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Arjuna Mahendran..Victim Or Victor ?
- Thread starter netlife007
- Start date
Either Way the Central bank scam has generated over 500 million in commissions !! to his family or his colleagues..
Read the stunning finding of the laska investigative team on srilankan news that has rocked the
Yahapalanaya Regime ....
1. The Players - Arjun Mahendran (central Bank Governor), Arjun Aloysius (son-in-law & director of Perpetual Treasuries), Mrs. Shiromi N Wickramasinghe (sister of former governor Nivad Cabraal & director of Perpetual Treasuries), Bank Of Ceylon
2. The Game - Central Bank issues Bond for 1 billion at 9% interest which was subsequently increased to 10 Billion at 12.5% interest rate of which 5 billion were giver to Mr. Mahendran’s Son-in-laws company!
He then re-sells the bonds to affiliated companies like insurance co-operations/ multinaionals etc at a lower interest rate, in this case around 9.5% (slightly above the original rate)thereby making a quick big buck of around 3% of the interest payable upfront by the institutions for his services!
3.The Excuses -
Arjunas Excuse : he says he Was informed that there were bids for over 20 billion so he informed the bank to increase the value from 1 billion to 10 billion ! the catch is ..
a) why did he increase the interest rate as well when the issue was oversubscribed ?
b) why were all primary dealers not informed of this
Arjun Aloysius Excuse : conveniently resigns from the Perpetual Treasuries board with a back dated resignation letter and sells the company to his friend Ishara Nanayakkara for 650 million rupees 4 days after the deal!!
Read the stunning finding of the laska investigative team on srilankan news that has rocked the
Yahapalanaya Regime ....
1. The Players - Arjun Mahendran (central Bank Governor), Arjun Aloysius (son-in-law & director of Perpetual Treasuries), Mrs. Shiromi N Wickramasinghe (sister of former governor Nivad Cabraal & director of Perpetual Treasuries), Bank Of Ceylon
2. The Game - Central Bank issues Bond for 1 billion at 9% interest which was subsequently increased to 10 Billion at 12.5% interest rate of which 5 billion were giver to Mr. Mahendran’s Son-in-laws company!
He then re-sells the bonds to affiliated companies like insurance co-operations/ multinaionals etc at a lower interest rate, in this case around 9.5% (slightly above the original rate)thereby making a quick big buck of around 3% of the interest payable upfront by the institutions for his services!
3.The Excuses -
Arjunas Excuse : he says he Was informed that there were bids for over 20 billion so he informed the bank to increase the value from 1 billion to 10 billion ! the catch is ..
a) why did he increase the interest rate as well when the issue was oversubscribed ?
b) why were all primary dealers not informed of this
Arjun Aloysius Excuse : conveniently resigns from the Perpetual Treasuries board with a back dated resignation letter and sells the company to his friend Ishara Nanayakkara for 650 million rupees 4 days after the deal!!
4.The Plot -
a)This is where the web of corruption expands as the company has no funds nor the financial might to bid for a Bond of this nature and yet it received a loan of 3 billion from the bank of ceylon!! how did this happen is the divine perpetual million dollar question ?
b) of 36 bidders, how did one company receive 50% of the Bonds ??
5.The profit - in excess of 5 million dollars !
6.The Crime - this is a clear case if insider trading
Arjun Aloysius is implicated in many deals involving the EPF, especially the purchase of grain elevators and LOLC resulting in losses in the billions,it was once rumoured that his company plundered EPF to the tune of Rs3B with the connivance of Namal Rajapaksa who in turn received a kick back of Rs500M!
Arjuna grandfather is the infamous “Karawala Mudalali” Kattar Aloysius who defaulted over Rs.500 million to the Bank of Ceylon in the 1990s
a)This is where the web of corruption expands as the company has no funds nor the financial might to bid for a Bond of this nature and yet it received a loan of 3 billion from the bank of ceylon!! how did this happen is the divine perpetual million dollar question ?
b) of 36 bidders, how did one company receive 50% of the Bonds ??
5.The profit - in excess of 5 million dollars !
6.The Crime - this is a clear case if insider trading
Arjun Aloysius is implicated in many deals involving the EPF, especially the purchase of grain elevators and LOLC resulting in losses in the billions,it was once rumoured that his company plundered EPF to the tune of Rs3B with the connivance of Namal Rajapaksa who in turn received a kick back of Rs500M!
Arjuna grandfather is the infamous “Karawala Mudalali” Kattar Aloysius who defaulted over Rs.500 million to the Bank of Ceylon in the 1990s
it is also well known that Arjuna Mahendran is a very good friend of Nivaad Cabral and got his help to organize the Primary Dealer license for his son in laws (Perpetual) company. The very fact that he was appointed as central bank governor while his son-in-laws company is a primary dealer made him no better than the dubious and corrupt former governor.
Its hard to disqualify Finance Minister Ravi Karunanayake as beneficiary of this transaction as it is he who appointed Brian J Sinniah the Chief Financial Officer of Ravi Karunanayake owned Global Group to Bank of Ceylon from 9th February 2015 along with Ranel Wijesinghe, Pushpa Wellappili and Ronald C. Perera (as BOC New Chairman).
These appointments paved the way for Bank of Ceylon to give over Rs.3 billion credit to Arjun Aloysius’ Perpetual Treasuries without any security to apply and bid for bonds worth nearly Rs.3 billion via Bank of Ceylon.
Its hard to disqualify Finance Minister Ravi Karunanayake as beneficiary of this transaction as it is he who appointed Brian J Sinniah the Chief Financial Officer of Ravi Karunanayake owned Global Group to Bank of Ceylon from 9th February 2015 along with Ranel Wijesinghe, Pushpa Wellappili and Ronald C. Perera (as BOC New Chairman).
These appointments paved the way for Bank of Ceylon to give over Rs.3 billion credit to Arjun Aloysius’ Perpetual Treasuries without any security to apply and bid for bonds worth nearly Rs.3 billion via Bank of Ceylon.
Kattar’s grandson Arjun Aloysius married then (1970-80’s) UNP backer Charlie Mahendran’s son Arjuna Mahendran’ Daughter Anjali Mahendran in 2012
Irrelevant of the finding of the 3 member committee headed by mr. Gamini Pitipana whose knowledge of Bonds may be limited to the movie James Bond….
.
Irrelevant of the finding of the 3 member committee headed by mr. Gamini Pitipana whose knowledge of Bonds may be limited to the movie James Bond….
.
මුන් දවස් 60 විතර මෙහෙම නම්, අවුරුදු දෙකක් විතර තනි unp ආණ්ඩුවක් යනකොට කොහොමට තියේවිද ?
කරන වැඩකුත් නැහැ. බෙරේ පලුවකුත් නැහැ.
කරන වැඩකුත් නැහැ. බෙරේ පලුවකුත් නැහැ.
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