18 November, 2018

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Governor Indrajit – Shameful To Avoid Response On Money Laundering

By Amrit Muttukumaru

Amrit Muttukumaru

Dr. Indrajit Coomaraswamy was appointed Governor, Central Bank of Sri Lanka (CBSL) with great expectations to ‘clean up’ and give it credibility after its ignominious conduct in recent times where the egregious Bond Scam (prior to him assuming office) figures prominently. One wonders whether the CBSL has learnt anything from the Bond Scam and other misdemeanors going by the example of the European Union designating Sri Lanka as a ‘high risk country for money laundering’ subsequent to the ‘Financial Action Task Force’ (FATF) placing the country on its ‘grey list’ reportedly from NOVEMBER 2017 for which Dr. Coomaraswamy who assumed office as Governor from 3 JULY 2016 must bear some responsibility.

The EU stricture confirms what discerning persons long suspected. Even before the stricture, the country was attracting questionable FDIs which include the non-existent Volkswagen AG assembly plant and the controversial tyre factory in Horana. The large Chinese investments are mainly geo-political in nature connected to big power rivalry in the Indian Ocean which could haunt us in the future.
It is shameful that even after two weeks the CBSL has failed to respond to my article published in the ‘Colombo Telegraph’ on 4 March and subsequently in the print media:

‘Money Laundering’ Label Disastrous For Country; CBSL Wake-Up!

The issues being avoided include:

1) Money Laundering/Tax Evasion?

What action has CBSL taken in relation to:

i) Kaushitha Rathnaveera, a Senior Dealer of PTL (Perpetual Treasuries Limited) disclosing to the Presidential Commission of Inquiry (PCoI) probing the Bond Scam that “millions” encashed by him were “several times” left on “PTL CEO Kasun Palisena’s chair”.

ii) Nuwan Salgado, Chief Dealer of PTL disclosing to the PCoI that on the “instructions of PTL CEO Kasun Palisena” he maintained a record of payments to “informants” code named as ‘Charlie’, ‘Tango’ and others.

iii) B.R. Sinniah, Chief Financial Officer of GTLPL said to be controlled by former Finance Minister Ravi Karunanayake’s family in his testimony to the PCoI disclosing:

“Chairman ‘Lakshmi Kanthan’ who resides in Britain had arrived at the Company on two occasions in February 2016 and 2017 and dumped cash amounting to Rs.145 million in the Chairman’s safe”

“it had not been supported by any documentation or receipt issued to Mr. Kanthan neither were there any entries in the GTLPL accounts books regarding these two cash inflows”

How can the CBSL ignore this?

2) PEPs as Bank Directors 

i) In the context of Politically Exposed Persons (PEPs) being at the centre of the worldwide efforts for the prevention of money laundering, the CBSL continues to ignore ‘directors’ of banks who are obvious PEPs as per its own definition.

It begs the question when even the mere “Opening of accounts” in banks by PEPs is under scrutiny in Sri Lanka, how the Director of Bank Supervision could advise me there is “no restriction for appointments of PEPs as Board members of licensed banks”?

ii) The situation is so HOPELESS in Sri Lanka that it was revealed at the PCoI that B.R. Sinniah (said to be CFO in Karunanayake’s family company) was “appointed to the Board of Directors of the BoC” by Minister Karunanayake.

Although B.R. Sinniah had presumably ceased being a bank director when Dr. Coomaraswamy assumed the position of CBSL governor, the fact of the matter is that under his watch too there are PEPs who are bank directors.

iii) During the tenure of former CBSL Governor – Nivard Cabraal, his sister Siromi Wickramasinghe – clearly a PEP was a bank ‘director’ which included being Chairman of ‘State owned’ entity HDFC Bank (Housing Development Finance Corporation).

It must be flagged that although all PEPs are not involved in money laundering or unlawful activities, the high risk they pose cannot be ignored. Should not laws and guidelines which are there for a purpose be adhered to?

3) Bank Malpractice?

i) A gaping hole in the PCoI report is the ‘pussyfooting’ on the Bank of Ceylon giving PTL access to Billions of Rupees almost instantly which enabled PTL with the aid of “inside information” to make a ‘killing’ in the secondary Bond market at the further expense of state institutions which include the hard earned savings of workers in the EPF.

It is inaction by the CBSL that encourages such conduct by a largely politically appointed board of directors.

ii) The PCoI report states that at a meeting “convened” on 28 March 2016 by Ravi Karunanayake then Minister of Finance “three State Banks had been instructed to place Bids within a specified range of Yield Rates at the Treasury Bond Auction to be held on 29th March 2016 and that, the three State Banks had been given an assurance that, Bids at higher Yield Rates would not be accepted at this Auction.”

The state banks concerned – Bank of Ceylon, People’s Bank and National Savings Bank adhering to these ‘instructions’ had significantly benefited PTL financially and resulted in an ‘opportunity loss’ to the state banks.

iii) Although it was the EPF that by far suffered the major loss due to purchases of Treasury Bonds in the secondary market from PTL, another non-bank financial institution that reportedly took a substantial hit was the Sri Lanka Insurance Corporation (SLIC).

Should these not be of interest to CBSL’s ‘Bank Supervision’ and ‘Non-Bank Supervision’ Departments?

4) Alleged HNB Tax Evasion

After the damning allegations in a website of an alleged tax evasion at HNB Bank was brought to the attention of CBSL Governor, Dr. Indrajit Coomaraswamy on 25 September 2017, it took the CBSL 42 days to advise me (i)“CBSL has not carried out any investigations” (ii) “the statements” in the article “are factually incorrect” (iii) “The matter is being brought to the attention of the Inland Revenue Department.”

It begs the questions:

i) How “the statements” contained in the article could be “factually incorrect” if “CBSL has not carried out any investigations”?

ii) Why it has taken CBSL 42 days (from my initial e-mail of 25 September) to belatedly state “The matter is being brought to the attention of the Inland Revenue Department.”?

iii) Has CBSL brought it “to the attention of the Inland Revenue Department” even now? If not why?

The allegations include:

i) Some portion of the “evaded tax” was “divided between the tax advising company and the officers at the Inland Revenue Department involved”

ii) “The current chairman of the bank Rani Jayamaha has also been able to identify the wrongdoing through an internal probe” (since then there is another chairman)
To establish the truth or otherwise of this alleged scam has the Central Bank at least  inquired from “Rani Jayamaha” former Deputy Governor of CBSL whether she was “able to identify the wrongdoing” through “an internal probe” when she was Chairman of the bank concerned? If not why?

5) ‘Panama Papers’

Dr. Coomaraswamy has also failed to respond to the questions posed to him in my e-mail of 30 August 2017 in regard to Sri Lankan citizens allegedly linked to offshore companies in tax havens revealed in the ‘Panama Papers’.

One of the persons named – a prominent corporate personality who is also Chairman of a Bank was a colleague of Dr. Coomaraswamy until he was appointed CBSL Governor.

The writer is not suggesting or implying that the mere listing of names and entities in tax havens is indicative of wrongdoing. Nevertheless it is incumbent on the CBSL to ascertain legitimacy. Tardiness on the part of CBSL does injustice to those who have legitimate accounts.
Conclusion

In the context of the foregoing – particularly the absence of the political will to enforce existing laws and regulations on a level playing field, it is downright dangerous to have in the statute book the recently enacted ‘Foreign Exchange Act, No. 12 of 2017’ which further liberalizes foreign exchange transactions which in effect is conducive for money laundering if people are so inclined.

The Act inter alia states “The Central Bank shall as the agent of the Government, be responsible for implementing the provisions of this Act”.

One would have expected Dr. Coomaraswamy at the very least to have publicly cautioned the government against the enactment of such an Act.

In the context of – little respect for the rule of law and regulatory agencies for the most part ‘sleeping at the wheel’, the proposed ‘Colombo International Financial City’ may well turn out to be a hub for money laundering.

Much was expected from CBSL Governor Dr. Coomaraswamy who has been in the saddle for more than 20 months.

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Latest comments

  • 6
    0

    How about PCOLI report CIABOC judges sasying that there should be legal Action against PENT HOUSE RAVI. Yety, he is sitting by the side of PM in the New colombo Municiapl council photo PENTHOUSE RAVI has two Money Laundering cases. All solved by selelcting the retiring judge, throwing the case over a technicality and change the foreign exchange control act. then rosy Esnayake’s son was was accused in the bond scam. I heard he is acquitted because of a word change or because of typing mistakes. IF the leaders are shameless what can others do. IT is their LAWs, law enforcement, lawyers and judges.

    • 5
      3

      Indrajit Coomaraswamy is a honourable man and so far has done a honourable job and is trying to do a honourable job.

      Let’s have the decency to acknowledge where it’s warranted. Let’s not give way to our dark hearts that are accustomed to throw accusations every which way and tarnish even good people. Coomaraswamy is from good stock. And that’s an almost extinct species in SL. Some people may not even know what it means ……. and that’s how far down the country has come now.

      I don’t know what’s in the new exchange control act; haven’t read it.

      But some form of liberalization of exchange-control is required for a modern economy …………. if there is money-laundering it’s the fault of the law-enforcement sector; not the fault of a well formulated exchange-control regime ………… in all the developed countries one has the ability bring in and out funds legitimately ……….

      Look at the amount of foreign-buying in the Colombo stock exchange ……….. can a SL citizen buy stocks/shares even in the neighbouring Indian stock exchange ………. let alone shares such as BRK-A, BRK-B, AAPL, GOOGL, KO, ……….? Why should ordinary citizens be denied such a privilege if they have earned the money legitimately and paid taxes on the income?

      Is that privilege reserved only for politicians ……… who murder to get into power ………. and then pocket the public wealth?

      If people can fend for themselves it’ll break the hold politicians have on them …………

      What’s wrong with you guys?

  • 2
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    I heard Rani Jayamaha and Ranil have some special relationship. so she is not scared to escape from any responsibilities. I think Mahinda Rajapakse knows it the best.

  • 2
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    With respect to these money laundering investments such as the Volkwagen factory and the Tyre factory, one name you mentioned here met RANIL WICKRAMSINGHE IN MIRIDIYA HOTEL. I read another newsreport, teo people who had established a company in London (probably this Kochchi guy) had money in a virgin Island bank, and came to buy a manufacturing plant in Sri lanka or something similar to that. I think it is the MEndis special plant beczause those so often Arjun Aloesius had conveyed to Ranil when they meet in Colombo Parties or for an evening drink about the progress of the liuor filling plant. this Chrlie, TANGO AND car HAD TOLD RANIL WHEN YOU GUYS GIVE YOUR MONEY, WE ALSO WOULD GIVE WHAT we have. Ranil would say it is Penthouse Ravi which is also correct. JVP had got some money from Ranil. It should be the from the same withdrawal. Ranil had tried some NAVY people too which made them leave.

  • 3
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    I heard the EPF, Peoples bank, State Savings bank are all bankrupt. Agrarian services banks are not functioning anymore. I do not whether it si part of this.

  • 2
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    As a financial man you know about Insurance industry. why do they allow foreign insurance companies to come to Sri lanka. I ehard they want to insure propertes. what for, Are th houses going get burned ?. It looks certain things pre-planned.

    • 3
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      Jimmy,
      “I heard the EPF, Peoples bank, State Savings bank are all bankrupt.”
      “I heard Rani Jayamaha and Ranil have some special relationship.”
      ” I heard he is acquitted because of a word change”
      Some people have a lot of voices in their heads., all talking at the same time. It must be really difficult

  • 3
    1

    All these “Money Laundering” matters have been given “Covering Approval” by the Exchange Control Act No 12 of 2017 that which was steamrolled through the Legislature by the PM and the Cabinet. So why blame the present Governor of the CBSL? That was how the ex Finance Minister RAV K was given the opportunity to CREEP through his case and stand as “Lilly White”.

  • 5
    0

    I guess the money laundering is going to be the new economy of Sri Lanka. When Port City finally arrives with that will arrive, Casinos for Gambling, brothels and escort agency for prostitution, drugs and alcohol and crime. All underpinned by money laundering.

    Legitimate business magnates as well as underworld mafia, specially Chinese , Russian, Indians are waiting eagerly salivating at the prospects

    The Govt is obliging by sending the correct signals.

  • 3
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    Channel 4 news exploit corrupt Sri Lanka – in their undercover investigation of Cambridge Analytica.

    Channel 4 News said its reporter had posed as a fixer for a wealthy client hoping to get a political candidate elected in Sri Lanka.

    http://www.bbc.co.uk/news/uk-43474760

  • 3
    3

    My perceptual instincts tell me that Tamil Vellalas have convinced Sinhala Vellalas to join up them them and rule the South Asian Masses. They have also included certain Buddhist clergy into this (1%). They have convinced this 1% Buddhist clergy that the Buddha who came to Sri Lanka was not actually the original Gautama Buddha, but a Hindu high-caste whipper of the low-castes. You see, masses of the Lankan isle’s money will be used for the greater glory of the high-castes of the greater South Asian region. It is a means for high-castes to remain high-caste for another 1,000 years (irrespective of mother Lanka becoming the regional Banana Republic) – Ranil and Sirisena at the helm of all things. That’s what it is all about.

  • 4
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    [One wonders whether the CBSL has learnt anything from the Bond Scam]

    Yes they did just carry on, business as usual get paid mega salaries enjoy the excesses keep mum while the good times rolling above all remember the three wise “Monkeys See no evil, hear no evil, Speak no evil”.

  • 6
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    You pretend to be an intellectual very much concerned about the Bond Scandal, being the one and only scandal in this country.Isn’t in this report states that the proper procedures are followed and the famous footnotes (putnote as per Viagra Vimal) are in order.
    In the previous regime were there any public auctions or the majority of them were private placements.During MR’ time, the economy was very well managed that’s why the present regime has to go for a bond to find money for the payments of Road projects completed without even proper contracts. According to the commission report isn’t it stated that the loss was 4000 B as against a loss of 10B which could be recovered in the future.We understand your agenda (as well as SAK Kili M’Sirasa), but there’s somebody above us and that curseth will come upon people like you for misleading the public.

    • 1
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      Desmond ,
      You are quite correct. Some people go on and on about an unproven “bond scam” which is said to have lost the state 9 billion.
      But the 2014 loss at Sri Lankan Airlines was 18 billion. It seems many critics suffer from selective vision, egged on by the Sirasa team of talking heads.

  • 3
    3

    Money laundering is rampant in most third world economies and happens in the West & US/Canada as well. CBSL Governor cannot do anything although he knows what is going on, he served as adviser to Raj Rajaratnam who is now lingering in a US prison for his allegedly corrupt insider trading activity. Criminal & rogue Ravi K’nayke did money laundering thru’ his Raj connection & MR saved him. In February this year a Malaysian businessman who was in the Island for some nefarious activity was trying to smuggle out of Lanka more than $ 1m along with his son were nabbed by customs, later released (thru political interference) thus money laundering transactions are carried out through an organized group of crime-syndicates. FATF, Coomarasamy or any other fake-legal system are nothing but pure hogwash.

  • 4
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    Is there no end to the corruption at every level in any of those configurations seeking to govern this country?

  • 3
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    Stop howling Amrit. When the Rajapaksas come back to power, they will appoint Rajiva Wijesinghe as the Minister of Finance. This bloke, who gave a 7 year itch to Oxford University, will clean up the mess.

    As of now, I suggest you curry favour with this Trollope in the hope that your brother Gerard Dilhan will be appointed Governor of the Central Bank. Rock…Rockwood!

    • 16
      5

      The title to this article is impolite, demandinglying and offensive. Hasn’t the good Governor got anything better to do than answer every wild allegation made by all and sundry?? Methinks IC will answer only those whom he has to, and good on him.

      • 0
        1

        Regret the typos as a result of the tricks played on me by this Tab I am using. Despite that inconvenience I repeat – the title remains impolite, demanding and offensive.

  • 5
    5

    Amrit Muttukumaru
    Not quite fair to blame the Governor, Central Bank of Sri Lanka (CBSL).
    Dr. Indrajit Coomaraswamy was appointed Governor, CBSL. The great expectations to ‘clean up’ was ours.
    It is not possible for the Governor to name names, and prosecute them. The responsibility is with OUR representatives aka MPs.

    • 4
      2

      Amrit has to be applauded for the very incisive commentary. We should allow the present Governor to settle in to his job. He comes with an impeccable reputation and is known to be a very decent man without any communal bone in his body much unlike his brethren from the North. The govt has drawn its shutters up with regard to eradicating corruption. On the contrary it has got its nose deep in the trough and ministers are making money left, right, and centre.The disease has spread to Corporation heads as well.The Chairman of the Tea Board has refused to declare his assets. Why .? What is he hiding? It is a riculous situation in the country today!

      • 2
        9

        Percy, do not be too sure about his reputation as there was a report on Sunday Times on the 8 November 2015, that Amrit Muttukumaru was brought to court on contempt charges, and had to tender an apology to Rotary International President, Sri Lanka-born K.R. Ravindran, pay a settlement of Rs 10,000 to the Sri Lanka Cancer Society and promised never to address any communication whatsoever concerning Mr Ravindran. Unless, it is another person by the same name, people will find it difficult to share your enthusiasm about his credentials.

        • 9
          0

          VITHURA

          I crave the indulgence of the ‘Colombo Telegraph’ to make an exception and publish this rather lengthy response in the PUBLIC INTEREST:

          1) It would appear you are familiar with the ‘Front Runner’ – an acolyte of the PM now in the hotel trade under yahapalana and the itinerant (PEP) bank director – with his foot in both the RW and MR camps.

          2) This conversation is NOT about K. R. Ravindran, Past President of Rotary International but about the European Union designating Sri Lanka as a ‘high risk country for money laundering’ and my CT article “Governor Indrajit – Shameful to Avoid Response on Money Laundering”.

          3) What is this nonsense about “Sri Lanka-born K.R. Ravindran” – where else was he born?

          4) You are doing your damnedest to obfuscate by introducing irrelevant issues such as ‘Contempt of Court’ insinuating NON-EXISTENT ‘Defamation’

          5) I emphasize I have NEVER BEEN FAULTED by any Court for defamation. I have never had a damages award given against me in any defamation claim. I further confirm there are no pending defamation cases against me.

          6) I am aware my public interest undertakings particularly ‘NAMING & SHAMING’ has infuriated wrongdoers in high places. I have done so with responsibility to which wrongdoers have NO RATIONAL ANSWER other than unleash MERCENARIES in different forms for different rewards. This will not deter me.

          7) I state with responsibility that the INTEGRITY of Rotary International (RI) one of the largest and most affluent NGOs in the world which claims to be an ethical entity is QUESTIONABLE. For example, its accountability for the US $10 Million ‘Schools Re-awaken’ project with donor funds to rebuild/rehabilitate 25 Tsunami devastated schools is questionable.

          8) After I raised issues concerning the INTEGRITY of Rotary, questioned the LEGITIMACY of K.R. Ravindran’s nomination to be RI President (as there was no legitimate ‘quorum’) and the unsuitability of Tissa Bandaranayake (former Partner, Ernst & Young) to be a member of the crucial RI ‘Finance Committee’ (due to his role in the fraudulent privatization of the Sri Lanka Insurance Corporation), they both SUED ME for Rs. 100 Million for alleged ‘defamation’. I am the complainant to the Institute of Chartered Accountants of Sri Lanka on the professional misconduct of PwC & Ernst & Young in relation to the fraudulent SLIC privatization.

          9) Both of them INITIATED a ‘SETTLEMENT’ on IDENTICAL undertakings which PROHIBITS Ravindran, Bandaranayake and me from writing on issues concerning each other. Does this not demonstrate the UTTER FALSITY of the alleged ‘defamation’? These are persons who SUED ME for Rs. 100 Million!

          10) Vithura you state that I “promised never to address any communication whatsoever concerning Mr Ravindran”. One ‘Peter Perera’ too made a similar assertion. What both of you have CONCEALED is that the Plaintiff (Ravindran) too gave an IDENTICAL UNDERTAKING to me!

          11) I agreed to the ‘Settlement’ due to time and cost constraints.

          12) Ravindran’s instructing attorneys were the lawyers to his ‘quoted’ company – Printcare PLC of which he is Managing Director.

          13) Rotary corruption is such that a very senior Rotarian after he breached the mandatory Rotary ‘Code of Policies’ (which I exposed) made the following scandalous utterances in his e-mail of 27 April 2006 to then District Governor:

          “I specifically asked him to keep this matter Private and quiet till this change in the code of policies was affected” (the reference was not to me)

          This is from Rotary which claims to have a “written whistleblower policy”!

          14) I suggest you ask Ravindran (whom you appear to know) to disclose the identity of this ‘very senior Rotarian’.

          15) My Rotary membership was UNLAWFULLY terminated TWICE after I blew the whistle on Rotary wrongdoing.

          16) The above are a SAMPLING of Rotary CORRUPTION and ABUSE.

          17) PM Ranil Wickremesinghe appointed Ravindran “special ambassador to attract foreign investment”. Why don’t you ask him how much of FDIs came to the country due to his efforts?

          18) When Ravindran WRONGFULLY attained the position of RI President (due to the absence of a legitimate quorum), in the LARGER INTEREST of RI and the general public who make DONATIONS to RI, I raised questions on matters concerning RI INTEGRITY which resulted in Ravindran reporting me for ‘Contempt of Court’ for breach of my part of the undertaking which PROHIBITS Ravindran and me from writing on issues concerning each other (“previous decree”)

          19) There was a WILFUL miscarriage of justice when the ‘Sunday Times’ reported the ‘Settlement’ in its top headline Page 4 ‘News’ item of 8 November 2015 captioned: “Colombo resident apologises to Rotary International President, pays Rs. 10,000 to charity” which MISCHIEVOUSLY portrayed I was faulted by Court for defaming K.R. Ravindran. Let alone its contents, even its caption wrongly suggests I have defamed Ravindran.

          20) Although the issue at hand is the ‘Settlement’ of an alleged ‘Contempt of Court’ for the alleged breach of a “previous decree” which prohibits BOTH PARTIES from writing on issues concerning each other, the ‘Sunday Times’ mischievously referred to a “defamation action” which has NO MENTION either in the ‘Settlement’ or the “previous decree”!

          21) ‘The Sunday Times’ has not stopped at this. By insinuating that the “previous decree” only applies to me, it has given the impression to readers that I have ‘defamed’ K.R. Ravindran. If the intention was fair and objective reporting, should it not have DEFINED the “previous decree” and stated that it applied EQUALLY to Ravindran and me?

          22) My expression of regret and the payment to the ‘Sri Lanka Cancer Society’ were with SOLE REFERENCE to the alleged ‘Contempt of Court’. It has NOTHING TO DO with any NON-EXISTENT ‘defamation’. It was NOT A FINE by Court.

          23) ‘The Sunday Times’ even considered the news value of the increase in the membership in two CRUCIAL Parliamentary oversight committees – Committee on Public Enterprises (COPE) and the Public Accounts Committee (PAC) to be LESS IMPORTANT than the news concerning the Rotary movement which has a membership of less than 2000 in this country to place it with a smaller caption BELOW the Rotary item!

          24) My demand for my ‘RIGHT OF REPLY’ entitlement has been DENIED.

          25) Kumar Nadesan, the Chairman of the Press Complaints Commission of Sri Lanka (PCCSL) is the UNCLE of K.R. Ravindran. Ravindran’s mother is Nadesan’s sister! Sinha Ratnatunga the Editor of the ‘Sunday Times’ is PCCSL Deputy Chairman! Can ‘conflict of interest’ get any worse?

          26) I EMPHASISE – The ‘Contempt of Court’ and its ‘Settlement’ HAS NOTHING TO DO with any non-existent ‘defamation’, although the ‘Sunday Times’ MISCHIEVOUSLY portrayed that I had defamed Ravindran!

          27) The threat of ‘Defamation’ and ‘Contempt of Court’ could be ABUSED by interested parties to HALT exposé of WRONGDOING. Are you not attempting precisely this?

          28) Vithura cut the crap and prevail on CBSL Governor Dr. Indrajit Coomaraswamy to RESPOND to my CT article “Governor Indrajit – Shameful to Avoid Response on Money Laundering”.

          AMRIT MUTTUKUMARU

  • 3
    5

    There is nothing new in this article. It is repetition of what has been written before. It is so ad nauseum. The Governor has no responsibility towards responding to you. You are like a puppy that has got a bone to chew and will not let go. Find something new to do. You have finished with Mahendran and Ranil. Now start on Indrajith. Where were you pre 2015 ? Did you write one word against Cabraal or the Rajapakses ? Dammika Perera was a PEP. Chairman of a bank and Secretary Ministry of Highways. Did you open your mouth about PEPs.

  • 2
    0

    Politicians first create the legal environment and then abuse the power. Corruption is the best grown crop in Sri Lanka.

  • 4
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    Don’t expect Coomarswamy to clean CBSL….It has become a robbery joint. you cannot clean such places easily…..I suggest CT readers to visit this place to see to yourself…..dozens of staff in every department idling doing nothing…..there are a set of so called security heads and security chiefs…..there only duty is to run a round guarding this old man Coomarswamy and impress him. so much public money is wasted and looted in this place. You can see how drivers and security guards run to Commraswamy’s MERC when he comes down from office to the car. God knows from whom are they trying to protect this old man…….Sadly public money is looted and spent lavishly by a set of thieves at CBSL .

    • 1
      2

      Thumpane Gamaya,

      This country indeed has no hope if we refer to men of Indrajit Coomaraswamy ‘s standing and calibre in the manner you have.

      Callous, disrespectful, rude and obnoxious, you almost sound like the average Sri Lankan commentator dabbling in politics.

  • 2
    0

    Shouldn’t Mr Coomaraswamy have responsibility to clearly explain to ordinary people the extent of scam and corruption existed in CB and the measures he has taken and suggested to the government. I am sure like me all srilankans wish and waiting to hear his assessment of previous and current status of CB.

  • 2
    0

    Not for nothing is our serendipitous tropical Xanadu placed at the crossroads of east and west. A perfect convenient watering hole for all who would sup in the never empty trough of forbidden opportunities. In the land of political mavericks, where impunity rules, and selective application of the law is order of the day, smoke and mirrors abound in our fledgling financial world.

    In this paradise of ours, Mr A M is indeed brave to stick his head above the worktop because in our newly Chinese-influenced world, the nail that sticks out gets hid hardest.

  • 0
    3

    Colombo Telegraph, You say comments should be restricted to 300 words. But there is one comment that is about 3000 words. Shouldn’t it be published as an article ?

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