Presidential probe:
CB documents revealing Perpetual Treasuries’ bond profits submitted

by Sarath Dharmasena


Additional Director of the Information Technology Department of the Central Bank Vasantha Alwis, testifying before the Presidential Commission to probe the alleged bond scam yesterday submitted the copies of documents containing details of Central Bank treasury bond issues in 2015 pertaining to Perpetual Treasuries, National Savings Bank and the Employees Provident Fund (EPF) .

Alwis commenced testifying before the Commission on Thursday.

The evidence was led by Deputy Solicitor General Milinda Wijayatillake.

The Counsel appearing for Perpetual Treasuries objected to Alwis submitting documents pertaining to his client being submitted to the Commission claiming that they should have been first submitted to him for perusal.

Deputy Solicitor General responded that details of 2015 bond issues of the Central Bank could not be issued to him (Fernando) and he would be allowed to peruse only the documents related to the transactions of Perpetual Treasuries.

Justice K.T. Chithrasiri, Chairman of the Commission :

What are the documents you need. And you will be allowed to peruse them. The Commission will allow you to cross examine not only this witness (Alwis) but also others testifying before it. Hence don’t disturb this witness and allow him to sumit the documents.

Cross-examined by Deputy Solicitor General Milinda Wijayatillake, Alwis explained to the Commission how Perpetual Treasuries had made huge profits by buying and selling treasury bonds.

Alwis said the interest rates as regards Perpetual Treasuries’ dealings with the EPF were not included in the documents submitted to the Commission.

At this juncture Counsel for Perpetual Treasuries Nihal Fernando said what was revealed to the Commission by Vasantha Alwis was not true.

Justice Jayawardena to Alwis:

Would you guarantee the veracity of details contained in the documents submitted to the Commission

Alwis: Yes Your Lordship, one hundred percent!

Justice Jayawardena:

Are the interest rates as regards Perpetual Treasuries transactions with institutions other than the EPF mentioned in the documents you submitted?

Alwis: Yes Your Lordship. Our documents contain only details provided by parties involved in transactions and we document them correctly.

Chairman Justice Chithrasiri asked Alwis to submit to the Commission by way of an affidavit the details of other transactions of Perpetual Treasuries in 2015 with regard to treasury bond auctions.

During the next two weeks the Presidential Commission to probe the alleged bond scam will not sit as one of its members Justice Prasanna Sujeewa Jayawardena will go overseas on a private matter, Commission Chairman Justice K.T.Chithrasiri said.

The Commission will resume its sittings on June 05.

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