22 September, 2019

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Jayasundera Interrogated On Hedging Deal

Former Finance Ministry Secretary has been interrogated by the newly established Financial Crimes Investigation Division today over his involvement in the hedging deal that incurred a loss of Rs. seven billion to the government.

Dr. PB Jayasundera

Dr. PB Jayasundera

Police Spokesman ASP Ruwan Gunasekara said as part of the first set of the large scale financial fraud investigations undertaken by the FCIU, Dr. PB Jayasundera was questioned today.

Jayasundera who was a powerful figure during the Rajapaksa regime, came under heavy criticism with regard to the policies made concerning the country’s economy, not simply from the Opposition parties but even by the allies of then government including the JHU, which described him as a ‘white-collar criminal’.

In 2008 he had to resign from his post as the Treasury Secretary due to a Supreme Court verdict that ruled that the sale of shares of the Lanka Marine Services to John Keells Holdings by the then government in 2002 had resulted in a violation of fundamental rights. Then, as per a request of the SC he submitted an affidavit through which he pledged that he would not accept any public sector position in the future. However, in August 2009, he filed a motion seeking to relieve him from the affidavit stating his services have been requested by the former President Mahinda Rajapaksa. Accordingly he was appointed the Secretary to the Treasury and the Ministry of Finance and Planning the following month by MR justifying the appointments, claiming its in order to secure ‘national interests’.

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Latest comments

  • 19
    2

    PBJ was a senior public servant, experienced and highly educated to suit his job. He should have advised the then government correctly without singing hossana to all what politicians say and do. If they don’t listen, quit the job with protest. Now, no alternative PBJ has to face the music. Good lesson for public servants in this political arena.

    • 7
      2

      dcn,

      “PBJ has to face the music.”

      Do not be so optimistic. It only seems like a high-tech circus to me, so far.

      PBJ has not faced any music what so ever. So far. Given the size of crimes he is accused of.

      Clearly criminal cronies of Rajapassa regime are called in for statements. Nothing else. They enter and leave, after having a chat over tea with the corrupt Sri Lanka Police.

      It is nothing, but a revolving door for serious financial criminals. Designed to mislead the stupid Sri Lankan public.

      Meanwhile anybody who steals a coconut due to hunger are being thrown into stinking Police cells. And beaten overnight.

      Cheers!

      • 12
        1

        Ben Hurling

        You are right. Small robberies are treated with immediate punishments but large scale Robberies By politicians go unchecked. In my opinion in our country the middle class do not come forward against these crimes, exposing them adequately and vigorously may be through fear of ‘white van’ etc. Further most of our journalists are also act in a biased manner for whatever reason
        Nevertheless, all of us should not fail to do what we can do against these crimes, even in a small way.

  • 8
    1

    Its not PBJ, Ravi Karunanayake is severely undermining the Port City project almost harassing the management there. At the same time he is finding excuses to keep the disgraced Central Bank governor in charge.

    Ravi is an ultra Tamil nationalist. He is NOT working for collective Sri Lankan interests. The guy is a fraud and his work needs to be overseen.

    He does underhanded things and then says “we are putting things right”. The Port City is needed for exactly the opposite reason Ravi does not want it there.

    I cannot believe he has people such as Rajitha Senaratne and even Patali not doing anything about him.

  • 3
    0

    Jeyasundera or Mahendran, it is all the same. Do we have someone who has what it takes to run Central bank or Ministry of Finance. If he was relieved from affidavit because of our beloved MR’s grace, what to expect, the writing is on the wall to the MOF.

    I heard this guy conducted a big seminar on the need to have a stable government just before the Jan 2015 President election, and participants commented it was nothing but a propaganda for MR. One thing we should admire about this Dr is he was loyal for his master.

  • 4
    1

    I thought the bugger had left the country following Basil ?

  • 8
    2

    Bunch of crooks got together then plundered the Nation for many, many generation. Hang him with MaRa, GoRa, BaRa, Booruwansa, Nirvaan Gabraal and who else on the list??

    • 4
      0

      Ravi K?? CBK??? Arjuna Mahendran??? S B??? Pavithra???

  • 3
    3

    Ravi K has switched electorates from Kotte to Mattakkuliya.

    He realized that he cannot win Kotte.

    So switched to an area where he could win!!!

  • 3
    1

    This convicted rouge was reinstated by the mega rouge and assisted the latter to plunder and waste the wealth of the nation.
    This can happen only in Sri Lanka – the mega rouge thought that he had the protection of Buddhist and Hindu gods, but they enforced justice at the election.
    Now, all rogues who prospered under him are being investigated.

    • 2
      0

      “Investigated” is as far the country will go in a system of governance in this country that faithfully follows the “you rub my back and I yours” culture. At most, a peon down the line will get the sack. With the passage of time and that notorious short memory spell of the Lankan electorate most everything will be forgotten and the country will be open for plundering again by new rogues.

      Backlash

  • 2
    0

    Ravi Karunanayake is an Ultra Tamil Nationalist?

    Pray,lead evidence!

  • 2
    0

    I thought this guy escaped to a foreign land soon after the election results were declared! How come he is back?

  • 3
    0

    Many seem to believe that nothing more would happen to these culprits than being interrogated. I would advise such to have patience that the punishments will follow. See what happened to Mahinda Abeykoon in the Central Provincial Council who was sentenced to two and a half years RI for violating Election Laws. Do you believe that this type of Judgement would have been delivered under MR? Never! Therefore give the system a chance and all will be punished in time.

  • 0
    0

    [Edited out]

  • 2
    0

    PBJ is a well educated guy – however he turned a blind eye when it suits him for many wrong doings of the Previous Regime – So he is basically a smart crook -At present Yahapalanaya guys are more interested in increasing their hold on Parliament – So they are trying to show the voters that they are after crooks – These kind of silly politicking will not help anybody – Voters are educated enough to understand that the Present Gov. for the time being cannot bag all the crooks – as they have more serious issues to Handel –

    – Anyway If we really catch all the blue , green and red thieves in this country and put them behind bars – then we need a prison of size at least half of this country -– Due to the absence of rule of law for many decades thuggery , robbery , mockery of law had become accepted norm of the day – a man who is honest is generally considered a fool , but a man who can earn money by the way of commissions, bribes are considered smart guys.And no one will think bad of them and they live among us freely – This is the pathetic reality of this country – Therefore the biggest need of the day is to establish rule of law in this country and eliminate corruption – streghten the institution to fight against corruption – eleminate wide spread indicipline and thugeery in every sector of the country – I sincerely hope 19th amendment is the starting point – and the establishment of independent commissions is fundamental – however finding good really honest people to man these commissions going to be a difficult task – because these species are almost extinct in this country – may be living in other countries

  • 1
    0

    PBJ turned a blind eye on many shady deals.

    He should be held accountable.

  • 0
    0

    Following the Supreme Court judgment he shouldnt have returned as S/T.
    When you sleep with dogs nicely you will have to experience these types of calamities.

    • 0
      0

      Mervyn Silva,

      Is the expression “when you sleep with dogs you must expect to get up with ticks/lice”?

      Rumad

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