Attorney General Dappula de Livera has requested Chief Justice Jayantha Jayasuriya to appoint a Trial-at-Bar to try former Minister Ravi Karunanayake, former Central Bank Governor Arjuna Mahendran and nine others in connection with the second Central Bank bond issue that took place on March 29, 2016.
Coordinating Officer to the Attorney General State Counsel Nishara Jayaratne stated that Attorney General Livera made this request taking into consideration the seriousness of the offences which caused a huge impact on the national economy.
The Attorney General alleged that Perpetual Treasuries Limited (PTL) has used the Central Bank’s important undisclosed information to artificially alter the final outcome of the Treasury Bond auction. The Attorney General has further alleged that this fraud has caused injustice to other primary sellers in the bond market and PTL has acted cunningly, made a huge profit and conspired to cause a huge loss to the Government.
The charges are to be filed Under Section 56 of the Registered Securities and Exchange Ordinance for conspiracy, criminal misappropriation, cheating and market manipulation in respect of the Bond auctions on March 2016.
The indictments to be filed against eleven accused. They are; former Finance Minister Ravi Karunanayke, CBSL former Governor Arjuna Mahendran, Perpetual Treasuries Limited (PTL) beneficiary owner Arjun Aloysius, PTL Chief dealer Kasun Palisena, Chairman of PTL Jeffrey Joseph Aloysius, Chitta Ranjan Hulugalle, Muthuraja Surendran, Ajahn Gardiye Punchihewa, , Sangarapillai Pathumanapan, Badugoda Hewa Indika Saman Kumara.
Meanwhile, the Criminal Investigations Department yesterday informed the Colombo Fort Magistrate Priyantha Liyanage that they have concluded the investigations pertaining to a case filed against former Minister Ravi Karunanayake, former CBSL governor Arjuna Mahendran, Perpetual Treasuries Limited owner Arjun Aloysius and 8 others over the Bond Scam involving Treasury Bond.
The Attorney General alleged that the accused could be charged for conspiracy to commit criminal misappropriation in respect of treasury bonds to the face value of Rs.36.98 billion and 15 billion respectively in March, 2016.
Bond scam magisterial inquiry on March 18
Shavini Madhara
The magisterial inquiry into the Central Bank Bond scam was yesterday fixed for March 18 by Colombo Additional Magistrate Bandara Nelumdeniya.
The suspects have been named as Perpetual Treasuries Limited (PTL) beneficiary owner Arjun Aloysius, CEO Kasun Palisena, former Central Bank Deputy Governor P. Samarasiri, Perpetual Treasuries Chairman Geoffrey Aloysius and three Perpetual Treasuries directors Pushpamitra Gunawardena, Chitta Ranjan Hulugalle and Muthuraja Surendran.
They were also accused of allegedly aiding and abetting and conspiring with Arjuna Mahendran to misappropriate public funds worth of Rs. 688 million during the Bond auction held on February 27, 2015.
