • 2
      3

      Ananda: Why Shan wickramsinghe and TNL what it is doing ?

  • 6
    4

    Thank you Rusiripala Tennakoon for unveiling some facts behind the bond scam.
    We are being conditioned into thinking that the bond issue is the one and only Lankan scam. Was it?
    There were other scams with ‘facts’ as stubborn.
    One hopes that ALL scams be exposed right down to the Emperor’s New Clothes and the clothes worn by the Court Clowns.
    We, the Lankan majority do not have the expertise. You have it! So please.

    • 4
      2

      K.P,
      Mr. Pala is quite selective about his scams.
      “One hopes that ALL scams be exposed right down to the Emperor’s New Clothes “
      Easier to get feathers off a tortoise. I believe Killi Maharajah pays him by the word.

  • 12
    9

    Oh Rusiripala there you go again with your Anti Ranil Rant courtesy Killi Mahendran.

  • 1
    0

    before you judge a man , yoof sri lanka has said mahendran had not broken anylaw. what the fuss all aboutu have to see legally whether there was any illegal action taken by that person. no less a person than the chief justice

  • 5
    2

    JO should bring a motion that ranil should resign if mahendran cannot be sent here within a month of the motion being passed.It will be interesting to see who will vote for it and who won’t.Also it will highlight the fact that mahendran is missing and who is responsible for sending him to singapore.

    Also it will create a stink in singapore with papers publishing that srilankan parliament has brought in this motion.The press in other countries too will take it up from there and the embarrassed singapore government will send him here.When he is questioned by the police he will spill the beans unless he want to take the honour of being the mastermind of the bond scam and face life in prison.

  • 1
    0

    Rusiripala is quoting from the part of the report where Ranil’s lies are appearing. He is putting the blame on Mahendran and Aloysius.
    That has not contentions of what Mahendran has said about the conversation Ranil is claiming as he had with Mahendran.
    Mahendran will not come because if he appeared, Ranil will use his power to completely destroy Aloysius who is in prison already and thus would teach a lesson to Mahendran. Mahendran had one opportunity, which was to tell the truth publicly on the first instance he appeared on the commission. Had he told the truth like Pillaiyan said that Old King hired him to finish the New King, CB looting case might stopped completely at that point, like the case on Pillaiyan stopped. He may have to stay few days in Prison like Pillaiyan, but Aloysius, like Karuna, the partner of Pillaiyan, would be free to run his business.
    Rusiripala quoting are set up question by Commission to transfer the fault on Mahendran and Aloysius from Ranil. As per Prime Minister, Mahendran had all necessary qualification. He had confident in Mahendran. Mahendran’s citizenship was not issue. Earlier Governor served two terms without appropriate standing. The Commission did not ask the Prime Minister the reason of limiting his employment to only one year. If he was in evaluation period and they had collected and received reports on the performance of Mahendran, then the commission didn’t ask for that evaluation.

    Now Aloysius is held as a pawn by New King to revenge Ranil. He will get out when Old King comes and Son Prince gets his says.

    New King is holding Aloysius as hostage to keep Ranil under control, while New King authorized the theft and to stop investigation, he dissolved parliament abruptly.

  • 7
    2

    Options: We voted to kick MR out and get RW in. But RW let us down very badly. It was like getting rid of the woman with a bad cough and getting one with a bad cold. Kicking out the new woman with the bad cold and getting a completely new one is too risky. She could be having a much more serious disease such as AIDS, for all I know. Obviously, going back to the woman with the cold is also unthinkable while living without a woman is impossible. In other words, I had run out of all options.
    .
    Today was the first day of the 9 – day long Eid holiday in Saudi Arabia. Dejected and frustrated by the above thoughts, I went for a haircut at my usual saloon in Bahrain. Lo and Behold, there was a new, vivaciously beautiful Filippina barber ready to cut my hair.
    .
    I sat down, and she started to chat with me while getting on with the haircut. ‘Sir, you look sad. What happened’?
    .
    ‘No. I am just tired’
    .
    ‘No Sir. You are sad. Tell me why. Perhaps your boyfriend left you for another? It happened me too. Perhaps I can be your boyfriend?’
    .
    Then I realized that this beautiful ‘girl’ was really a man – a ‘Bakla’.
    .
    Perhaps that could be my next option. A new option that I have never tried before. In any case that is the only one left right now. The sun was shining again. Actually, it is mid-summer here and the sun was burning – not shining – even before I met Robert (my first and new BF cum barber). But in my sadness, I had not noticed it. I started to smile.

    • 1
      1

      Edwin,

      Hope this Filipino “Bakla” will give you all the satisfaction and relieve you of frustration so that we will see sensible reports from you on this forum as opposed to all the crap in the past. By the way also try Indian “Bakla” for variety.

      • 2
        1

        Are you suggesting that the quality of my comments are influenced by my girl/boy friends?

    • 3
      2

      Edwin,
      The thought of you in a short skirt gave me a nightmare yesterday.

      • 1
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        oldcodger ~ “The thought of you in a short skirt gave me a nightmare yesterday.”

        Edwin OR the short skirt?

      • 1
        1

        Modern Alakamandawa: Look old codger, this is not Sri Lanka. This is the Alakamandawa described in the Buddhist chronicles. But the Filipinas here usually wear jeans. Their limbs are too exciting to be revealed to the greedy eyes. Anyone would find it difficult to say ‘Ditte Dittamattam Bhavissati’ and end then look the other way.
        .
        It is only the Lankan housemaids who wear skirts here. And that too long ones. Long ones, not for the sake of decency but to hide their Koralaful Kok Kakul. Anyone would be capable of doing ‘Ditte dittamattam Bhavissati’ with them voluntarily.
        .
        Calm down and try to get some sleep tonight. I don’t have DDB type legs but nevertheless I don’t wear short skirts. OK?

      • 0
        0

        Old codger: remember you re the guy who says that bond scam di dnot happen. did you get profits or you are just old fool or Ranil your personal friend ?

        • 0
          0

          Jimbo the dumbo,
          Why don’t you go look in the mirror? Do you see the 2 horns on your head? Is it a bad day in the Toronto toilet Corp?

  • 2
    0

    Mr. Rusiripala: No doubt the facts are “Stubborn”; but what do you have to say of those who voted against the Vote of No Confidence that contained 99.9% facts relating to the “CBSL ROBBERY” ? The worst were the Legislators who “Abstained” from voting for or against. So all those who voted against and abstained were the most STUBBORN to “Accept” those “Stubborn Facts” you speak of. Do the PEOPLE think that way? I doubt very much. My concern here is, that the President elected by 6.2 million people failed to STOP the “Robbery” , when in fact he merely warned against appointing Arjun Mahendran as the Governor of the CBSL. He (President) in an address to the Nation specifically stated : “I warned not to appoint Arjun Mahendran and if PM did listen to me, this “Bond Scam” would never have come up”. That is the most STUBBORN FACT to bear in mind. He, directly elected by the PEOPLE had all the “Authority” and “Power” to stop it in two ways:- (1) Reject the transfer of the CBSL to PM (2) Reject the appointment of Arjuna Mahendran. Worst of all, even with the knowledge of what happened in February he allowed the “Second” “Bond Scam” to go through.in May, 2015. Is this the type of President that People still want to “Elect”? Are the PEOPLE capable of “Electing” a President who can deliver functions in Governing? Who have already “Entered” the “Race”? What do they pledge to achieve? This “JOKE” must stop. Don’t you feel these FACTS are the MOST STUBBORN, in that, there must be complete change of the SYSTEMS and PEOPLE who administer the Governing functions.

  • 2
    1

    Facts are indeed stubborn.

    Anyone who knows Ranil well clearly understands that they cannot even tie their shoelaces without getting his permission.
    That said, Mahendran was the middle man they ran this through. Ranil was the mastermind. Mahendran would never be brought back to Sri Lanka during Ranil’s tenure. I am surprised that Aloysius is still well and alive.

    No matter who runs for President in 2019, Both MS and Ranil will get hosed by the voter. That leaves Gota unless someone convinces Kumar S.

    As for 20A, nice try by the INGO’s/NGO’s and the Western lackeys like Jehan, Bahu and the Diaspora. We need an independent President. No BS coalition politics. These political low lives will make deals with anyone to stay in power.

    • 0
      0

      Kumar Sangakkara is a wonderful guy, and could even make a fine President, if he is ever elevated to such a position. I can’t see him accepting it; I hurry to affirm that I’ll be very happy to be proved wrong.
      .
      We’ve got to get real. Nagananda Kodituwakku has actually announced his candidacy. He’s one guy whom we could vote for. He’ll probably make a stern, honest, but rather humourless President – for a short while. I feel that is the type of guy whom we need at this juncture.

      • 0
        0

        Sinhala man
        Kumar S is an outstanding cricketer, well spoken, and generally OK guy, but unfortunately driven by his greed for money. I can’t see him handling the issues facing SL. That is my view.

  • 1
    2

    Dear Author, and all participants,
    Please look back at the experience of the PM. He comes from a well known family of politicians who saved Sri Lanka Governments several times whenever the Government face humiliation from neighboring and other leading Countries. Did he do anything different this time around which is the worst of all time humiliation with war crimes and top leaders accused of pilfering the Coffers of the Country. He didn’t put any Sri Lankan as the CCB Chairman and allowed this scam. He brought an outsider with well planned strategy to get Sri Lanka and his friends out of the humiliating world scene. He is also capable in talking to the TNA leaders and put all the victims behind the scene. What is the first priority? Safeguarding the Country from criminal charges or take care of the Country’s financial situation? After all it is going with Mahendran and the real culprits and criminals are safeguarded! Is he not a great leader deserving top dignity as per the requirement at this time?

  • 2
    1

    What about scams during MR regime? Why not ANC(Ajith Niwad) and his sister questioning ? Let us know whole story not after 2015.

  • 3
    1

    Is this the same Rusiripala who was very close to Felix Dias during 70-77? And later was so close to MR?

    • 3
      3

      Bank clerk.
      Rusiri is carrying out Killi Maharajas contract.

    • 1
      0

      Mr Bank clerk
      This Rusiripala was never anywhere close to MR except during his school days when MR was another contemporary student of Thurstan College Colombo
      True he was close to FDB

  • 3
    3

    Rusiri aiya just hold your breath. Sirasa will be bulldozed shortly and meetotamulla garbage dump will be transferred.

  • 4
    1

    kolla’s comment above says it all.If the Pm was lied to like he claims that he was,why did he continue to support mahendran right upto the last including allowing him out of the country?mahendran did not take the PM for a ride,it was the PM who took mahendran for a ride.

  • 3
    1

    Mr. Rusiripala.
    Is it as a matter of convenience that you have omitted the fact that Nivard Cabraal had his sister as a director of the selfsame PTL and that the same fraud had been going on for years then? You know what Abraham Lincon said? You cant fool ………. read yourself what you have started with.

  • 1
    0

    Ranil is a innocent gentleman like Jr or premadasa from a poor party like unp holds only 23% vote base who is contesting with the largest single party in srilanka rajapaksas modern slfp which is the only highclass business capitalist party.the problem is all the top level business people and high class business capitalist( shangrila capitalist) are die heart supporters of modern slfp are making joke out of small poor parties like JVP or unp instead of giving them a small help. This business class and media of rajapaksas modern slfp are treating poor parties like JVP or unp in a very bad manner with out giving them a simple respect.Ranil is a innocent gentle man who was criticized by these top class capitalist of rajapajsas and modern slfp and their businrss media.sin innocent unp leader and people.

  • 1
    0

    Don’t say that aney. These are sophisticated Colombo elite English speaking Aristocrats.. What Aney? Vishwamithra will be upset too. Ranil Haamu is the best President Sri Lanka is yet to have.

  • 1
    0

    My President Donald Trump has fooled all the people all the time Mr. Tennekoon. He will lie, steal, violate government ethics, enrich his family and still win re-election in 2020. So it can happen.

    You can fool all the people some of the time; some of the people all the time and also you can fool all the people all the time -Donald J Trump

    • 0
      0

      Donald Trump is An exception to the rule!
      He believes in Machiavelli
      “End justifies the means”😁
      Your comment outstands the bullshit some are making
      Like asking a writer to write what they want and give public vent to their rubbishy imaginations
      Such jokers will definitely reflect images of jealousy and hatred when they stand before a mirror

      • 0
        0

        Why is the great senior banker unable to give us a simple breakdown of the alleged losses from this bond scam? It is clear that he doesn’t know, and that the figure is way below what he claims.
        As to jealousy, consider Dr W.A. Wijewardena (a real banker) who also appears regularly on Sirasa. But it is obvious that his views are his own, not Killi Maharajahs. A truly independent expert, who never suffers the criticism that our Rusiri suffers every time.
        Mediocrity is its own reward.

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