22 October, 2017

Maithripala To Appoint Presidential Commission To Investigate Bond Scam

Months after the Committee on Public Enterprises (COPE) found ex-Central Bank Governor Arjuna Mahendran guilty, President Maithripala Sirisena on Sunday said that he will appoint a special presidential commission to investigate the bond scam at the Central Bank.

Maithripala Sirisena

Maithripala Sirisena

In a tweet on Sunday, Sirisena said, “I will appoint a Special Presidential Commission of Inquiry this week to investigate the Central Bank bond issue and recommend actions.”

In November last year, Sirisena said that the judiciary must decide on the bond scam, and it was not a matter to be interfered by politicians.

According to the Auditor General the country lost a staggering Rs. 1.6 billion due to the scam at the Central Bank which occurred during the term of Mahendran. A 55 page report by COPE in October found Mahendran guilty as he was directly responsible for the Treasury Bond transactions at Central Bank in 2015 and 2016. The scam resulted in the country losing Rs. 1.6 billion, while primary dealer of Central Bank, Perpetual Treasuries Limited, which is linked to Mahendran’s son-in-law Arjun Aloysius, recorded a profit of Rs. 5.1 billion for the year that ended in March 2016, an increase of 430% in profits in comparison to the previous year at the company.

Following the COPE report, the joint opposition lodged a complaint against Prime Minister Ranil Wickremesinghe and ex-Governor of Central Bank Arjuna Mahendran, requesting the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) to investigate both over their role in the Treasury Bond transaction. However, according to sources the Commission has still not initiated an investigation into the complaint. Since the COPE report was released, several SLFP ministers have been urging the President to appoint a commission to investigate the scam. (By Munza Mushtaq)

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Latest comments

  • 4
    4

    If Mahendran is not willing to get out of his place and tell the truth, he has to be dragged to the court and made to do that.

    I think this or some other thing will make him to do the right thing.

    • 6
      6

      Mally,

      Is Bond Mahendran still advising Batalanda Ranil?..

      Does he get paid by the Yahapalanana suckers who are in the PAYE Tax bracket?.

      • 5
        1

        KASUMANAWATHIE will never focus it away from Batalanda for which court had once given its verdict, but what matters to this date should have been the ground realities of the high grabs – amounting to Billions of dollars being kept on the bank accounts of Rajapkashes (Dubai National Bank).
        No doubt, the ground realities of those stolen state funds will come to light sooner than later – that is certain. If any srilanken national works for such banks would leak the the information, can cost all the Rajakashes on the spot. That is what being made by the intelligence these days. Lately, the issue came up with the numbers however, the ROYAL BOY- Yoshita Rajakashe is still not return from his oversees trip to Australia, how and why he withrew 500 Million dollars form NDB Dubai on his way to Australia were observed and information is in the air – this is believed ot be a fact. All these they have to confess if not today tomorrow. That is like sun has to rise tomorrow… that will not sink – jaya niyathai. Wait and see.

    • 2
      2

      A very good step that should be commended.
      In the high days of Athigaru, not even a single committee was appointed, instead, their men that have been the kings and frontrunners of the corruption and high profile crime cases, made every efforts to fool the nation sending wrongful information through those media men made by them to promote their hegemony. Artistes came up and held a speech each time after any high crime revealed to cover the incident by boasting about the ROYAL tactics of eleminitation long standing terror within the country. In simple, eleminitation terror had been made by them a licence to do anything any everything no matter the size of the harm had been . So even today, hegemonic thoughts stand on the way, no Rajakashes are being called for any kind of inquiries be it regarding Lasanth Editor murder, Thadjudeen sportler murder or that POLITICIAL CARTOONIST s disspearance from earth hole -no matter the torments of those families have been. No matter the people s displeasure have been. No matter the justice is being further suppressed not serving it as promised in the election pledges.

    • 8
      2

      President Maithripala Sirisena

      re: Maithripala To Appoint Presidential Commission To Investigate Bond Scam

      Good appoint one, and then at the end of 2 years, just sit on it.

      Didn’t Cabaral under Mahinda Rajapaksa so more or less the same bind scams?

      Any way, any presidential commissions to investigate the Turncoat, Traitor, Gna, Mala-Perethaya, and Sevalaya who was elected by 6.2 million voters, and who in cahoots with the Criminals and crones of Mahinda Rajapaksa ans even BBS?

      Do you wnat to appoint a “Presidential” Commission, and then sit on it?

      FCID? Judges?

    • 4
      1

      Nothing seems to be moving forward in terms of serving the justice, but the justice against all thse culprits.
      We have been caught as if our wounds have been even made hurtful further.
      Please do somethin president, we the ones who voted you into power expected much more. We are so fed up of th situation by today.

      In next week or so, they the culprits have planned to do lot more protests .. how can we bear all these this way ?

      Tell us also, what happened to that Yoshita who was just approved to have visa to Asutralia just for a MONTH, I can see him reutrning though the month granted is over.

      Have the buggers left the country, since you and your PM failed to catch the bulls by their horns ?

    • 2
      0

      You may be right, but in the meantime our man will sit tight and keep on appointing Commissions in the false belief that he has found a solution to the myriad problems the Country faces. He will continue to do this till one find day he will be find himself back on his BUTT in the rice fields of Pollonaruwa !!

  • 10
    1

    If Sri lanka wants to solve corruptions they never work this way. They simply steal and live their lives. Poor maids work, get killed, ruin their family lives and send money to be wasted and to be stolen by these politicians.

    The whole bond scam is exposed and youtibe clips are available to explain how Ranil wickramsinghe did it twice, first time Rs ($?) 20 billion and the second time Rs 77 ($?)billion. Because of that perpetual treasuries profits billions a year. Arjun Mahendran was never fired. Instead he was given another and a better position under Ranil wiciramsinghe. NPw he is lookinf after all the mega proejcts that we still don’t have.

    This presidential commission is another political manoever to make voters believe . that the president is conerend about it.

  • 11
    0

    Here we go again – with another one of those “Commissions”!!

    If we go by the history of such entities, we could bet that absolutely NOTHING will come of it and it will just go to prove that these pronouncements are nothing more than ‘bullshitting the public’.

    So what else is new in our glorious ‘Wonder of Asia’???!!!

  • 11
    0

    Haha..another smoke and mirrors exercise to exonerate
    a politico’s buddy, no doubt.
    Commission after commission, till evidence and laws are bent and twisted, and the desired result is achieved.
    It would be another insult to the intelligence of the Lankan public, and sure to resort to ‘in your face’ farce.
    Maybe it’s what a public that just can’t be bothered to stand up for their own rights, deserves.
    Aiyo Sirisena…you are a corrupt fraud, a true Lankan politician.
    I for one never held my breath,expecting change from this government.

  • 3
    1

    If it is a special presidential commission under the Special Presidential Commissions of Inquiry act and not the usual Commissions of Inquiry Act then the whole focus would be on abuse of power. If found guilty by the Commission there would be no penalties it can impose but recommend a 7 year disenfranchisement of parties concerned only (No jail time) to which the Parliament must agree with a two thirds majority.

    The ideal authority to look into is the CIABOC who then can take the matter to Courts. In fact the COPE report was supposed to be handed over to the AG but it appears to be at a dead end.

    Everyone has an idea of the Great Nation Robbery by the pasr Regime. But fellows are rounded up for very small matters, remanded for a few weeks in custody and then released. Gruesome high profile murders were committed. Investigations are moving at a snail’s pace. Even if it goes to courts chances are that the accused are acquitted. Oh! God! Is this Good Governance?

  • 8
    3

    A welcome and long overdue move. I hope the Commission will be constituted of persons with expertise in Central banking and bond issues. Foreign expertise should be sought in a consultative and investigative capacity.

    We have to learn from past mistakes/misdeamenors, if any, foreclose possibilities of recurrences in the future and clear or confirm accusations against the former Governor Arjuna Mahendran. Was he a victim or the conspirator?

    The Commission should also suggest ways and means of insulating the Centrsl Bank from political interference and ensuring its independence, while clearly defining its role and functions.

    The Commission should also inquire in to the role of the former government and the former Governor-Ajit Nivaad Cabral, if any in compromising the integrity of the Central Bank.

    Dr.Rajasingham Narendran

    • 5
      1

      Dear DR. R N.

      Your comment is well balanced. COPE has found Arjuna Mahendran guilty and after all all cope members are politicians.

      Every person is presumed innocent until proved guilty. No person shall be convicted of any offense unless his guilt thereof is proved beyond a reasonable doubt.

      After all we know who politicians are and let the courts decide what is the best action to follow.

    • 7
      0

      Good. But let us hope that this is not yet another part of the infighting within Yahapalana.

      We’d like to see an end to the pampering of corrupt (some of them unelected, and even defeated) SLFP Members of Parliament. Also, will the President undo the damage done by making statements that implied that “War Heroes” are immune from prosecution. Judges obviously will not act with courage in such a climate.

  • 6
    2

    What a waste of resources!!

    Any educated human being knows there is nothing wrong with what Arjuna Mahendran did…

    If was the previous central bank governor who was following questionable practices…

    • 0
      1

      “Any educated human being knows there is nothing wrong with what Arjuna Mahendran did…”

      Then who is responsible for the loss? How many years the CB is in operation? What loss preventive mechanism has been designed and put in place?

      The answer is fence ate the crop. Crooks broke the law.

      Modaya mass will not learn anything from this. But at least the thieves will cover and do rather than being so naked and no damn care for anybody attitude on their burglaries.

    • 0
      0

      Education is a very loose term .We get educated in so many ways from the day we are born .All that we learn and unlearn is by this so called education we receive outside the campuses of higher education and conditioned to accept for the sake of peace …..so we learn that bending the rules is smart and no conflict of interest if some smart lawyer who pores into his law books and find the ambiguous law a loop hole may be .for all laws are not water tight …that is how criminals with clout walk home wishful thinking for others .those days the voice of the people was aptly expressed by the kavikola karaya who would compose his kavy to make us think beyond the sentence beyond the plea made by a lawyer in defense of the accused this was in the 50s …So be it ..The people await with patience .A minister profoundly says that skilled labour migrates to greener pastures ..it could not be for the wages alone but finding a semblance of ethics somewhere to bring up their kids and give them that much needed informal education from witnessing some law happening around them ..and a quick redress if a law is openly flouted with resignation of Ministers and Public Officers .Sometimes I think woe is the day when our Elected Reps were chosen from the lawyer mob or at it happen the leadership given to them for they know how to silence the opposition ..and the proposition too .

  • 8
    2

    This is another gimmick by MS before the PS elections.Let us hope that the voters in this country teach Maithree and Ranil a bitter lesson this time round. Unfortunately the alternative is Mahinda Jarapassa whose follies are even worse. As such the only option is to destroy one’s vote.This country is a genuine “BANANA REPUBLIC.”

    • 2
      1

      I have never destroyed my vote. If you do that they think you illiterate. There always are honest people contesting although the stand no chance of winning.

      Dr Bahu is one. Or if you are too much of a Sinhalese nationalist to do vote for him, vote even for the JVP.

  • 2
    1

    Maithripala Sirisena started a commission parallel to the FCID. Did anything happened ? they are just collecting to sabotage others. that is all.

    • 1
      1

      MY3 also introduced, intependent police commisions and several other comissions. If you have eyes, that you should have seen. What matters to us is move of all these in a snail mode – not that nothing is being done. It is all your athigaru is in a firm mode to rabblerouse and create a new blood bath if anything would start against Meeharaka Rajakashe and his most alleged 40 or more thieves.

  • 4
    2

    empty talk, empty talk and empty talk. commission to erase out biggest financial scandal ever to be taken place from minds of general public.

  • 3
    2

    Is Sira serious?..

    Batalanada Ranil’s , not just one but three UNP PCs gave Bond Mahendran a clean bill of health,

    Batalanda’s boy and gun UNP Minister cum Lawyer, Senasinghe put the vex CB PhDs to shame , by giving a full run down on how the Bodns are issued under Yahapalana.

    And tell the media d what a marvellous job his boss’s dear friend from the Diaspora has done to help the Yahapalana suckers.

    Then Batalanada Ranil the PM himself mocked the Opposition to boast what a beautiful job this genius from the Diaspora has done to help the Yhapalanaya and the Yahapalana suckers in particular.

    Then the COPE came with all the bells and whistles and went.

    Is Sir smarter than all the above ?.

    Where can Sira get Lawyers or Judges who are better and smarter?.

    Unless Sira wants to get a few Goda Perkadoruwas ( Bush Lawyers) to hoodwink the irate supporters in his camp.

  • 4
    0

    The proposed inquiry should make a genuine attempt to find out why Ranil Wickramasinghe defended Bond Mahendran throughout. We will then see the alleged cleanliness of Ranil Bond!

    • 1
      1

      “The proposed inquiry should make a genuine attempt to find out why Ranil Wickramasinghe defended Bond Mahendran throughout.”

      That is what it is!

      Why, irrelevant of Mahendran is right or wrong, Ranil is in that game? If Mahendran tells the truths, another one will come forward and tell why Dilrukshi resigned. If these two thieves are exposed, Yahapalanaya election promise of “No leader, No Commander, No Soldier will be investigated” will come to an end. Yahapalanaya crooks have kept none of the decent promises, but that criminal promise.

      If Ponner and New King are not investigated for war crime, Old Royal will not be investigated even for a theft of penny. If the Old Royals are not investigated for a crime of substantial in nature, why President Trump should not help them to come to power as they are asking? If the Old Royal did not do any serious crime they should be given the chance to come back to power. They killed 145,000 Tamils to rule Sinhalese. It was Tamil who toppled him. Some statistics suggest that 90% of the Sinhala voters are with him now. They deserve to be the EP and/or PM for Sinhalese.

      Not one Sinhalese is worried about their justice system. But Tamil Justice Sriskandarajah committed suicide to straighten Sinhala Legal system.

      Mahendran should stop putting deals with Ehelepola and Pilimathalawa to save Sinhala Government. True, Commission will put the blame on Mahendran and save Ranil. Mahendran has to take risk and follow the example of the professional Judge Sriskandarajah.

      He has to let the world know how the Sinhala Kingdom, Modern Kotte is run. If Mahendran wants to think about the 145,000 murders of his own kids and women, this is the time for him to throw himself in the ring.

  • 3
    0

    President Maithripala Sirisena had ordered to release the Presidential Commission’s report on the Central Bank Bond issue within three months.

    The gazette relating to the appointment of a Presidential Commission of Inquiry to probe into the bond issue will be released this week.

    President Sirisena had directed all relevant parties to extend their fullest cooperation to the Commission to successfully carry out its duties.

    May we remind his excellency to bring the murderers to face justice within three months. Eg: Raviraj Lasantha Thajudeen Ekneligoda French aid workers trinco students after all bond issue happened in 2015 murders took place during the period 2005-2012

  • 1
    0

    Apparent cracks in gon palane?

  • 0
    0

    “I will appoint a Special Presidential Commission of Inquiry this week to investigate the Central Bank bond issue and recommend actions.”

    Recommended actions – File case against all those who caused the loss and recover the loss along with heavy fines. Imprison the individuals who failed to take due care in preventing losses.

  • 1
    0

    What this needs is prosecution, recovery and stepping down those who are responsible before any prosecution. Nothing of that kinds happen.

    Instead president is covering it up with this commission ust for political reasons.

  • 2
    0

    In any civilized country Mahendran would not be allowed to participate in any government activity until his name is cleared from the very serious allegations arising out of COPE report.

    However in Sri Lanka under the Yahapalana Ranil Wickramasinghe the so called Mr Clean allows him to participate even in Central Bank meetings under the presumption that he is innocent until found guilty.

    These things happen only in underdeveloped countries with dubious leaders. Welcome to Sri Lanka. Is there any difference between the previous lot and the present lot.

  • 3
    0

    Yet another mockery step by the clown. He dissolved the parliament just before COPE being presented to the parliament and made it clear, PM and his cronie Arjun were saved. Then, ex boss of COPE, DEW was blocked to entering the house and saved the CB thieves. It was proven, Mahendran robbed CB, but you Excellency, kept mum and did give the indirect support to continue his service.

    So, Mr. Clown, stop bullshitting the people of this country. Your a proven failure in every aspect, when it comes to the progress of this country.

    Your departure from the top post in Sri Lanka will ensure a better Sri Lanka When will that lucky day comes to the mother Lanka? Sooner the better.

  • 1
    0

    Yes the President can create a commission, and get some bigots on it and they will find them guilty as charged.
    If they ask the police to investigate and charge based on the prevailing laws I don’t think there is a case.
    As long as you dint break the law there is nothing wrong in how much profit you made out of it. Is it ethical: that’s a different issue.

    Not the same issue but sort of a similar out come when Trump made a fortune but paid on taxes. He has broken no laws.

  • 0
    0

    If Arjun A and his PT, by pre-meditated design, make a mega-fortune at the expense of the country then by all means take him and all his fellow conspirators to task through transparent and due legal process. But do not unleash a witch-hunt on successful Tamils – Arjun A, Arjuna M, the Selvanayagam Bros and so on in the current environment only because they are Tamils. I am afraid that is what the Sinhala media is conveying to the Sinhala public. That is also the toxic design of dregs like that rogue priest Gnanassara Thero, Gammanpila and others hoping to reach political heights on an anti-Tamil platform.

    Kettikaran

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