Nihal Fernando PC, the lawyer for Perpetual Treasuries who made a statement saying that he would not represent PTL in light of the recent revelations on deletion of phone records was not present at the Commission today.
Arjun Aloysius
Instead his junior, one Mrs. Romali Thudawe said that Fernando was at the “Commercial High Court” and therefore did not attend the hearings. However, she had requested for the CD’s of the phone recordings which were played and the other recordings indicating that they were not going to step down.
Earlier, Fernando promised the commission that he had provided all recordings of conversations. However it came to light that it was a lie, as the phone records had been tampered with and deleted.
During the hearing on Monday, Fernando thereafter said that he would step down after ASG Dappula De Livera pointed out to Fernando that he had given an undertaking about the recordings.
Fernando said that Arjun Aloysius had lied to him and therefore he cannot proceed to represent them.
He first attempted to defend the transactions using data of yield rates and market rates, attempting to show that the Bonds were auctioned in the normal course of business and that there was nothing untoward in the auctions.
However, in light of the revelations specifically pointing out that Aloysius had inside information the entire defence fell apart.
Fernando despite grabbing the headlines yesterday regarding his “Professional Integrity” failed to turn up to make a statement today which he said he would. He had instead gone to the Commercial High Court. It is unclear what other case was more important than the Commission hearings, during which he promised to make a statement.
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Dan / September 6, 2017
He must have gone to represent Ranjan Ramanayake at the Supreme Court against the BASL law suit.
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Nosey Parker / September 6, 2017
Guns for hire , will defend anybody if the fee is right . Forget the tax paying masses who are being swindled by all and sundry .
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K.Pillai / September 6, 2017
Abandoning a sinking container ship eh?
International Maritime Laws stipulate “rescue” but says nothing about exemption from spilling evidence as to the reason for jumping off.
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K A Sumanasekera / September 7, 2017
What is the big deal about PC Fernanado having a sickie, after all that heavy lifting….r trying to dis that good Sinhala Kolla Livera………and save FIL & SIL in one hit……….Dr Ranil , Rosyge Putha, Poodle Club President’s Baby Sonna, Mela, Oneliya, Daddy Galleon , Bandara and Kalu Ajiya, the cream of the crop of the Elite , Anglicans and Wahabis in Colombo are all in Arjun Aloysious’s Bag…… ( Banda came to Colombo to play Casino ) …….. .All bought with lavish gifts of Penthouses, Colombo Postcode building blocks , Casino Chips and only God or Livera knows what else……… Hard working Srilankan Employee Provident Fund Members paid for all that, including Sidarta Auyrveda Massages too after Night outs at Belagio……………How cool is that ……..But Aloysious gone missing according to the UNP Dr Ranil’s own CID……..But the CID assures that Aloy hasn’t used his Australian or Srilankan Passports to leave the country……May be the EPF members , who have worked their ass off for decades , feel a sigh of relief……….Wouldn’t they ……….My Elders asked me whether the CID has checked Rosie’s digs at the Temple Trees , which the good lady uses when she is advising the Hon PM Dr Ranil………..
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P jayantha / September 7, 2017
Will Nihal Fdo return atleast part of the huge retainer he got from the dollar boy for the sake of professional ethics if he quits
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harry hatton / September 7, 2017
This shows the poor quality of our Presidents Counsel. Even on simple matters of ethics they are failures.
Can a lawyer openly mislead court like this ?
It is so obvious that this guy with his rogue client is trying to fool the judges.
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Uthungan / September 7, 2017
Will contempt proceedings be initiated against Nihal Fernando PC for misleading court and his that his PC adage be revoked?
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upul / September 7, 2017
In the United States they say…its not the crime, but the subsequent attmepts to cover up the crime….that send people to jail. Let us see, what the Sri Lankan version might be.
The criminal actions involving the bond trades appear to involve the trading of inside-information rather than the bonds themselves. The evidence presented thus far clearly show why other financial entities were not able to compete on a level playing field with PTL. However, it is also extremely revealing that NONE of those companies were ever forthcoming about PTL’s access to inside-information, which they had to know of. To me, it also becoming clear that Mahendran is not the key to PTL’s successes; rather other individuals spread throughout the bond trading structure, from the Central Bank and other govt. and semi-govt entities that bought bonds from the Central Bank. The evidence thus far shows a clear connivance by officers of the NSB and EPF with Aloysius. These connections pre-date Mahendran’s arrival at Central Bank.
Some will not also admit that all this has been revealed under the Yahapalanaya administration, after all. Would you venture to guess what would have happened in a Rajapakse administration, when PTL was also a leading operator in the bond markets as well as managing the Rajapakse off-shire investments? This explains the Rajapakses reluctance to criticise the bond fiasco too much.
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Lenonard / September 7, 2017
In Sri Lanka You do the crime then you can have all the fun you like because crime really dose pay handsomely. How would Singapore government going to treat Arajuna Mahendran and then again what will Australian government going to do with Aloysius?
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senthil / September 7, 2017
“This explains the Rajapakses reluctance to criticise the bond fiasco too much.”
Well said.
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Analyst / September 7, 2017
Has Aloysious jumped off the Kelani Bridge?? Style of FAILED Singaporeans or Hongkongnese ???
Coast guards please search!!!
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thondamannay / September 7, 2017
Wheels within wheels……………… Scheming of the highest order…………
When Whales bang each other what are Dolphins.
Nihal fernando will be back in the saddle. After a minor re-direction
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