30 May, 2020

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Video: Dr. W A Wijewardena Criticises Forensic Audit Reports On Bond Issuance

Dr. W A Wijewardena, a former Deputy Governor of the Central Bank of Sri Lanka, has today spoken about the reports on Forensic Audit/Investigation on issuance of treasury bonds during the period of January 1, 2002 to February 28, 2015 by the Public Dept Department of the Central Bank.

Dr. Wijewaradena has particularly said that the method used to calculate losses in the pre-2015 and post-2015 eras by forensic auditors is flawed.

He made his remarks with News 1st NEWSLINE talk show host Faraz Shauketaly.

Watch the interview in full:

#BondScam

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Latest comments

  • 29
    7

    Is he covering himself or Cabrral? All of them are crooks.

    • 36
      9

      I always, thought, bond scam issue was not the fault of Mr Wickramsinghe. There I am even today, I have nodoubt when truths come to light, MARA should be hung by his balls than anyone else being convicted.

      Big mistake done by Mr Wickramasinghe to have introduced Mahendran is a big mistake, but not even we were aware of Mahnedarn to be a fake expert. He has not had any expertise in his profile to be branded as such.

      I dont mind Mr Wickramsinghe leaving PARTY politics, but his name should be made clean, by the arbitory attacks made by SIRAS on him. for their ABUSIVE media culture. Let alone, SIRASA has not REVEALED WHETHER or not they were offered some more FREQUENCIES by being close to SIRISENA the most abusive man, if I would meet him, would never be backward to throw MONOTOF cocktails on him. for all the abusive politics he has delivered to the nation within the last 4 years.

      • 8
        14

        What are are you trying say? Wickramasinghe is clean?
        Wickramasinghe portrays to be clean and his bag boys do the unclean stuff for him! Check who is running around behind him these days – Surprise! Surprise! His Bag Boy Bond Ravi, the one who was entrusted with the UNP Cheque Book!

        Also are you not aware that under Sri Lankan law a person aiding and abetting a criminal is also a criminal! and is punished the same way as the criminal!

        I will bet my last rupee and say that Wickramasinghe was very much aware of an impending bond scam before they occurred as the two scams were a mechanism to pay back campaign finance arranged by Bond Ravi thru his “buddy-in-crime” Arjun Aloysious. Check out the dates of the scams. First one 1 month after presidential election and second 1 month before the general elections!

        May be Wickramasinghe did not know Bag Boy Bond Ravi and AA were getting a 10x payback!

        Did you know this my friend?

        • 0
          4

          [Edited out] @Concernedsrilanken, please stop using abusive language, we won’t be able to edited out as always – CT

      • 10
        1

        There is no question that the interviewer is a hitman used by Sirasa Group , whoever their directors target. It is media character assassination. I am not defending RW on his part in Bond Scam.

    • 1
      6

      Having qualified competent people in your family circle is not your fault.

    • 13
      0

      Buddhist,
      I think both. He is trying to pretend that he didn’t know what Cabraal was doing. As a member of the Financial board, either he is in or else he has to be an utter ignorant which makes him unqualified for the job. There is a third option which is to turn a blind eye hoping to retire without much trouble but it is no much different from being ignorant.

      The real problem with the CB is that as a Gvt institute, it is also suffering from the same deceases prevailing in other public sector institutions: Lack of ownership and therefore owns by nobody. This make it easily vulnerable to corruption by well-connected crooks. When MaRa became the president cum finance minister CB became an easy source for money to finance his election machine. He ignored corruption by others in return for his share. As MY 3 once revealed after he broke away in 2014, MaRa has told his loyalists in public that it is OK to steal without getting caught. I don’t think that CB could escape from this MaRa motto.
      _
      I believe that Ranil & Ravi, through Arjuns, knew exactly what was going on in the CB and therefore allowed it to happen, at least once, in order to cover election costs of the 2015 election. If Ranjan’s version is correct, had not for an unexpected coincident of Kanchan Wijewardena went looking for Aneeka to penthouse Ravi bought via Arjun, the bond scam story would have stayed as a secret as it stayed until then for so long! Was it Ranjan & Kanchana W were the source for the JVP who broke the story first?

    • 17
      0

      It appears Wijewardena will be in trouble. He is concealing something.

    • 10
      0

      Dr. W A Wijewardena,

      RE: Forensic Audit Reports On Bond Issuance

      “Dr. Wijewaradena has particularly said that the method used to calculate losses in the pre-2015 and post-2015 eras by forensic auditors is flawed.”

      So, if a non-flawed method is used, whatever the results., won’t it will still be a scam? Of course the degree and extent of the losses will be different.

      From the grape vines……

      Mahendran, Cabraal should both be arrested, tried: UNP

      Former Central Bank (CB) Governors Arjuna Mahendran and Ajith Nivard Cabraal should be arrested and tired in court as the forensic audit reveals that the bond scam had taken place from 2005 onwards and continued even after 2015, UNP MP Thushara Indunil Amarasena told a press conference held yesterday.

      “One cannot deny the revelation made in the forensic audit. We are not willing to cover up the scam that took place during our time, which is why we call for the arrest of both individuals who governed the Central Bank during the period in which the scam took place. What had transpired prior to 2015 is similar to stealing coconut from an estate by loading them into a lorry in the estate premises and what happened after 2015 is that sacks full of coconut were thrown out of the estate,” he said, while calling for the extradition of Arjuna Mahendran from Singapore.

      Meanwhile, former Western Provincial Councillor Niroshan Padukka who participated in the press conference said the EPF had been put on risk by investing its funds in companies that were not listed in the Colombo Stock Exchange (CSE). “This should also be investigated,” he said.

  • 5
    24

    I heard fornsic report is also make arjun Aloesius not at fault. So, Forensi report looks like some pre arranged set up. A part of the 900 million can be in the pockets of the one who gave the contract. Is it Ranil or Mangala who gave the contract ?

  • 22
    4

    This moderator is one of the stupid moderators that SIRASA TV has hired FOR THEIR propaganda, destroying Mr WICKRAMSINGHE for such a long time. He has not the common sense, nor is he educated, even if he could have some accent having being able to live in UK. looking at the manner the very same bugger only focused on the losses, occured in 2015 alone, but totally neglecting the facts prior to that on and on, the bugger et al, thrown the stones only at Mr Wickramsinghe, but today, what is revealing is, ntohing but the size of the LOSSEs of BOND SCAM under ballige putha govt was 100 times more than what Mr Wikramasinghe fated, under the lead of Sirisena. It was like tsunami wave that could not be blocked by any means, because the manner that was then handled by the goons under MaRa:

    If MaRa invovled himself in , what could go better for the public, except the credit he could grab from the leadership issues in terms of giving the lead to the last part of the war. But that was still the last part and entire cake to be grabed by their family is beyond all ethics and morals. Ne vertheless these buggers did it, and painted the picture in favour of their self glorifications.

    • 13
      3

      I know Faraz is an Ass! I also know the MR regime too milked the government thru public debt with Nevard and AA acting in concert. But that does not mean you have to white wash the UNP Bond Scam, see my comment above!

    • 5
      0

      Sam,
      I also tried believe that Ranil is totally innocent but now I have changed my mind. As I have speculated just above, Ranil knew perfectly well the games being played by MaRa/Casbraal in order to finance MaRa’s election machine. All Ranil did was exact same to pay down borrowed money to cover the 2015 election. For this reason, I don’t think that he feels guilty and conversely he may even be thinking that the party is ungrateful for not giving credit for shouldering financial troubles of the party.

      I believe that Ranil is making a huge mistake by adopting a “good deception” strategy on two major political fronts he is closely associated with: Keeping the party alive and restore national economy. The main reason for this good-deception strategy may come from his (wrong) belief that the vast majority below him are not mature enough follow his policies. That explains why share important information with only a handful of chosen individuals.

      On the national front, as I said before, he believe very strongly, the need for all major parties working together until at least the debt crisis is resolved. This explains his reluctance to go after corruption by politicians. This also explains why he is not so worried for losing elections b’cos, to his logic, if voters prefer to change pillows, it is OK to lose and preserve parliamentary democracy as long as he still can contribute to progressive agenda. This an excellent philosophy but the error is not sharing his views with the public or at least with other party members and covering up corruption.

      Covering up high-level corruption is very bad policy, no matter what the intentions are. Parliamentary democracy cannot be sustained in a country with a large portion of population in poverty and with a corrupt political leadership. Ranil may have harmed his own worthy goals by ignoring corruption. His class consciousness may have also have contributed to the error. Therefore, I believe that Ranil’s political career is over.

      • 4
        1

        whoever whatever being said and done, only RW and CBK are world recoganized and they are the only leaders that win the hearts and minds of IC and get out of from the unbearable debt trap the country is fallen in today.

        It is not a joke, but 6 billion US dollars 150 x 6 billions = 900 billions in rps = 900 000 millions in rps –

        900 000 0 lacks of rps.

        if a house for a destitute could be built by 10 lacks, 900 000 (9 lacks) could be given a home easily.


        So what would be the fate of those destitute – they will fall from frying pan to the fire in the near future.

        Now the world say, srilankens would not be offered easy loans … without a gurantee in addition to the interest that country has to bear….. all because, they cant rely on RAJAKASHE family politics.

        Today I had a forum in Berlin – there i happeend to talk to many nationalities in Europe.. many in Europe would not respect Rajaakshe politics. They have no positive prognosis about the future of ISLAND nation.

        According to them, SRILANKENS were beaten by a 3 decades long civil war. ‘-
        Now again, the very same people are being faced by a war between extremists and non-extremists.

    • 0
      0

      Those People employ professional Hitmen , one day will be hit by the same Journalists. Maharajas will soon understand this. See where the hitman who dealt with MIG is now.

  • 9
    4

    Wonder how much was his share from the loot.

    • 11
      0

      Guruge,
      .
      This guy Wijewardhana makes round about. I really dont know why he cant know how bond scams issues were processed in the high days of Mahinda Rajaakshe. Wijewardhana was then a deputy governor to CB.
      .
      I only know at the time, MAHENDRAN took his duties, he revealed that CB had no independently functioning LEGAL unit under Mahinda Jarapakshe. So, anything and everyhting could happen if the bastard family okeyed anything. So was the history of CB prior to 2015.
      :
      But lanken press, baisedly added that MS-RW should be accoutable for the bond scam….. this should be premediated/plan…. not just for BOND scam, but also the manner, HOW rajakashe made it being close to LOCAL press should also be analysed by forensic experts. These men and their activities have no crediblity at all.
      :
      I dont think we should trust more anyone that worked with former CB staff.
      This man Dr WIJEWARDHANa should be well aware of so many things that occured within the bank. One another was that Susiripala Thennakon,… he was number guest of SIRASA TV then… to bash FORMER govt, but the very same men stay mum today…. when Rajakashes are back ….

  • 14
    2

    The people of Srilanka, particularly Buddhist Sinhala community do not have the power to understand what is really happened in this bond scam. Mahinda Family and its group are very powerful and strong in lying and cheating propagandas. That is why they came to power again even after they robbed this country and murdered so many. They knew well that they can cheat Buddhist Sinhala through the propaganda against Tamils and Muslims and western countries. Don’t you think how the two Americans carrying out anti American propaganda and Buddhist Sinhala believing it?

    • 4
      0

      Not just buddhist majority even notherners and muslims are all like that. They dont care about anything. I think that has lot to do with srilanken nature.

      I wonder why educated muslims such as SABRI go after Rajaakshes. Why ? We perfectly know Rajakashes men like MADHUMADHAWA and UDHAYA GONDTHADIPILA were masterminds of recent riots set on VERY INNOCIENT muslims. I know some of them personally even if I live in Europe. I was hurt by the way, that Madhumadawa or the like behaved against own SINHALA decent people.

      Not RACE and RELIGION but the manner how people have been brought up make them civilized or uncivilized. Many in our god punished island, overestimate them, comparing the sinhalese with Israelis. ? I really dont know why ? Also repeating about so called 2500 years of heritage. If all is true, why not then try to be decent and free from corruption ? If heritage and all other indicators are right, people have to prove by their acts, that they are more civlized than appeared to be.

      My problem is ones who live on the costs of others, being wrapped around by SAFFRON robes, behave today, no diffrent to those all abusive monks in countries such as Myanmar and Thai.

    • 0
      1

      So Ranil , Ravi and Mahendran havent committed a fraud involving central bank bonds but mara and his clan did such a thing…..that is what you ( unp and ltte supporters ) say………..while this looks amusing it must be stated it is based on the same unp+ltte logic which made LTTE an innocent victim while war winning army is a criminal

  • 0
    8

    The bond scam theft had occurred for more than a decade, it seems a complete discussion is impossible. Anyway, Sri Lankan Tea taster is trying it. It looks UNP parliamentary committee was just like another committee that Ran appointed. Committee’s only objective was to say “Not only Ranil and Mahendran gang, but also Mahinda Rajapakse and Cabraal gang also did the same. It looks they have accomplished it but more garbage came out. It they go further, Ranil has done this since 2002. Then Mahinda Rajapakse times, UNF was complaining and having protest parties to say Mahinda Rajapakse was emptying the EPF funds. It’s total value was drastically reduced, funds went missing. Some how during the MR times, they sold small amounts of money (a few billions at a time) to EPF funds at 29% interest over 30% is criminal, so legal but highly unethical if not disgusting). Cabraal looked coordinating well as his extended family was all over the financial industry, mostly in the monetary sector. Ranil is unique in selling it in the largest amount (20 billion for the first sale). At that time interests were relatively low, Yet he borrowed, again from the same EPF funds (included even the University EPF funds (it says, total value of the EPF should be 30,000 billion bu, there is not that money because of that what pensioners getting is very low. Ranil knew this in advance and he got his own man typically suitable for the purpose, A USED CAR SALES MAN, from Australia to head the EPF fund(S), as soon as the theft was exposed, the profit he got Rs 840, million or so disappeared and the EPF Chairman from Ranil went back to Australia or NZ. Anyway, what forensic report confirmed what every body read in news papers.

  • 0
    6

    Japan has a system in which companies are interconnected. It is not the same Capitalism. Sri Lanka was trying to implement the same European, British and American capitalism which is good for bigger and industrially established countries. Instead of these private primary company – and secondary dealers gang up with parliamentarians and some professional crooks good in the business can ask banks (not Peoples bank like ones which went bankrupt for for the umpteenth time, can built primary dealers affiliated with banks. There should not be fully private banks and every bank should be part owned by the govt. So, that tax revenue can be cut down.

  • 1
    7

    It is very clear, the parliamentary committee spent Rs 300 million or a few times that but did nothing important for the country. Instead, they published another politically sensitive report which says both Mahinda Chintana govt with the help of Cabraal did the same theft that Ranil and Mahendran planned very well precisely to the point and got caught within days. Ranil was so arrogant, he did again twice neglecting that he had been caught. The only difference is Mahinda Rajapakse, Cabraal gang with the help of same PTL did in a few billions at a time while Ranil did Rs 20 billion at a time.
    Parliamentary committee did not want to find what was the true loss to EPF and two or three govt banks went bankrupt and how can those losses could be recovered. One way may be acquiring their assets both local and overseas. Some of the manoeuvres they do with Air lines and ports may be for those.
    Thai is why Viyathin, talks, parliament is the place that must be reformed, revamped and restructured. They all have lows, plans and strategies to keep the hands on Banks, EPFs and Treasury.
    By the way, Is one minister from UNP who was used to get humongous loans, He keeps one loan as the collateral and take another. Supposedly, he is a double agent, has he run away temporarily.

  • 2
    11

    No wonder the Report has given All Clear to Dr Rani and his Bond Robbers.
    And tipped a few Bucket on Dr Cabi and his Family to please Dr Rani and his Bond Robbers..

    I am not sure how much our poor suckers who are on PAYE had to fork out yet again ?.
    On top of their EPF which PT Collected in Truck Loads

    I am talking about the Accounting Firm who did this F Audit to clear the CB Dudes, who were in the thick of the action in the Monetary Board Room while doing Yahapalana Bond Dealing exclusively with Aloysious Family PT ..

    I am also curious to find out how much Santhosams Dr Rani’s Cabinet Tender Board dudes collect ?.
    I don’t think they would have got Penthouses like that Cabinet Minister got from the Bond Dealers. But I am sure they would have good something.

    Anyway this reminds me of the saying in Sinhale ” Going to the Thief’s Mother for a Crystal Reading?.

    BTW the first person who came out with a smiley face was the ex Best Finance Minister of Dr Rani, Mr Ravi Karunanayaka, to tell the Media that he is sooooo thrilled that the CB ‘s F****** Report has has given him the ‘All Clear.
    And how much he is now ready and keen to give not just 2/3rd but even 4/4 to Prez Nandasena .

    May God Bless these patriotic lot..

  • 5
    0

    The very “Origin” of the “Forensic Audit” is now challenged on the two words “recommended” and “may” used by the Presidential Commission. That is hilarious and comprehensible. Leaving aside all those arguments for and against institution of a :Forensic Audit” by two reputed International Auditors, the fact of the matter the people must be told in simple English and Sinhala and Tamil is : The country and the people were PLAYED out to the tune of Rs. 10 Billion during the period 2002. to 2014 and another Rs. 600 Million during 2015. To find that , the People and the country have spent another Rs. 245 Million. (pl. excuse me for the amounts stated, as I say it in Billions and Millions) Aren’t these the FACTS that these “Professionals” have to explain? Aren’t these “Pilfered” money that belonged to the PEOPLE and the COUNTRY that is our concern? Now the simple fact is : How and from WHOM are we to recover that “ROBBED” money? The only way is to institute Legal Proceedings” without further delay. I believe a “Forensic Audit” is a “LEGALLY ADMISSIBLE” document that the contents of which have to be “AUTHENTICATED” and “PROVED” by the Institutions that carried out the audit when questioned in courts . So let these “Pandithayas” hold any number of “TV” and other “Media Talk Shows”. The next step is to IDENTIFY those to be “Questioned” and made “Answerable” and “Accountable” for the “ROBBERY” of the PEOPLES” money and bring all of them before courts. Not these “COURTS” of today, but a “SPECIAL COURT” with a clear mandate and a directive to conclude the findings and award punishments within a FIXED TIME FRAME. NOT certainly “Postponements”; “Allowing WRITS”; Prevention of FUTURE ARRESTS”; Seeking “BAIL” immediately on “ARRESTS”; Not allowing “FOREIGN TRAVEL” but to “GRANT PERMISSION” on any circumstances etc…..etc…..

  • 3
    1

    fools rush in where angels fear to tread

  • 5
    2

    Wije was given an award by Cubby at his latest book launch.

  • 6
    0

    They were all in there game, and played out public funds right royally

  • 9
    0

    What a sorry spectacle staged by two hirelings of the Sicko Killiya.

  • 11
    0

    According to the pohottuwa – Aney we don’t know Aney we have not seen the report yet. But previously they were definitely convinced that Ranil robbed the money. The rogue media went town and convinced the dumb sinhalese that Ranil was the robber. The previous government even recovered most of the money by freezing PTL assets and shutting it down but no matter what it was always Ranil the robber. Now as it turns out there was a cabal led by one Nivard who robbed left right and center from the year 2002 – 2015. Included in this cabal were all the senior officials of the CB including Aloysius. Maybe this clown Wijewardene was one of them since he is singing so loudly trying to poke holes in the forensic report. The estimated losses to EPF, ETF for those years is Rs 10,457million. The estimated losses form 2015 until Aloysius was arrested and jailed is Rs 690million. Aloysius was part of the robber gang. He merely continued after 2015. A forensic audit is the ultimate audit. There is no stone left un-turned. So poking holes in this report is a foolish stupid thing to do. Cabral even invested EPF, ETF money in non publicly quoted companies i.e. privately owned institutions based on god knows what criteria. He was also the mastermind behind the buying worthless Greek junk bonds which were a total write off of this countries money. He also was the master mind behind the hedging deal. The biggest political crook Mahinda employs this man as his advisor. This is truly and upside down wonderland for criminals.

  • 10
    2

    Faraz and Wijewardena were hailed by Cabraal at his book launch

  • 3
    0

    Top elite families are all in their position because most are traitors or bank robbers or crooks from the time they were born. Nivad family did deals with chandrika for sale of Sri Lanka telecom to NTT, assets were highly understated .Nivads wife was the person handling for KPMG, with kadiragamas niece. Deals are normal, chandrika got a house in Uk.
    Only one company was allowed to tender for the shares on telecom, with land valued in billions not appearing in telecom share sale price.

  • 1
    1

    Another big disgusting corrupt practice by the whole parliament, entirely by the governing party and the opposition. both did not follow through exposed frauds. The best example is PENTHOUSE RAVI getting money INSIDE A BAG and not via bank transfers. I think they legalized those. Did not prosecute such financial frauds entirely by the then FINANCE MINISTER

  • 0
    0

    In this business it is important not to treat anyone as virtuous. A lot of lapses are there, some followed with bad intentions and ulterior motives and others not so. Not only the Central Bank but in many state institutions, there are instances where they are a law unto themselves. It is only in a very few places where a policy of treating the public as the king, similar to businesses treating customer as king is implemented and the rules are explained in simple language and applied uniformly. A forensic audit is itself is not sacrosanct and there can be shortcomings, some can be grave, because such auditors have to report on the information available and the methodologies adopted is circumstantial and can be questionable. There is no instance of bias or partiality alleged by anyone against the forensic auditors. In my view it is good that the audit was done and it is good that the views of Dr. Wijewardena and others have scrutinized the report are published and we the general public now get a fair picture of the situation. On reading the headlines of this article one gets the impression that Dr. Wijewardena is rubbishing the report but on viewing the video it is clear that is not so.

  • 0
    1

    Now Mr. Wijeywardene, yahapalana supporter and CTs man to go to when economic analysis advers to rajapaksa is needed has said what these forensic reports truly are, targetted. What is his crime ? Saying truth abt so called forensic reports …….engineered to clear Ranil and his thief clan while making mahinda a criminal ……….this is actually not new. Similar to other criminal cases ‘investigated’ by Yahapalana

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