Colombo Telegraph

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

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’.

Back to Home page