President Maithripala Sirisena’s special statement regarding the final reports of the Special Presidential Commission to inquire into the allegations of malpractices in the bond issue of the Central Bank of Sri Lanka and the Presidential Commission of Inquiry to investigate and inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC):
May the Triple Gem Bless You
First of all, I offer my best wishes for the New Year.
As the people of the country are very eagerly waiting with high interest, I wish to make a statement on the final report of the Presidential Commission of Inquiry (PCoI) into the Bond Issuance of the Central Bank of Sri Lanka, which was appointed by me taking into considerations the opinion of the people regarding allegations of corrupt practices and misdeed during the period 2015 and 2016. This report was handed over to me on December 30, 2017.
The Commission was mandated to inquire into the period from 1st February 2015 to 31st March 2016 to find out actual facts and to make recommendation with regard to the steps to be implemented in the future.
I thank the Supreme Court Judges and former Auditor General who functioned as members of the Commission and its Secretary and the staff, and those who assisted the work of the Commission, Attorney Generals Department, Police Department and other relevant organizations and individuals.
The Commission is of the opinion that similar incidents as revealed in the Commission Report had happened even in 2008. The Commission recommends that the Central Bank of Sri Lanka should first conduct a forensic audit with regard to the alleged fraud and corrupt practices from 2008 and based on such findings legal steps should be taken.
Commission states that funds of the Employment Provident Fund (EPF) were lost mostly during that period.
The Commission has submitted a full report covering the period 2015 and 2016, comprising 1257 pages and it is not an interim report. The Commission has taken 10 months for this task.
I have already submitted this report to the Attorney General and the Commission recommends that the criminal and civil court action must be taken through the Criminal Investigations Department and the Bribery or Corruption Commission.
The Commission has clearly stated the structure of the Central Bank, Public Debt Department, direct issuance of bonds and the pros and cons of the system of bond issues and bond auctions. The report stated that the Perpetual Treasuries Limited has made profits through illegal means with the involvement of Mr Arjuna Mahendran, Bank officials and some outside individuals.
In the auction held on 27th February 2015 alone the Perpetual Treasuries Limited has made a minimum benefit of over Rs 688 million. The Commission is of the opinion that further investigations could reveal that this amount could even be more than that. As revealed during the investigations Perpetual Treasuries Limited has made undue profit of Rs 11,145 millions in the secondary market. In this Employees Provident Fund and other government institutions had lost more than Rs 8,524 million or Rs 8.5 billion.
It is stated that senior officials of the Central Bank were inactive before the former Governor of Central Bank, Arjuna Mahendran. It is believed that because they had not questioned about these and had become inactive, such incorrect decisions were made. Mr Mahendran has made interference into bond auctions through a system of incorrect and unconventional methods and he was responsible for providing internal information to outsiders. One party has used such information to obtain undue monetary profits.
The Commission report said that the honorable Prime Minister’s responsibility in the appointment of Mr. Arjuna Mahendren as the governor to the Central Bank was proper. The Commission is of the opinion that the Prime Minister made his statement in Parliament regarding the appointment of Mr Mahendran believing in the facts presented by Mr. Mahendran and Mr.Samarasiri, especially the promises made by Mr Mahendran. The Report also says that the Prime Minister should not have done that.
The Commission stated that moreover these facts were before the COPE committee and the Prime Minister had not stated that because of that he had not taken the proper action against Mr. Mahendern.
The Commission report refers to the allegation against former Finance Minister Mr Ravi Karunanayake regarding the payment of rent for the penthouse apartment belongs to the Aloysius Family and their Walt and Rowe Company and stated that Mr Karunanayake was responsible for that and recommended that the government should to take necessary action against Mr. Ravi Karunanayake under the section of bribery and corruption and further legal action under the penal codes for giving false evidence at the Commission.
The Commission stated to the misuse of funds of the Employees Provident Fund and stated that EPF should be investigated under the forensic audit examination to find out the amount of losses. The repot has recognized that, the dishonesty of a particular party had lead to this kind of malpractice on EPF funds. The people responsible for these frauds have been identified and the Commission recommends legal action against them.
The report recommends that, the legal action against relevant persons and officials who are responsible for the fraud including Perpetual Treasuries Limited, Arjun Aloysius and Kasun Palihena should be taken. Accordingly, the government is in consultation with the legal authorities.
Recommendation
*Considering the recommendations of the Commission, the government recommends adapting a new Monetary Law Act in order to avoid this kind of malpractices in the Central Bank in future. The existing legal provisions are old and need replacement.
*It is also recommended that the Registered Share Market Act must be replaced by a new legal act.
*Members of Monetary Board and Central Bank Governor must be appointed by the Constitutional Council in concurrence of the members. The regulations must be amended accordingly.
*The report recommends that there should be utmost supervision over the State Credit Department. As auditing at the Central Bank has not been conducted in a proper manner, the Commission recommended that the Audit Department must be reconstituted completely. A Legal Department must be established in the Central Bank and ensure that the Legal Department functions efficiently.
*As the Commission did not have the mandate to inquire into treasury bond issues from 2008 to 2015, the Commission had not done that. However, Commission recommends that there should be an investigation into that period too.
*The Commission recommends that the dealings with the Pan Asia Bank and the conduct of Chairman must be investigated unto.
*The recommends that activities of the EPF must be looked into and in order to bring the ETF into a proper order, steps must be taken to restructure the ETF.
*A code of conduct for the officials of the Central Bank must be introduced. The code of conduct for Primary Dealers must be revised and updated.
*The Commission has stated that the Attorney General and the Bribery or Corruption Commission must take the legal actions to implement the recommendations of the Commission.
*Under normal circumstances, recovery of money is done through civil legal action. However, it is a time consuming method. As an alternative, the Commission recommend that a Parliamentary Legislation could be passed and the money could be recovered in a speedy manner through a Parliamentary procedure. We agree to that recommendation.
*The recommendation of te Commission is that all the expenditure occurred for the Commission must be recovered from the Perpetual Treasuries Limited.
*I have already submitted a copy of the Commission Report to the Attorney General and he will identify the persons against who the legal action must be taken and initiate necessary criminal or civil legal action to implement the recommendations of the Commission.
*I wish to clarify here, that a minor amendment to the Bribery or Corruption Commission Act must be enacted to take legal action on the recommendations of the Commission. For this purpose, already experts at the legal draughtsman are working on the required amendment.
*The steps needed to make Bribery or Corruption Commission more active and efficient should have been done long time ago, and now we are taking required steps for that purpose.
The confidentiality, astuteness and auditing methods of the Central Bank of Sri Lanka were extremely weak. There were no tele-recording systems, electronic monitoring or even CCTVs. The current Governor of the Central bank has already taken steps to remove weaknesses and rectify these errors.
The Governor has informed that he has suspended some employees of the Central Bank after their malpractices were revealed in the investigations in the Commission and disciplinary actions are being taken against those officers.
I expect the Governor to make a statement in the near future regarding the shortcomings in the Central bank as revealed in the Commission Report.
I urge the Justice Ministry and the Attorney General to take early steps to draft the three bills proposed by the Commission present them to Parliament, in order to make required changes at the Central Bank to ensure such corrupt practices, frauds and malpractices would not take place in the future.
I have informed my Secretary to hold monthly review meetings with the heads of relevant departments and institutions to examine the progress in implementations of the recommendations of the Commission to take legal steps against those individuals and take other required steps in an efficient and speedy manner.
I would like to specifically state here that I would not hesitate to take steps to recover the loss of Rs 11,145 million and take legal action against the offenders and punish them.
The sum of Rs 8529 million of the total losses Rs 11,145 million was the funds of the Employees Provident Fund, Mahapola Scholarship Fund, National Savings Bank and Sri Lanka Insurance Corporation. The balance was from private institutions. Hence the loss to the public sector – EPF, Mahapola, NDB and SLIC was over Rs 8.5 billion. The Perpetual Treasuries Limited has made this profit of Rs 11,145 million within a short period of 5 months.
Finally, especially I would like to mention that this final report must be presented to the Parliament and through this initiative the report must be open to the public. In the future, necessary as well as legal steps in this regard will be taken expeditiously according to the advice from the Attorney General. I kindly request to consider the openness of the facts of this Commission Report and I assure that any hesitation would not occur in filing cases against the offenders. Furthermore, I wish to state that this is the final report of the Commission.
I have previously appointed a Commission and the report of that has been handed over to me. It is the final report of the Presidential Commission of Inquiry to investigate and inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC).
This Commission carried out their respective duties during the past two and half years. I extend my gratitude to the staff of the Commission and all the institutions including the Secretary and High Court judges for giving their support in this task. Already, 34 reports of that Commission had been handed over to me and recently 17 reports have been handed over and another 17 previously, the 17 reports handed over previously I have submitted to the Attorney General to take necessary actions through relevant institutions.
By now, the Fraud and Corruption Commission, institutions, departments and Police have taken actions to file cases based on the facts of these reports. The report which was handed over to me before two days I will submit to Attorney General within this week to take appropriate actions. Especially I have to mention the actions on this report will be taken in the near future.
The Presidential Commission of Inquiry to investigate and inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges has presented several major facts and it is the responsibility of the Government to implement facts presented at the Commission. I will explain to you regarding those facts for the general public information. Training and appointment of suitable officials as there is lack for skilled well-trained officials to carry out investigation regarding fraud and corruptions. This Commission emphasized that people without required qualifications had been appointed and only the qualified persons should be appointed to essential positions including the State institutions, Authorities and Constitutional Boards.
The Commission revealed that the money spent by the Government for the establishment of this Commission has already been recovered through the cases initiated through the findings of this Commission. A system must be implemented to hearing the cases in the courts in other areas as holding these cases only in Courts in Colombo is causing difficulties for those who travel from distances.
I must states a special thing, before I conclude the facts of these two reports, I saw a great eagerness and inquiring trend among the general public regarding these Commissions. At the same time when the Commissions were appointed, especially before the appointment of the Bond Commission, some people commented, even in Parliament that nothing had happened to previous commissions and the same fate would happen to this commission too. They also said the intention of appointment of a commission was to cover up the wrong doings.
But all of us must be very pleased regarding the fulfillment of duties of these Commissions and again I must thank the judges and all those who contributed in this regard for their great service rendered while wining the confidence of the general public.
Finally, I must state regarding the allegations leveled against me by some political parties for appointing these Commissions. I never appointed these commissions targeting any political party. I must specially mention in future when the cases are filed in accordance with the investigations and the recommendations and information of these Commissions, individuals belongs to two main political parties will be among the defendants in the legal process. We must be happy over our independent and impartial Judiciary. I must state all of us will provide our maximum support for this process.
Thank You
Dan / January 3, 2018
Let’s hope that for the sake of the Country Government will provide all required staff & assistance to the Attorney General to properly and independently investigate these cases.
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Dan / January 4, 2018
Commission had given a slap on the wrist to the PM for ‘ believing ‘ Mahendran. Even though Mahendran’s appointment is not illegal the whole country knows that the PM appointed this man ignoring serious opposition from the cabinet. He went to the extent of blocking the removal of Mahendran.
Under these circumstances Shouldn’t the PM be held responsible for this disaster?
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Sarrij / January 5, 2018
Dan,
Sure, the PM is responsible. So is the President who seems to be a “weakling” to the PM.
The PM basically dictates to the party as well as the country.
The AG’s dept works at snail’s pace; don’t expect much from this lot.
Unfortunately the circus will continue.
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Analyst / January 4, 2018
President
Please stop giving perks and privileges to the Ministers and MPs.
They’re all paid well to do their respective jobs, why we the public had to pay more for the postage while these rich donkeys in the parliament are given extra allowance for postage stamps.
Very unfair.
While we have been asked to be thrifty what about these good for
nothing glorious Nincompoops ?? They can live on state like PARASITES ??
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Don Stanley / January 4, 2018
The Buck stops with Bond Scam Ranil.
Ranil Wickramasinghe who appointed Ravi K as Finance Minister (when everyone knew he is corrupt) and Mahendran as CB Governor, and then protected them so they could operate the Bond Scam NETWORK for 2 years must be impeached for Grand Larceny and stealing EPF funds.
Ranil Wickramasinghe must GO first. It is only then that the AG will be able to do the work of catching the crooks. RW is responsible for the culture of immunity and impunity for financial crime in SL and he must share a prison cell with Mahinda Jarapassa and brothers/
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Samitha / January 3, 2018
Oh it’s just the miserable liar. Again.
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oldcodger / January 3, 2018
There was never any “billions in losses” from the bond deal. The 8 billion that the EPF is supposed to have “lost” is what it would have got OVER 30 YEARS if it had bid directly for the bonds.
So it turns out that the bond Tsunami is nothing but a storm in a teacup. How dumb can our people be, to fall for exaggerated politically motivated tall stories?
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Burt / January 4, 2018
This is what I have said from day one. These guys listen to crap from politicians and blabber.
If one reads the recommendations carefully they will understand that the govt not only does not have a case at the moment it does not even have feet to stand on.
Did some behave unethically they sure did. Did they break the law? With the information publicly available: I don’t think so.
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Radical Ideas / January 4, 2018
Look guys! the Govigama Mafiosi team must have decided to sacrifice somebody to save somebody. Menaning: the Govi scumbags are twisting their justice system to catch someone with a different racial profile when it comes to handling investigation into corruptions. in this case Arjuna Mahendran being a Tamil origin. What about the billions and billions of thefts made by the Rajapakses and others who are Govigama origin???? Gota murdered many innocent people and the murders at the Prisons by planning a fake riot incited by their insider patsies. Will any Govigama member be caught for their heinous crimes committed throughout a span of 70 years….?????????????
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Percy / January 4, 2018
Old codgers statement that the 8.5 billion loss of the EPF is what it would have lost over 30 years is false and incorrect. The loss has taken place and the beneficiary is Perpetual Trustees who made a profit of 11 billion in 6 months.from the scam. Unfortunately for the country there are apologists for rogues who have plundered the national coffers and who try to trivialise the enormity of this crime.
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Mallaiyuran / January 4, 2018
Which idiot says selling your shares on 2nd hand market is loss to government? Is that the logic the 1400 pages talks?. If the imbecile commission thinks that the 2nd had buyers got something good, why the fools in the commission failed to evaluate how much profit the 2nd hand buyers got through this CB Bond Scam? Is that that Commission’s stand that Tamils should not sell things in the Lankawe Market and make profit? Say the 2nd buyers have lost. Is the imbecile Commission is going to undertake the job to restore that loss from Aloysius?
The past history of Lankawe Rupee is continuous fall for now years. When I got out of my high school (A/L) sterling pounds was only 12 rupees. How much the worth going to be these bonds in 30 years? Is this an investment on Greek Bonds by Ajith Nivard for those who bought those junk and paid the price
Foolishness is Sampanthar still said yesterday that his Secret Solution will go ahead after the election and New King will do it. Is this ultra-Racist guy the who says A Tamil has sold his bond in 2nd hand market and made profit and this a crime, going to do that for Sampanthar? .
That is a plain and simple statement if a Tamil run a company this country, if it cannot be looted by the rowdies on the road, it will be looted by the law implementing machinery of the government.
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Percy / January 4, 2018
This idiot is saying that this is not a case of selling second hand shares in the market. This is a fraud where the CB Governor excluded other bond buyers by passing on information to one buyer, and the terms of the bond sales not disclosed to other bond dealers. You idiot if you read the report you will find that Perpetual Trustees swindled the country for $ 8 billion.yes this is a TAMIL crime.
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K.Anaga / January 4, 2018
Yes of course a Tamil Crime with the concurrence of the Sinhala government. If they can trust a Tamil for a crime of this nature why cant they trust the Tamils for Trust worth matters for the development of the country?.
What a bout 2010 – 2015 crime committed by the former Governor and Co.?
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Mallaiyuran / January 4, 2018
Percy,
I don’t know where the in-between line information you are reading that I could not read. Report said the loss to CB is Rs 700 million. Then it stacked over to help the New Royals in local election. Even that amount, 700 million, is only a guess work. To sell a $12 product, a company may have to give a salesman $12,000. It is not salesman’s fault he is earning that kind of remuneration (this is the problem Sinhalese had against Peter Hill, and instead of closing that airline, now they continuing to suck people’s money). It is the salesman’s evaluation that how much effort he put to sell the product and the quality of his salesmanship which fetch what rate on the market for an hour. A loss is the difference between the cost and the sales price, if the first one is higher. Can you put a cost for bond unit when it offered in private placement? If you know the price then why there is a private placing? Why don’t you put the price sticker on it and throw it in the supermarket shelf, anybody needed will pick up one? You may get the money you needed to run the CB or not is irrelevant there, when one talking of preventing private sector making profit. All the work, what The Commission did on that area, is pure speculation. The price on private placement is not bet based on the market knowledge. In those circumstances there is no insider knowledge. That kind of knowledge is identified when it is placed for public. You not are reading things properly.
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Mallaiyuran / January 4, 2018
If PT had used the insider knowledge, had quoted a competitive price cheaper than others and had won the contract, then what all the fuss from CB. Isn’t that CB should have got better price? Only people should have acted here is the private palace dealers who lost their sales because PT betted better with illegal knowledge. Remember this! It was other prices were better than PT, PT price was much higher. But PT won the contract. PT sold many times beyond what the tender was called for. Is that possible to create non-existed bonds with Inside info? This is a decision by the CB, not the PT. So there is not insider knowledge used to place the tender. Everyone responded to that private placement did have the knowledge of what the CB was doing. Because of that not one single competed organization had taken PT to SEC complaining PT traded with insider knowledge. Remember, your Sinhalese government impeached an Opposition Leader because he was Tamil, but could not sue him under 6A. The truth is you do all the funny things and then give you own name and judgements. Accept that fact first.
This is an extensive government corruption, not one Sinhala leader excluded, but twisted on privative businessmen because they are from Tamil owned company. (It was TNA worked hard to stop Swamynathan’s Iron cage initiation. If TNA had failed, by now he would be in prison.) This big fraud was organized by EP, PM, FM, CBG, and PT. Now all are unloaded on two Tamil Coolies.
The pathetic situation here is, it started with honest and good intention. That time CB was bankrupt and had no hope of raising a penny. So they all got together and schemed this.
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Mallaiyuran / January 4, 2018
They advised funding banks only to follow what they wanted and not to step out the line and wreck the CB without any money thus kill the stemming juvenile Yahapalanaya Government which was described as about to rebuild the Miracle of Modayas. But Aloysius did much better than anybody’s expectation. Then Commission flew around crazy to reward everybody’s’ effort. But New King was not happy, left behind, stranded on the shore alone until the Russian ship arrived.
If you employ a salesman to sell a product and after seeing it had costed to more than you expected and you took him to court to have his remunerations recouped saying that if you had auctioned your own it would have been cheaper to you, then that doesn’t work in Western courts. Your government always robs its people’s (it is like a mother stealing her child’s food), but wake up and go to court only if Tamils or a foreign National made some money legally. Remember, British court ordered CB to pay for the Petroleum Price Hedging case and blacklisted your government. Auction may be cheaper in some cases, may not be in other cases. A private placement is needed if the needed money can only be raised with additional effort, not just buyers betting on the open market. So PT was entitled to charge the fees through the higher price for the services PT was offering and it was beyond an ordinary broker’s buy and sell help at the open market operation.
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Mallaiyuran / January 4, 2018
When some foreign expert was asked that time what would be the loss on the deal, they said it depended on the market sales price and it cannot be retrieved back because it was a perception for that day only.
For its entire loss and profit, PT depends on the perception of the 2nd hand buyers of the bond. So whether 2nd hand buyers overpaid for PT is to be found out when their bonds are redeemed and if they get face value and then the face value converted to today’s value using rupees conversion rate against a stable international currency like dollar. Until that, if 2nd hand buyers had overpaid because of racist jealous Sinhala Colombo media, it is not PT’s problem.
You keep going back to that Emil Mahendran released insider info. We had written that Mahendran’s responsibility was sincerely disclosing to commission what really happened there. He should have informed The Commission about each and every politician who asked to deal with this in this way. But he didn’t. He might have been influenced by what happened to Pillaiyan. Ranil was saved by The Commission, not asking in depth questions. If Ranil have had seen a GG like cross examining lawyer, no need to tell, he would had got out of The Commission floor & walked away.
Entire world is watching that this commission was created to hide the $18 billion that Mangala told and to evade the UNHRC resolution to investigate the war criminals. One more time the Sinhala Jury Verdict on Tamils’ case been established to world. If the IC thinks that Sinhala Governments will investigate of how the missing 147,000 died in the war, which is only a dream. Unless this commission is another scheme of joint effort Ranil & New King to save them and trap others, it is time for Ranil to realize that he need to sign ICC.
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oldcodger / January 5, 2018
Mallaiyuran,
I think you re wasting your time explaining financial intricacies to people who fell for the schemes of Sakvithi and Golden key.
Financial literacy is less than 10% in this country.
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Kalu Nangi / January 8, 2018
Sirasa created a mountain out of mole hill over this Bond Scam story! They are after sensationalism …..and will do anything to show that everything that is being done by the UNP, especially PM, is corrupt. They even tried to make criminals out of UNP MP’s over telephone calls exchanged with Aloysius and Co..,
If one uses the same yardstick, Maithree would beat the UNP lot by a mile! He got Lanza, Gamage, and other SLFPers accused of bribery and corruption on to his side by offering them Ministerial portfolios. In spite of the court case against Basil, he secretively went behind him trying to get the murderers and looters to support the SLFP.! Now he talks of a sword….as if he knows how to use it!
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K.Anaga / January 4, 2018
When the Tamils were holding high positions in the Government previously did crime of this magnitude Take place in Srilanka?
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Sinhala_Man / January 5, 2018
Good point, Anaga.
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And has anybody got even a semblance of a complaint about what Indrajith Coomaraswamy is doing?
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oldcodger / January 5, 2018
Percy,
If you don’t understand how bonds work, please don’t make it so obvious.
1. The “loss” is the difference between 9.5% and 12.5% . That’s 3%
2. 3% of 10 billion is 300 million . Over 30 years this amounts to 9 billion.
Is that clear enough?
How did PTL make 4 billion then in 1 year? By selling their 10 billion worth of shares for 14 billion to people who were willing to wait a few years (or 20 years) to cash in.
BUT the loss to govt. is still only 300 million a year. This 300 million won’t buy you a second-hand Maruti in 30 year’s time.
THERE IS NO SCAM TO TALK ABOUT.
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Ruwan / January 4, 2018
Old Codger, What you are saying is incorrect! If Perpetual Securities made a profit of 8 billion during a very short period of time then someone should have made a loss at the same time! Therefore you argument is invalid! By the way are you related to Arjuna Mahendran in any way? Please don’t write about the bond scam in this forum as you seem to have no knowledge with regard to finance!!
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oldcodger / January 5, 2018
Ruwan,
Read my reply to Percy above. PTL made 4 billion (not 8) by selling in the secondary market. If the secondary buyers hold on for 30 years, they will get 1.2 billion EVERY YEAR. That’s how bonds work, if you don’t know.
PTL’s gain is NOT a loss to anyone. When you sell your 1987 model Lancer (200,000 at the time) today for 400,000, is it a “loss’ to the buyer????
PTL sacrificed a LONG TERM GAIN of 36 billion for a short term gain of 4 billion. That is not a crime in any respect.
I would like to assure you I am not related to Mahendran. Also, I have invested in securities and I know how they work, unlike some opinionated gas-bags on this forum.
If you can, disprove the figures. I AM CHALLENGING YOU.
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Kalu Nangi / January 5, 2018
Oldcodger, I believe you. I have read a similar explanation in an article published in the newspapers. It is the media which went to town brainwashing the public. They want a “good” story, to keep the money rolling in for their business.
The country faced a bigger loss on “Greek Bonds” unwisely invested by Cabraal during the previous regime.
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oldcodger / January 6, 2018
Yes, Kalu Nangi, most of our people may be literate, but they swallow everything the biased media tells them .
The presumed “loss ” from this “bond scam” is 9 billion over 30 years. The actual audited loss of Sri Lankan Airlines for ONE year ( 2014) was 29 Billion. Now why is it that no one talks about this???
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kolla / January 4, 2018
Is it OK for a so called PM to bring his foreign boyfriend as the Governor of the Central bank and then that Governor to sell all the government Bonds to his son in law ?
The government wanted one billion rupees but the Governor made it 10 Billion . Much later he produced an undated, un-referenced letter from the perjury accuse Ravi Karunanayake who is the right hand man of the PM.
The so called meetings that the PM refers to ( where massive government debts were discussed )have no minutes or even a record of, and does not seem to have had any government official present or even aware of .
The Governor raised the interest rates for the Bonds given to his son in law. The effect of this interest hike on the economy and the 22 million people living in this country is yet be calculated.
The Bank of Ceylon ( another primary dealer) which gave a huge loan( Billions) to Perpetual in 24 hours is run by another disgraceful sycophant crony of the PM and came under the PMs control. The EPF( another primary dealer) which bought the Bonds from primary dealer perpetual also came under the so called PM.
This PM defended Mahendran and son in law in the parliament and said the critics were fools and were like James Bond ( who is the fool now?)
This PM at every situation protected Mahendran. This PM in his evidence before the commission said he tasted the arrack ( Mendis Special) made by Alloysious at a private party and thought (why?) that Alloysious had divested his shres in Perpetual and there was no conflict of interest ! This generally happens when you taste premier Arrack !
So you ask what damage this PM has done to this country ?
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Park / January 3, 2018
President Sirisena sounded very honest in his speech, but at the same time he focused only on one Commission report and not on the second one which covered his own party members. This tarnished his image a bit. He also did not mention anything on the special courts he was talking about some time ago, wonder why? In my opinion, what ever said and done, at the end of the day the actions to be taken based on both these two reports will depend on how strong President Sirisena will be in the future. Today I am not very sure how his own party members who are sitting on the fence will react if actions are taken against them (this may be one reason why he did not mention much about the second report)? It also depends on how UNP is going to react? Without the support of both these groups President Sirisena’s own position is weak. Lets give the benefit of the doubt to President Sirisena and pray that he will succeed in his noble endeavor and he will impartially take action against all rogues.
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Singhalese pundit / January 3, 2018
Can President sack his PM for this reason?
Will he do it now?What about his precarious government in coloation?
What is this?
May be MR and co laughing now and wait for any crack in this government ?
Why does he do it Now?
That is why I keep telling the public.
Vote for JVP to teach a lesson to al this ?
JVP is Only party that is honest and good party to trust.
Forget 1988 and now it is gone.
Trust me JVP will do all for people not for them .
They are really good people with lots to offer
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Eagle Eye / January 3, 2018
Knowing very well what kind of a person Ranil is, JVP helped to bring him to power. Wijedasa told how JVP was rewarded for their support. How AKD bought a house in Ireland? JVP guys are also crooks.
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Bunjappu / January 3, 2018
Wijedasa was not a clean person. He stays silent, he should have been smeared that thick.
What are u babbling man ?
This country is filled with corruption and abuses.
What to be searched, less corrupted leaders.
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Native Vedda / January 3, 2018
Eagle Blind Eye
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“How AKD bought a house in Ireland? JVP guys are also crooks.”
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Is the house close to the school where Wimal Sangili’s children (Wibhuthi Wishwajith Weerawansa, Wimasha Wishwadariare) are studying?
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Nimal Jayasinghe / January 4, 2018
I thought wimalas offsprings are in China.
How can buggers offsprings own the genetics to study university courses, is my next question, Not looking down upon tree climbers, Wimal has not the knowledge of the basics, but his ANUS style mouth piece.
Wimal s anus style mouth piece was the loudspeakers for UPFA men in the high days, of Mafia king. Like an used condom being decayed, Wimal s is cornered today.
However, Udayagonthadipila is back after being caccooned for few weeks. However, the bugger number 2 would also do anything to protect, Mafia king.
Wimal s tongue should be rotten being used by Rajapakshes as reliable news sources revealed yesterday.
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Rajiv / January 3, 2018
Singhalese pundit,
Every politician is honest and has a conscious, when they are in the opposition.
JVP will be no different.
Case in point, Anura Kumara D’s son was getting a private education all the while they trash private educational facilities.
Dont be fooled. 90% of the politicians are crooks. Majority are O level flunkies and thugs.
I also heard that there is a rule out there that a MP could attend law college without the A Levels. Any truth to that?
/
Native Vedda / January 4, 2018
Rajiv
–
“Case in point, Anura Kumara D’s son was getting a private education all the while they trash private educational facilities.”
–
What are you talking about?
–
The wife decides where to send children for their education. These are domestic matters far more important than the national ones, hence left to the wife to decide what is good and what is bad for the children, and only the wife decides.
–
Let AKD deals only with national issues which are not that important.
–
Why don’t you get lost.
–
“I also heard that there is a rule out there that a MP could attend law college without the A Levels. Any truth to that?”
–
Dr Mahinda and few others attended Law College under this scheme. Whether the scheme is still in operation I would not know.
–
Why do you think MP’s need education? As long as a committee of academics decide politicians and war criminals are assured of PhD, LLD, …. DSc. If you love to have one of these fancy unearned qualification, win elections, defraud the people and state, kill innocent civilians, ……………………….. at some point you will be honoured with one of these title or you are bestowed with Deshamanya.
/
Rajiv / January 4, 2018
NV,
If the wife decides where to send the children for their education and its a domestic matter, then AKD should lets mothers of other children decide what to do instead of getting involved in domestic matters of others.
That said, you have agree that the JVP may go in the wayside just like MS if they savor power.
As I said, all honest politicians are in the opposition. Once they come to power, the looting begins.
/
Native Vedda / January 4, 2018
Rajiv
–
I was only trying to state the obvious, power play within the family. AKD may win some votes lose some however it is the wife that mostly have control over domestic affairs. AKD is no exception. He is also a politician, hence hypocrisy and intellectual dishonesty go hand in hand with all politicians. The scale may differ from person to person and justification also may differ.
–
The politicians do tend to believe in “do as I say and not as I do”.
–
“That said, you have agree that the JVP may go in the wayside just like MS if they savor power.”
–
Dishonest party or leaders cannot stay in power too long. However in the meantime they cause irreparable damage to the people, country and human relation.
–
“As I said, all honest politicians are in the opposition. Once they come to power, the looting begins.”
–
However in this island there isn’t much difference between rulers and their opponents. All have their hands in the till, of course at different times. Now look at the opposition. Dr Mahinda (LLD) and his cronies are also in the opposition.
–
In a democracy the leaders are expected to discharge their duty honorably while votes are expected to make informed choices. Both have miserably failed in the past 70 years.
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Burt / January 3, 2018
What a waste of money on a commission and the circus it has created.
Practically it states CB did not have proper operating procedures. What happened was happening at least since 2008.
Most loses to EPF was before 2015.
All fart no shit from the hit-an-miss commission.
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Janaka from Matara / January 4, 2018
100% agree.
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K.Anaga / January 4, 2018
By appointing the two Supreme Court judges to the Bond Commission, the litigants in the Supreme Court, whose cases were being heard by the two judges, too have suffered immensely. TheKy too should be compensated please.
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eldorado / January 3, 2018
The timing of the release of the report and action on it to be taken by the President is fraught with Political suicide for him. How he comes out of this will show the Public what the President is made of and very probably decide his Political future.
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Perriamma / January 3, 2018
Now didn’t the “great” Ranil W, state that “his man” Mahendran was innocent?
Oh dear or dear…whatever happened to “Mr. Clean”.
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Burt / January 3, 2018
Mahendran still looks innocent even after this report if you are to look at it without any biases.
Based on the commission CB did not have proper operational procedures, what happened as auctions, private placements were the same as that was happening at least since 2008. He followed the practices.
Mr. Clean is still clean. He just followed the crap Cabral created. If someone is to be blamed for this mess it should be Cabral.
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Kalu Nangi / January 4, 2018
Mr. Clean is no soothsayer! Unless and until a person is proved guilty, he is presume innocent. A commission of inquiry is not a court of justice. Mahendran’s guilt in the Bond affair has to be proved in court when a case is filed against him. This might happen at a much quicker pace under a special law that the commission has recommended be enacted in parliament. So, the “great” Ranil W, has done no wrong in believing his appointee has acted without any fraudulent intent, since that statement was made prior to the Bond Commission and furthermore, Mahendran has not yet been proven guilty in court of law.
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Percy / January 4, 2018
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Native Vedda / January 4, 2018
Perriamma
–
Didn’t Dr Mahinda Rajapaksa (LLD) during his last hustings tell voters “A Known Devil is better than an unknown one”?
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Ajith / January 3, 2018
“We must be happy about our independent and impartial Judiciary”
Dear President Sirisena,
I appreciate your courage to appoint a commission regarding this bond scam and publishing (?) this report. Hope Proper criminal and legal action taken against those criminals who are responsible for the crime. However, we all know that there were number of commissions appointed in the past but so far none of them were investigated or brought under justice so far. This report also highlight similar treasury bond scam in 2008 and it is your duty to ask the same commission to investigate that scam as well and to submit the report within a year during the period of this government. Further, we had LLRC commssion after the war and All party committe to find a political solution during the war where you were a senior partner in the previous govt. Unfortunately during that period the behaviour of the justice system was not qualify for your statement. So, can you appoint a commission to find out why the justice system completely failed in the past?
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Eagle Eye / January 3, 2018
President should do ‘Harakiri’ using the sword because by dissolving the Parliament without allowing the COPE report to be presented he became an accomplice to the Bond Scams that followed. If he allowed the COPE report to be presented and took action against the culprits, the bond scammers would not have gone for the second and third rounds. That would have saved billions of Rupees. As the Executive President he is supposed to take action but he did not take action at the right time because he wanted to save the UNP Bond Scammers who helped him to become the President. Now he cannot put the blame on others and hide.
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kolla / January 3, 2018
Finally this huge burden to the UNP and curse to the country has been exposed.
RW has had a unbelievably lucky run for 40 long years. Just count the number of foreign trips , cocktails parties, banquets and junkets this guy has enjoyed for 40 years and what has the country gained from that unscrupulous debauchery?
The UNP, one time the biggest party in the country has lost every election under RW.
MS as a Senior Minister was sitting pretty under MR . It was the UNP and RW who were in the opposition and unable to make crooked money. Because MR was thug, corrupt and abusing power many senior SLFPs were unhappy
MS made a huge sacrifice when he challanged MR. Had MS lost he would have been killed by the murderous Rajapakses. But not RW who was anyway in the opposition and most ineffective and unpopular.
UNP came into power only because of MS splitting the MR camp.RW should be grateful to MS for the chance of becoming PM again and the opportunity bring his glib and sleek talking Mahendran back to dirty this country.
RW has made the UNP so unprincipled and immoral that they cannot get rid of the most crooked politician in this country. RW acts arrogant only to keep intelligent people away from him. He knows that if they get close to him they will realize he is just a humbug with a big fraud. RW acts like he is a super man with all the answers . Now we all know the truth.
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thrishu / January 3, 2018
Thanks Kolla. You pointed at the fountain of UNP corruption, the fake hermit that falsely claim that he trusted others words to cover up his complicity. RK, AM, AA, Fund Holders all are just the pawns used by RW. All of them must be severely punished and none spared. All there investment must be confiscated as well as actions must be taken to recover the losses to the government and various pension funds.
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whywhy / January 3, 2018
The nexus between UNP and Perpetual treasuries should be investigated
to track down the real culprit ! The bond scam is a result of more than one
or two hands and the most recent history runs into MARA era and
probably beyond of which the commission does speak and recommends
to seek action . Well now , commission report is out and read out , what is
next ? Will this help My3 faction grab more SLFP supporters in the LG
polls ? One thing has clearly happened ! A commission heard a case where
govt big wigs were involved and its findings were so quickly handed over
to the president and quite unusually , read out in a flash ! In that , wow , the
miracle of Asia already ? What is immediately waiting behind this ? A not-so
destructive but could be a face saving LG election !
1 . Not a very bad Budget reading .2. Special food price relief for four months.
3. My3 the good man reading a commission report that faults Mahendran
and Ravi for wrong doing and let Ranil escape with his tail tucked between
his legs ! Now , when is the next step Mr Hero My3 ?
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thrishu / January 3, 2018
Missing from MS’ statement, and may be from he report:
1. RK deliberately instructing various bank managers and fund holders to underbid so that Perpetual could get their greedy hands on the loot, in doing so RK’s direct complicity and derelictionof duty as the minister in charge. Only his receiving the penthouse bribe and the falsehood under oath have been mentioned.
2. AM appointing his stooges to the high positions in the bank before starting his manipulations, his dictatorial behavior and actions that demonstrated his direct complicity and dereliction of duty. AM’s culpability as revealed at commission hearings has been watered down in the president’s summation.
3. Dismissing RW on the grounds that he merely trusted and believed his finance minister and CB Gov is a pathetic cop out. The man MUST have been charged with complicity for trying to bail the other scammers out after the COPE report, for planting his stooges at the COPE committee, and for his dereliction of duty and accountability to the public by failing to monitor the scamming conducted by the two key culprits RW the minister and AM the CB Gov. His total failure to manage his team, or dereliction of this duty, could be interpreted as RW was involved in the scam itself as if he was the ring leader.
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Burt / January 4, 2018
Grasping at straws: are we?
LOL
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Sarrij / January 4, 2018
t.
v apt observations.
RW seems to have duped the President, the AG and the “Commission” as well.
The “poor people” of SL have been taken for a ride again; the story of SL, destined to be duped?
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K.Pillai / January 3, 2018
Will someone please point out to us, the Lankan silent majority, as to what is special about this special statement without any hints as to contents of the report?
The last paragraph says ~ “…………..individuals belongs to two main political parties will be among the defendants……….”.
This is not a hint. We knew it all along!
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Burt / January 4, 2018
The silent majority is fast asleep. There is nothing material or special in the statement.
JVP wants a copy of the bond report, Gom-man-pila the accused thief too wants it, the silent majority is not that silent about it but in the mean time under the cover of this My3 has received another report with investigation on real crime and fraud an no one is interested in it.
“The final report of the Presidential Commission of Inquiry to Investigate and Inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC) was handed over to President Maithripala Sirisena today.
The 1135-page report was handed over to the President at the Presidential Secretariat by Commission Chairman Padman Surasena, Secretary H.W. Gunadasa and PRECIFAC members Vikum Kaluarachchi, R. Ranasinghe, Gihan Kulatunga and P.A.Pramathilaka, the Presidential Media Division said.”
I don’t think he will even pass it to the AG as he was part of the corrupt govt. that robbed the country blind.
When things were going bad:
MR said “I got files”
My3 said “I got a sword”
LOL
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thrishu / January 4, 2018
@ Burt, Struggling hard to keep the UNP nose above the water line? Are you? Go, grasp some more grass blades or go get a better life guard qualification …….
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Native Vedda / January 4, 2018
Burt
–
Beware while you are away thrishu would leave your door open to the war criminals. He/she is very proud to be a supporter.
Make sure you don’t leave cash and valuable in your house while you are away. In any case they will blame the victims for leaving valuables in the house.
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Jim softy / January 3, 2018
I herd Final Report was not given even to the govt Press in order to print because it contained so many names included. No one believes why PTL bribed very unrelated people. the answer would be they were in a bribing spree and bying spree for the future. This talk is not from the Final report I herd. In the final report the included were some embassy people, a Bohra businessman who is related to KAsippu businessman, One doctor from a well known private hospital from Colombo. the loss 688 million is very conservative. and another estimate is 750 million to Rs 3 billion. Even PResident’t Daughter’s had been there for those were given money. some money already had moved to NEw zealand (one guy ran away). Even during the Alhaj Badhiuddin, Rajarathname’s times similar things have happened. PResident has cleaned RAVI THE LIAR and Ranil Wickramsinghe. but one is a MAFIA Ledder and the other is a money launderer who cleaned himself becuse law changes by them. President is responsible for that letting laws to be changed that way. In CT, Dr,.wijewardane discussed how the politicians man handled a part of the Central bank that has to be independent even from the parliament. He even discussed how the govt printed money and accelerated the inflation in the country. That is simply a govt that doe snot know what to do. Just bulls in the China shop. Some of the accusation that Central higher officials were inactive is wrong. People need to remember how Mahendran started firing people and he gave instructions to monetary board etc. This is some fire works for the February 10th.
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Rajiv / January 3, 2018
My3 is no hero. He is an opportunistic parasite and corrupt. If My3’s SLFP comes in 3rd or 4th as expected, I bet Ranil will walk away from the joint agreement(i hate to call it a coalition) and tie his hands with the treasonous TNA and form a government. 40 years in politics and the self appointed “Mr. clean” is nothing but a thug(Batalanda) and a crook(Bonds). Unfortunately, the commission gave him a pass and a get out of jail free card.
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Native Vedda / January 4, 2018
Rajiv
–
“My3 is no hero. “
–
So are Dr Mahinda LLD, Dr Gota DSc, ……… Dr Sarath Weerasekere (PhD), Kamal, ………
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Burt / January 4, 2018
Mahendran still looks innocent even after this report if you are to look at it without any biases.
Based on the commission CB did not have proper operational procedures, what happened as auctions, private placements were the same as that was happening at least since 2008. He followed the practices.
Mr. Clean is still clean. He just followed the crap Cabral created. If someone is to be blamed for this mess it should be Cabral.
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kolla / January 4, 2018
Burt this is really humurous HA, HA HA
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Burt / January 4, 2018
Yes! I am laughing my ^** off.
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Jim softy / January 4, 2018
Bond Scam Ranil knew that PTL was in the business even during the Mahinda rajapaske time. RAvi the LIAr leaving to Singapore 13 times and Meeting Arjun ALoesius there, and also in London (I was said) Arjun Mahendran was in Singapore. It is Ranil who had instructed and given the list to Arjun Mahendran to whom to fire. Now, MYE is trying to cover for politicians.It is very clear MY3 is making him clean for the election. They may get ready to stay in the prison hospital and come home. that will be all.
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Jim softy / January 4, 2018
here MY3 has tried to clean the CLEAN MAN – BOND SCAM RANIL. How come Ranil is a PM when he is still holding the two culprits Arjun Mahendran in his ministry and RAVI THE LIAR in his cabint. If MY3 can not udnerstand that what is the leadership of MY3 when he is holding the PM still in that position without firing him. MY3 was elected by the people and not by an electorate or by MPs. I herd all these are election oriented and carried as per the agenda. IT looks, at the end they will continue to live the same
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douglas / January 4, 2018
Mr. President: You said: ” The Commission report said that the honourable Prime Minister made his statement in Parliament “BELIEVING”(emphasis by me) in the facts presented by Mr. Mahendran and Mr Somasiri, especially the promises made by Mr. Mahendran”. Do you honestly think that you need such a person as your Prime Minister. To say the least, didn’t this PM had an “INTUITION” to check on the facts presented to him before making a statement in Parliament? What CREDIBILITY, the Commission and you assigned to him in stating that the PM “BELIEVED” and made a statement in a place like the Parliament? Do the PEOPLE need such a person as the PM who can be made to BELIEVE and rely on PROMISES and run a Government of a country? Hasn’t he (PM) tarnished the IMAGE of this country to the level far below recovery? You as the HEAD OF THE STATE must think of these facts and act as a true STATESMAN. This is the time to think of a ex PM like Mr.Lee Kuvan Yew, of Singapore whose motto was NO NONSENSE MANAGEMENT.
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whywhy / January 4, 2018
Arjuna Mahendran – Royal college.
Ranil Wickramasinha – Leader of UNP – Royal College .
Ravi Karunanayake – Deputy leader UNP – Royal (A/L).
Malik Samarawickrama- Chairman UNP – Royal .
Kabir Hashim – General secretary UNP – Trinity .
All of them were at the president commission to answer questions .
All of them except Kabir are from one club that is Royal College.
All of them except Arjun occupy hot seats of the party and the Govt
until Ravi’s resignation . Now it is up to the reader to figure out WHAT
ELSE THEY HAD IN COMMON !
1. They go to one school.
2. Members of one party.
3. Ministers of one Government
4.All are invited to the commission .
5. Aloysius the bond dealer is connected to Mhendran .
Let us write the real script now !
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shankar / January 4, 2018
why why
for your information president is also from royal college.That is why he is covering up for ranil who is supposed to be blameless in all this.
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thrishu / January 4, 2018
President an ex-Royal College brat …….. not heard that before. His kid is.
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shankar / January 4, 2018
thrishu
why don’t you google and check.Are you accusing me of lying.You are lucky i can’t get hold of you on the internet,otherwise i would have requested a duel.
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Eagle Eye / January 4, 2018
whywhy,
In 2015, the voters in the country replaced ‘Medamulana Horu’ by ‘Cinnamon Garden Royal Horu’.
/
Native Vedda / January 4, 2018
Eagle Blind Eye
–
“In 2015, the voters in the country replaced ‘Medamulana Horu’ by ‘Cinnamon Garden Royal Horu’.”
–
That is the price the country paid to ‘Medamulana Horu’ for teaching a lesson Demelas will never forget. Don’t you think its well worth it?
–
Crime doesn’t pay however war crimes does pay.
/
nosey parker / January 4, 2018
WhyWhy
Hashim also went to Royal at one stage . Some say this whole saga will be swept under the carpet . That will make “people” like Burt and Old Codger very happy .
/
Jim softy / January 4, 2018
Yahapalanaya is a failure. In a Decent parliament, the govt should be dissolved. Because, it is PM and the former Finance minister. How can anyone trust that govt. Even PResident is cleaning it. Mahinda Rajapakse some how knew this that and he predicted last year the govt would fall this year. IT looks this will be another dram for the election time. Politicians, particularly the CLEAN MAN is unbelievably naked and SHAMELSS. for POWER, even he would do anything.
/
Good Sense / January 4, 2018
OK! The Axcellency has made a statement. For what purpose? Definitely to cover himself up and to announce that phase one of the exercise is over. In other words HE has done his part. Now the baby is in the hands of others, Attorney General’s Department, Bribery Commission etc. The man is only making a request for them to act not a direction. Why? Now through the PRECIFAC findings he has the opportunity to throw stones at the Jarapassa regime. Through the Bond Commission, his stab in the back partners can be placed in a limbo. Killing two birds in one go! I don’t think so. My friends are cynically asking when will the Telecom Commission be setup. The loan from banks as about at Jan 2015 was Rs 9 Billion. Three years later it has risen to Rs 40 Billion. For what? Isn’t the Axcellency himself is responsible for planting his brother as the big boss and creating this big debt? The super CEO is now resting at home for the next three months and pocketing a minimum of Rs 10 Million a month. Aiyo Sira! Take that sword of yours and cut off your own head.
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Mallaiyuran / January 4, 2018
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Eagle Eye / January 4, 2018
The Commission has proposed to recover the cost of the Commission from Perpetual Treasuries. From whom the tax payers in the country recover the cost of the Committee with three UNP stooges appointed by Ranil.
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nalmen / January 4, 2018
the unp should look for a new leader who will not make the same mistakes of judgment
mangala looks the best bet time for the partys young turks to make a move
ravis financial dealings should be fully investigated even before money laundering case when he gave a big donation to the unp
to balance things the cases against basil yoshitha namal should be expedited
unlike in the case of other commissions siras words must be followed by swift action
or the whole exercise will prove to be worthless
/
Jim softy / January 4, 2018
Dayasiri Jayasekara is one accused of the central Bank bond scam. but, he is saying what AG should do.
govt has appointed a Restructuring comittee to the to the Air line. It is headed by bond Scam Ranil and two of the resigning board are included. What a way to restructure. IT looks is all for covering up and giving more money.
/
Richard / January 4, 2018
Dear Author and all Participants,
Thank you all for your concerns and comments. Don’t be surprised the CB working under the previous regime cannot be brought to books so soon and so easily. Will you be surprised the unity Government is committed to safeguard the heroic brothers of the previous regime hailed as heroes by the majority Government. If not for the PM bringing Arjun Mahendran to the Central bank and enacting this new fraud, the civil societies and the JVP, TNA etc. cannot be distracted from persuading the heroes for corruption and war crimes. This is the specialty Sri Lankan politicians are famous for in fooling the world and the citizens.
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Watcher / January 4, 2018
Namal tried the same trick when MR was in power. He approached the BOC chairman with the same mob (PT ltd) to do the same trick and in this case BOC chairman who is a respected businessman refused Namal’s request for funds.. My advise for the chairman is to resign immediately which he did so.. He got impeccable credentials when it come to dealing with this kind of a scenario..
I have a feeling this bond scam was going on for a while and present govt or the president should look in to the Bond dealings for at least from year 2000 onwards.
Worst point of all these is Central Bank Governor Arjun Mahendran is not qualified for the job even as a deputy… This is SL’s curse since they all hire the wrong uneducated filth and get the country in to trouble or debt in this case. I was surprised this was not picked by the commission and this rogue, Anil should have impeached and should have thrown in jail since he has been doing these kind of scenarios using proxies and this time he got caught with his pants down.
EPF and other pension funds should have strict financial guidelines for investments and should be taken out from the polls… MR also put his fingers here.
This is why audit commission was diluted and this started long time ago so that ponies will steal money from these funds.
Ravi should be in jail and also they need to look into his ltte money laundering issue since AG, deliberately charged him under a different act knowing he will be off.. What a bunch of crooks running the law and order. AG’s dept in politicised and need to be fully independent.
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Upali / January 4, 2018
According to the commission report Perpetual Treasures has made a minimum profit of Rs.688 million [Amount somewhere near the Tsunami funds transferd by MR to a private account ]from the Feb. 2015 deal compared to Rs. 5 billion to 1000 billion shouted out by JO including the learned professor GL and the tuition master of Rs.2500 fame Bandula. [How can a family live with Rs.2500 a month when you can buy only 42 loves of bread with that money.] Although the JO boasted that all fifty of them will give evidence before the commission only Bandula went and he was reprimanded by the commission and others developed cold feet.I cannot remember name of the idiotic former minister who said the loss is a trillion Rupees. Anyway now the report is out let saner council prevail.
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citizen perera / January 4, 2018
Both MS and RW are political opportunists with no feelings towards the country. This is MS;s first political speech for the election. UNP has done enough damage to the country through this affair and RW deserves no respect. Now it is only the JVP which is left. I do hope that people will forgive their past sins and give them a chance. SLFP, SLPP and UNP take masses for asses. Nothing will happen to the culprits named in this report and only people are fooled all the time.
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Mallaiyuran / January 4, 2018
The Commission stated to the misuse of funds of the Employees Provident Fund and stated that EPF should be investigated under the forensic audit examination to find out the amount of losses. The repot has recognized that, the dishonesty of a particular party had lead to this kind of malpractice on EPF funds. The people responsible for these frauds have been identified and the Commission recommends legal action against them.
What is the hold up for the Honest New King to release the names and their party of those dishonest ones? Saving him in LG election from backlash of accusing patriotic heroes?
/