JVP dismisses bond scam probe as a farce


Former JVP parliamentarian and trade union leader Wasantha Samarasinghe yesterday said that his party was not satisfied with the recommendations of the committee appointed to probe the treasury bond scandal.

None of the committee members had any experience in financial affairs, Samarasinghe said. "They have exonerated the culprit and pinned the blame on the Bank of Ceylon which has not done anything wrong."

The conclusion of the committee that Central Bank Governor Arjun Mahendran, a Singapore national, was not a party to the fraud as he was not a member of the tender board was hilarious, the JVPer added.

The Central Bank of which Mahendran was the Governor had advertised in the newspapers calling for bids for bonds to the tune of Rs. 1,000 million and a company owned by the Governor’s daughter and son-in-law had subscribed to bonds amounting to Rs. 5,000 million of a total of Rs. 10,000 million, he said.

That company had never made such bids previously, he added.

Samarasinghe said the government should appoint a committee comprising experienced and knowledgeable financial experts to probe the scandal and punish the culprits.

Samarasinghe said that Mahendran, who was a foreigner, had placed his signature on currency notes as the Governor of the Central Bank and it was the first time that a non-national had signed Sri Lankan currency notes since 1953.


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