13 December, 2017

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Ranil At Bay: Wild Allegations Without Substantiation

By Rajiva Wijesinha

Prof. Rajiva Wijesinha

[Part 2 of this series was published on December 1, 2017]

(16) and (17)

My reply is as follows

I have combined the two questions because everyone knows how Mr Arjuna Mahendran went down to the auction floor and interfered. It is kind of you to phrase the question in terms of what is in Mr Mahendran’s briefing note, since no such thing exists and I am let off the hook about responding with regard to what he actually told me. So I cannot be caught out about my dodging the question as to his responsibility, which you will note my obliging lawyers, Pitipana and Co, supported by saying he was not responsible, ignoring what soon became common knowledge, that the officials in charge had minuted how he compelled them to make the recommendation he wanted.

And I can surely satisfy you saying that the available briefing note marked X 1, relates only to the procedure followed at the Auction held on 27th February 2015. 1 do recollect however that Mr Mahendran did in the course of conversations with me, refer to other attendant circumstances pertaining to the Auction held on 27th February 2015. In this context I have referred to these circumstances in the speech made by me in Parliament on 17 March 2015, to which reference has been made in Question Nos. 18, 19 and 20. The fact that I totally misled the house as to what happened is not something I will answer questions on, so you can decide as to whether I lied in saying that the claim that he interfered with the work of the Tender Board is not true, or whether he misled me and I rolled over and took it and never reprimanded him afterwards.

(18)

Question number 18 is as follows-

… you have said “I insisted on a public auction because private placements have led to corruption and lack of transparency. Previously, parcels of Government Bonds were handed out to selected individuals on a favoured basis … This led to an unhealthy link between some of the officers of the Central Bank’s Public Debt Department, Primary Dealers and large corporations who benefitted from such private placements. This practice only enriched a handful of cronies of the previous Government.”

What were the sources of information you relied on when you made those observations?”

My reply is as follows-

The Commission would no doubt appreciate that this relates to a statement made by me in Parliament which is vested with the control of Public Finance and if you go too far I will insist that I am answerable only to Parliament, which I have been compelled to say later in this affidavit when the questions were a bit difficult. I have already referred to the criticism that had been levelled against “Private Placements” and the reasons for the policy decision in favour of Public Auction and it is stupid of you to ask for my sources because obviously they are my friends in whom I have full confidence, and I will continue to have confidence whatever they do so long as they do not let me down. So let me only say that The unhealthy links referred to in question No. 18 were gathered by a group of MPs which included, Eran Wickramaratne, Dr. Harsha De Silva, Sujeewa Senasinghe and several others, and also from comments made by other Parliamentarians and News Paper Reports which I cannot actually remember now since I do not need reasons or evidence for my decisions.

(19) and (20)

… you have also stated that, on 27th February 2015, Mr Mahendran advised the Public Debt Department, in the presence of two Deputy Governors [i.e. Dr Weerasinghe and Mr Silva] that, Bids up to Rs. 10 billion should be accepted. You have then gone on to say that, the allegation Mr Mahendran interfered in the decision of the Public Debt Department with regard to its recommendation on the amount of Bids to be accepted, was factually incorrect.

What were the sources of information you relied on when you made this statement?

My reply is as follows-

The statement made by me in Parliament on 17th March 2015 was based on information relating to attendant events pertaining to the said auction provided by Mr Mahendran and Mr Samarasiri -Deputy Governor of the CBSL and Chairman of the Tender Board and in the course of conversations with me and I see nothing wrong in my relying on Mr Mahendran to provide me with the basis for saying that he did nothing wrong. After all Mr Samarasiri in the briefing note I could not remember seems to have corroborated the position I took up in Parliament, and I will stand by it to the extent of saying that I saw no reason to disbelieve Mr Mahendran and I have the fullest confidence in him now even though it seems he cut corners.

And I tried to stop further inquiry into the matter by claiming that the Pitipana Committee appointed by me was required to inquire into the matter impartially and I undertook to table their Report in Parliament on receipt of same which I did though some time after I received it since I was a bit nervous since they did not say nothing was wrong as I had hoped, and totally failed to throw the blame on Cabraal which I had thought they understood was why I provided such irrelevant terms of reference given what Mahendran and Aloysius had done.

(21)
Question number 21 is as follows-

“The Report of the “Three Person Committee” chaired by Mr Gamini Pitipana, Attorney-at-Law inter alia states, with regard to the Treasury Bond Auction held on 27th February 2015, “The Committee at this stage can only make an observation that the bidding pattern of Perpetual Treasuries and securing nearly 50% of the accepted bids as unusual.” The Committee goes on to observe that “… a full-scale investigation by a proper Government Authority is warranted.”…

Are you aware of any action taken by the CBSL and/or by the Ministry of National Policies and Economic Affairs, with regard to the aforesaid observations and recommendations?

My reply is as follows-

At that time, you do not mention a time but I need again to assert that I was transparent and honest on March 17th when I misled the House, the Pitipana Committee of inquiry had not submitted its Report. I apprised Parliament that the Report of the Committee was awaited and that upon receipt it will be placed before Parliament to enable Parliament to take such action as it deemed appropriate. Subsequently, the Pitipana Report was tabled by me in Parliament and a debate ensued in Parliament. Actually this was not the case because we did not want a debate, and we managed to persuade the Speaker to hand it over to COPE. I told Rosie and Sujeewa to stall the investigation but a report was prepared, and since its findings were damning I used everyone I could to pressurize the President into dissolving Parliament. But the matter would not die down, so it was handed over to the new COPE, though in fact there was a long delay before Sunil Handunetti could commence his investigations.

Despite that Report, and the Report of the Auditor General, I wanted Mahendran to continue, and it was very naughty of the President, after all I did for him, entirely for his sake and not to get power for myself, to insist that he be replaced, and then not allow my good friend Charitha Ratwatte to take over, because I could rely on him to do whatever I want I have instructed the Attorney General to take steps according to law against any persons who are culpable, irrespective of their status or party affiliations though as you can see from the way in which Kabir and Malik and I are being treated by the Commission and the Attorney General’s Department, there must be at least some respect granted to those of us who have done so much for Perpetual Treasuries, if not the country.

I decided to look into the transactions prior to 2015 once the COPE Report was tabled. This has been postponed until the conclusion of the sittings of the Presidential Commission but if I am still in place I will get Cabraal by hook or by crook.

(22)

Question number 22 is as follows-

“Did you consider that, it was fit and proper for Mr Mahendran to continue to serve as Governor of the CBSL after the events of the Treasury Bond Auction held on 27th February 2015?

If so, please briefly state the reasons for that view?

My reply is as follows-

As stated above I had already tabled the Pitipana Report in Parliament and a debate ensued. Parliament decided to refer this issue to COPE and was awaiting a report in order to take appropriate action in this regard in the event that Mr Mahendran was found to be culpable. In the interim, Mr Mahendran went on leave and his tenure of office ended prior to the submission of the COPE Report. As stated above, I have forwarded the COPE Report to the Attorney General to take appropriate action if there has been any transgression of the law by Mr Mahendran or any other person.

I am especially proud of this answer because it completely ignores the question and introduces so many half truths that, even if my good friend the Attorney General whom we handpicked for the position wanted to question me, he would not know where to start. I tabled the Pitipana Report in May, long after Mr Mahendran came back from leave. It was not Parliament, which was not allowed to discuss the Pitipana Report, but the Speaker, who referred it to COPE, and then. It was over a year after the first Report was prepared, and became a public document when it was tabled in Court after Sujeewa Senasinghe moved Court to stop its publication, that the second Report came out. Before that, though I moved heaven and earth to keep him, even though the Auditor General I had handpicked had been scathing about the bond issue, the President insisted on him being replaced.

[26] Question Number 26 is as follows-

“A copy of a text message said to have been sent to Mr Arjuna Aloysius by his Personal Assistant [Mr Steve Samuel] on 28th November 2016 and which states ‘Reminder – to request Hon. PM & RK to get a copy of Monetary Board meeting/papers need to be submitted today 28.11.16”, has been produced in evidence before this Commission of Inquiry.

Have you ever provided or agreed to provide copies of Minutes of Meetings of the Monetary Board or any other documents or reports of the CBSL, to Mr Arjuna Aloysius or to any representative of Perpetual Treasuries (Pvt) Ltd.?”

My reply is as follows-

I deny that I had agreed to provide or provided copies of Minutes of meetings of the Monetary Board meetings/papers to Mr Aloysius or any other person. I resent the insinuation and can only regret that Mr Aloysius did not reprimand Mr Samuel for sending such a revealing message which has no basis whatsoever in truth, despite my continuing friendship and affection for both Mr Mahendran and Mr Aloysius (though I will not go so far as to say I continue to have full confidence in the latter, not least because he has allowed his underlings to leave so much evidence floating around).

To be continued…

Part (i) – Ranil At Bay: An Annotated Version

Part (ii) – Ranil At Bay: Dodging The Question As To Whether Mahendran Lied

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Latest comments

  • 20
    4

    Rajiva: Thanks! Your dear cousin Ranil, Ravi K. and their Royal College cronies networks needs to be impeached before they cause anymore damage to Lanka’s economy and its reputation.

    There is NO FDI coming to Lanka because of Corruption and ill repute of Finance Sector – Nothing else.

    Sri Lanka needs a policy of Zero Tolerance of Corruption today and must investigate money trails and ensure return of looted funds, to pay off the national debt – rather than sell off strategic assets like land and labour — as Ranil plans to do, and load it onto people in form of taxes.

    • 8
      2

      Dodo way to go! Ranil must be impeached before he sell off
      Two Wrongs never made a right..
      Does not Ranil know this? That corrupt Mahinda Jarapassa and Nivard Cabraal ran a pyramid scheme does not justify the Bondscam. This is the reason for the Culture of impunity and immunity for corruption today –
      Ranil had 2 years to investigate Cabraal’s pyramid scheme and investigate its beneficiaries who were named in Panama Papers.

      Also, Ranil’s Vision 2025 written by US. Millennium Challenge Corporation (MCC) Economic Hit men who say that Transport issues and land and labour are the reason for lack of FDI are lying. Their plan is that Ranil will sell assets cheap to US hedge funds. Global and local corruption networks that the IMF does not want to investigate because it legalizes financial corruption to benefit global 1 percent.

      • 4
        0

        “Sri Lanka needs a policy of Zero Tolerance of Corruption”

        How true!

        This is what Rajiva canvassed for and implemented during his time in the Mahinda Rajapakse government.

        It’s sad to see with the fall of Mahinda, Rajiva’s Zero Tolerance policy has gone to the dogs.

        What a sad day for Lanka, that upright and non-partisan people like Rajiva has no place to express their great love for the good ol’ motherland.

        Only in the sunny isle of paradise …………… now that they have stopped printing the funny papers ………..one gotta thank for the free entertainment ……………

        • 10
          1

          Great anti-corruption crusaders like Rajiva seem to be be all wound up about a mere 10 billion worth of bonds. As the PM pointed out in Parliament the other day, 4500 billion was given in private placements from 2008 to 2014. Where were all these crusaders then?

      • 6
        1

        Dodo is absolutely right. And yes, everyone in MR regime era must also be prosecuted and punished the same way as RW regime. Deal with the current regime’s corrupt now, while investigations on the last lot are going on. There is no need to forgive anybody on the basis of balancing two corrupt groups of criminals. RW’s proposals are meant to save his own skin, the slippery eel. Get on with the punishments, now!

      • 3
        1

        After impeaching Ranil, Sri Lankan authorities should follow lead of Crown Prince of Saudi Arabiawho is backed by Donald Trump to revive that country’s economy. He has apprehended 200 corrupt business and political cronies, including Princes, and is keeping them in a luxury hotel Prison, until they agree to pay or return funds looted / taxes owed to the Saudi State.
        Sri Lanka needs to follow Crown Prince Bin Salman’s initiative to restore Saudi economy by stamping out High Level corruption, and arrest Mahinda Rajapaksa brothers, sons, and SLFP cronies, the UNP Bond scammers, pump and dump boys named in Panama Papers leaks who looted the Central Bank and Stock market, and recover the funds to pay off the massive national debt.
        Lanka also should tell IMF to F-off and keep its Fake economic advice and fake experts for fools!

    • 7
      0

      Rajiva, we perfectly know you cant digest Ranil. You yourself have proved how team player you could be at the begining of the current govt. We remember you were behaving like a mad man appointed to mnistry of education … attacking the former UGC head who came into being the close asssociation of Mr Medamulana. Remember ?
      You guys have always been pointing the finger at Ranil, CBK and others, just because they would not give chances to you and Dayan Baluthilaka the most abusive mouth piece of the lanken spot light.
      Anyways, the freedom of speech is improved in the current govt. I dont want to crticise the current duo,knowing the ground realities of the country. Most would not even know what Good governance means, so better to go with jungle law getting the Rajapakshe hedgemonist back to the field.

    • 2
      0

      And appoint who as PM?

      Get real fool. Without Ranil, that cesspit Rajafcuksa will come back.

  • 27
    5

    Mr. Rajiva Wijesinghe,

    It is true that the bond scam did happen. We the public don’t need commissions or your POV to understand that. But please explain to me why you were not as vociferous as you are about the UNP scamming things when MR and family scammed the country and its people for a whole decade. He also scammed his own people in Habantota of Tsunami money.

    The reason for your article baffles me!!! #selectivememory

    • 11
      3

      Unbelievable. Sri lanka has so many people to protect thieves and question when some one talk about white collar thieves. bond Scan Ranil shows his judgement by keeping a corrupt CB governor still in the ministry payroll. What kind of reputation does the Central bank has when it is kept under politicians as we know now the politicians are thieves. Politician gang up with others and the beaurucrats and steal.Why voters are this unfortunate to have law makers as thieves.

    • 14
      2

      What sanctimonius crap from a so-called professor with an overblown sense of his own importance. Where was he when MR and his cronies were robbing the country?
      Oh, we do know ! He was propping up MR in Geneva, London and other places using his plummy accent to defend the “Humanitarian Operation”.

      • 8
        2

        Oldcodger

        He tried to sell his book on the war to every Tamil whom he met in London according my friend the old codger.

      • 2
        6

        Senile OLd codger: Ranil said he was coming to correct all those. Pepole forgot that he gave Justice of Peace position to a Rapist and a well known thug. So, prosecute BOND SCAM Ranil for supporting Fruds and crimes during the Mahinda Rajapakse era too.

        • 5
          0

          Jim softy

          It is worth remembering your tribal leader Dr Mahinda Rajapaksa (LLD) protected a large number of killers, thugs, crooks, war criminals, rapist, ……………… from long arm of the law including his sons, brothers, cronies, his b***s carriers, members of his tribes, and himself.

          What are you on about?

          • 0
            0

            For me, always Mahinda Rajapakse and bond Scam Ranil were in the same boat. They are relatives and they protect each other always,. they both have the same curriculum vitae.

        • 0
          0

          Dumb Jimmy,
          What Bond scam are you talking about? Give the figures.
          DON’T YOU KNOW 4500 IS MORE THAN 10? Are you really that dumb/ do you have 4 legs?

      • 1
        0

        Professor is a teaching title by the way, if anyone would nt consider it accordingly…. So long the guy would not remain in professor assignments, he or she should be called as Profs.
        These men have proved sofar, how capable they have been. Rajeeva for example cant continue to be loyal to any parties. He thought his browny mentality could fit to lanken politics. So is the case with GLP. Glp is very intelligent in academia, but let fall into the group of the thugs that would not know anything but to promote extremists thoughts.
        Going back to 90ties, I mean mid 90ties, if Glp BOTH ends have not been crossed, I still rememember the manner he had been supporting any good solution for which late great Mr Kadir and CBK supported wholeheartedly.
        Very same guy to behave like a teeny boy who is blessed with the toys given by parents, being part of Mahinda Mugabe Rajapakshe, I think he is made a life long loser or not ?
        These show enough about lanken interllectuals and their contribution to lanken active politics.
        This is very common to south asian abusive politics.

  • 0
    0

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  • 3
    2

    Let us appeal to Buddhist clergy to come forward to protect Arjuns. If Cabral is taken in for Greek bond fiasco probably they will come forward to save him.This is unfortunately our politics. May I appeal to Buddhist clergy who represented matters to save GR from being arrested to do the same to save poor people who rob coconuts mangoes and the like to feed their hungry children. When Buddha preached ” Monks go from village to village and spread my message. Two should not take the same path” Buddha meant the wider public not the high and mighty.

  • 1
    4

    UNP Ranil Wicks all his domestic and international policies seem to have made a uncertainties on Politically, Economically and socially through out the Island widely by the very day starting power transfer from MR since 2015 January 8th.
    His (Ranil) involvement has grabbed CB bond scan in that headlines of all news media thanks to sized of Bond scandal crime committed by UNP leadership. But now we have Ranil Wicks ,probably because that his mismanagement of Sri lanka Economic growth, which ended up with lost of Trillions of Rupees of CB Bond scandal of the public funds.
    The a lot of people losing that faith of UNP leader of Ranil W..that popularity and the whiff of Neo-liberalism arrogance about that his politically ended up with public disappointments whom vote for him. UNP. .Large number people have said CB Bonds scandal want impartial inquire and investigation by legal binding procedures. Absolutely that Ranil was reluctant that goes before PC-Bonds inquire give an evidences. At last public expected before going PC he will resigned from the post as Primer of Govt.?
    He has no backbone to do so.!

    His commitment was very clear .And that was unusual to be first-time Primer-Minster has been summons to public Commission of biggest and size of trillion of Rupees involved fraud PUBLIC FUNDS belongs Govt. of Sri Lankan that after 1948 Independent Ceylon ?
    We all expected keep in political and personal dignity and honesty has must leave Premiership shake of maintain Country’ image in Global villages. That did not happen at all.
    We lost international reputation and disappear nation credentials once and for all.

    Even recently Ranil of UNP has Not played a significant role in managing our country . So the RW may be vacillation of game of political power but all Sri Lankan not that willing RW take the leadership of nation.
    The well place addresses of efficiencies and that fairness does not pay much attention CB Bonds scam by President of SL and UNP’s.
    By predictably stormiest moment of scandal of Central Bank Bonds are already contesting the legitimacy of Bond plans by the Primer of Ranil Wicks to carry forward after appear before PC.
    He want to remain political-power by hook or crook?.

  • 3
    0

    In this game, nobody is Mr. Clean. All the so called experienced people have dirt in their hands. But can an inexperienced fellow give lead to the country? Once in a blue moon there can be but in most cases not. So what is the choice that the people are left with? Definitely not a clean administration which we all look for. Once in a while we vote one rogue in preference for the other. Young are disillusioned with Democracy branding as Hypocrisy. All is ripe for another Zimbabwe style turn about. But that is the end of Sri Lanka because the chap who takes over will loot the entire country in 24 hours. So, despite all odds it is these fellows who can do something in the right direction to prevent the ultimate disaster.

  • 9
    0

    The post from ranil’s relative rajiva is a farce. So no need take the professors comment seriously. He was almost a yes boy of the rajafucksas.

  • 8
    0

    Rajiva is suggesting that the bond issue is the only scam in the land of milk and honey.
    Rajiva assumes that we, the Lankan silent majority, are fools.

  • 1
    4

    What Prof. Rajiva stated here is exactly correct. People like him has no place in this country.

  • 7
    1

    Rajiva Wijesinhe is like Mahataya of LTTE fame.Be in the Family and betray!

  • 1
    3

    All the Tamils and those who support bond Scam Ranil should know, that Ranil’s pledge before the election as he would establish FCID to catch and bring back the loot. Instead, I heard, GALLE-ON RAVI brought laws to legalize money laundering. Bond Scam Ranil said he would prosecute Rajapakses. Instead he signed verbal – MOUs.

  • 5
    0

    This guy has been sleeping in a back street for several months and suddenly woken up to defend the slippery eel RW. I would not take him seriously: I remember where he was one time, fraternising with foreigners, bringing their selfish agendas and not concerned for the country’s long term welfare.

    • 5
      0

      You are spot on Mr Richmondian.
      I think Rajeeva and DJ are both so devious. They are no suitable to lanka anywhere.
      Had this man been a prof to an Uni, he could help number of stundents in doctorates.

      What have the kind of men been doing ? They as profs have been loosing the learnt knowledge.

  • 0
    0

    The GAME is over. The WINNING has been sealed. Has any of the YHAPALANAYA , including the President ever thought “RANIL” = the crook would do that with the passing of the “Foreign Exchange Control Act of 2107? The entire GANG of 97 who voted it to be passed in Parliament and made it an Act of Parliament have to be dealt with seriously and that includes the President. Where are the “Civil Society” Organizations? Where are the “GANGS” of Prof Sarath Wijesuriya; that “Puravesi Balaya” led by Viyangoda? I am told that JVP voted against it; but what have they done to INFORM the Public? Have they told that this Legislation has given the covering approval to operate the “Money Laundering” business and granted IMMUNITY to cover all such activities of the previous regime? Where are your “PROTESTS” and “SEMINARS” against this Legislation that would make this country a “ROUGE STATE”? Shame on you.

    • 0
      0

      Because, of the foreign exchange control Act of 2017, retroactively, GaLLE ON RAVi is acquitted. So, he can continue. there are so many who have foreign accounts with links to small islands and to small govts such as Monaco, Macaw, they all are acquitted now. IF they wish and when they wish they can bring money freely. They say their inheritance, just the way Kiriella and Mahindananda Aluthgamage say by their great – great great grand fathers who lived overseas. No one will question as money was brought in as the politicians are privileged people who should not be questioned because they have parliamentary privileges.

      • 0
        0

        Dumb Jimmy,
        Where do you keep the money from toilet cleaning in Canada?

  • 0
    0

    More twists and turns than my rusty old corkscrew.

    Looks like our Professor Rajiva is paying back his nemesis, with interest.

    • 1
      0

      Tell us one single thing this man to have done during the last 5 years ?

      Nothing, he no second to a mulling granny would do, these both keep on criticisiing. No practical contributions. We can talk a lot, in a country with almost every second is twisted by crooks what talks about good governance. Rajieva is Very impractical to politics. So is Dayan selfproclaimed analyst. Dayan Baby repeats where he comes from what background he had been … But Dayan s academic achiements should not have been sufficient him to be a professor how come ?
      All in all, these men are the virulent part of lanken political struggle.
      They should better take care of them than trying to add their two cts publicly.
      Simply nitwits for lanken practical politics.

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