Tapes of EPF official’s conversations submitted

Bond transactions with Perpetual Treasuries:



By Shyam Nuwan Ganewatta and Sarath Dharmasena


Tapes containing telephone conversations of the Central Bank Employees’ Provident Fund (EPF) official, Saman Kumara, who handled the Treasury bond deals of Perpetual Treasuries with Pan Asia Bank, were, yesterday, handed over to the Presidential Commission of Inquiry probing the bond scams.


Deputy General Manager (Treasury) of the Pan Asia Bank Aruna Dias submitted the tapes in compliance with a request by the Attorney General's Department.


The members of the Commission after listening to the recorded conversations between primary dealer of Pan Asia Bank and Saman Kumara questioned the witness.


The tapes containing conversations between Perpetual Treasuries and Pan Asia Bank were also handed over to the Commission,


Dias, questioned by Commission members, revealed that the discussions had been held with the EPF Department of the Central Bank on the instructions of the Perpetual Treasuries and Saman Kumara had always represented the Central Bank.


After listening to the tapes, Dias, in answer to a question by Commission Member Justice Prasanna Jayawardena, told the Commission that Pan Asia Bank’s dealings with bond dealer Saman Kumara had been predetermined.


The evidence of Pan Asia Deputy General Manager was led by Deputy Solicitor General Milinda Gunatillake.


Dias told the Commission while the tapes were being played that a single party had looked after the interests of both the buyer and the seller. Both the amounts and the rates had been determined by Perpetual Treasuries, he said. That was the conclusion one drew after listening to the tapes, he added.


The witness said according to the recorded telephone conversations, Saman Kumara had accepted the amounts and rates offered by Perpetual Treasuries.


Dias said he had got bond dealer of his bank to obtain the details of bond sales of Perpetual Treasuries, amounts and rates after talking to the EPF Department of Central Bank.


For the first time the counsel for Perpetual Treasuries Director and former Governor Arjuna Mahendran’s son-in-law Arjun Aloysius appeared before the Commission; one of them was Kalinga Indsatissa.


Indatissa told the Commission that he would challenge the evidence of Dias and he had been permitted to appear before the Commission.


 
 
 
 
 
 
 
 
 
 
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