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ElaKiri Talk!
Bond Scam and Good Governance
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<blockquote data-quote="netlife007" data-source="post: 22171646" data-attributes="member: 79514"><p><span style="font-size: 15px">Last week Ravi Karunanayake resigned from his post of Foreign Minister. However, it was not because of his alleged link to the infamous Central Bank (CB) bonds scam, but pressurized by the controversy generated by an apartment his family had purchased. Astute onlookers feel the pressure for his resignation came too soon as it might shift the focus from the scams' masterminds. Meanwhile, two meddlesome individuals continue to watch from the shadows. That is, Maithripala Sirisena and Atul Keshap.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">In fact, in the first Committee On Public Enterprises (COPE) investigations headed by DEW Gunasekera, Mahendran directly pointed the finger at Wickremesinghe.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">His claim he never went into the room that the auctions were taking place on that questionable day was contradicted by the cctv footages. Thoroughly rattled, he confessed that he succumbed to Wickremesinghe's severe pressure to accept the CB Governor post.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">However, certain entities in the United National Party managed to prevent the COPE report from been presented to the Parliament on 26 June 2015.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Maithripala Sirisena at this juncture dissolved the Parliament. It is being whispered in the power corridors that Sirisena was activated by the US Ambassador Atul Keshap. On 14 July 2015, addressing the Nation, Sirisena confessed to dissolving the Parliament to save Wickremesinghe. He claimed to have pointed to Wickremesinghe that the bonds scam had become a problem to the country.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">State Minister of Enterprise Development, Lakshman Yapa Abeywardena on 8 August 2017 stated, the country will suffer a staggering loss in excess of Rs 1 trillion over the course of the next 30 years as a direct result of this scam.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">This was revealed by a confidential CB report on the financial transactions of Perpetual Treasuries (Pvt.) Limited. This report was intended for the CB's director board, but someone surreptitiously leaked it to the public domain.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">According to the facts stated in this report, Perpetual Treasuries (PT) was registered with the CB on 30 September 2013 as a primary dealing company. It is the 'youngest' of 16 dealers and started its dealings on 5 February 2014. According to this report, when the other 15 dealers' asset growth from 31 October 2014 to September 2015 was roughly 1.9 pc, the asset growth of PT had increased by 160 pc. During 2015, the company's assets have grown by an astounding 375 pc and by December 2015, the capital had grown to Rs 11,075 million. During the period March 2014 to May 2016, all other primary dealers' market growth was roughly 31 pc, but PT's growth was 1853 pc. By May 2016, the net profit of this company was Rs 6,215 million and had earned a total profit of 83 pc.</span></p><p><span style="font-size: 15px">Despite the persistent rumours, Keshap and the American Embassy had maintained a studied silence. This is notan idle rumour, but an allegation that places a direct black mark on Keshap and his office. This puts the credibility of the US Government at odds as it implies that US had not only interfered with the democratic processes of another sovereign country, but also had aided and abetted the biggest heist in that country's banking history. The US government should have immediately recalled Keshap and initiated a thorough investigation and practised what they preach to us on transparency and accountability.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">Sirisena and Keshap might not have had a hand in the February 2015 Bonds scam. However, they cannot excuse themselves from the scams that have taken place since. Had they not interfered, and allowed the COPE report to be presented to the Parliament, the culprits would have been identified. That would have ended their political career, but also have paved the way for a new, cleaner political culture in Sri Lanka.</span></p><p><span style="font-size: 15px"></span></p></blockquote><p></p>
[QUOTE="netlife007, post: 22171646, member: 79514"] [SIZE=4]Last week Ravi Karunanayake resigned from his post of Foreign Minister. However, it was not because of his alleged link to the infamous Central Bank (CB) bonds scam, but pressurized by the controversy generated by an apartment his family had purchased. Astute onlookers feel the pressure for his resignation came too soon as it might shift the focus from the scams' masterminds. Meanwhile, two meddlesome individuals continue to watch from the shadows. That is, Maithripala Sirisena and Atul Keshap. In fact, in the first Committee On Public Enterprises (COPE) investigations headed by DEW Gunasekera, Mahendran directly pointed the finger at Wickremesinghe. His claim he never went into the room that the auctions were taking place on that questionable day was contradicted by the cctv footages. Thoroughly rattled, he confessed that he succumbed to Wickremesinghe's severe pressure to accept the CB Governor post. However, certain entities in the United National Party managed to prevent the COPE report from been presented to the Parliament on 26 June 2015. Maithripala Sirisena at this juncture dissolved the Parliament. It is being whispered in the power corridors that Sirisena was activated by the US Ambassador Atul Keshap. On 14 July 2015, addressing the Nation, Sirisena confessed to dissolving the Parliament to save Wickremesinghe. He claimed to have pointed to Wickremesinghe that the bonds scam had become a problem to the country. State Minister of Enterprise Development, Lakshman Yapa Abeywardena on 8 August 2017 stated, the country will suffer a staggering loss in excess of Rs 1 trillion over the course of the next 30 years as a direct result of this scam. This was revealed by a confidential CB report on the financial transactions of Perpetual Treasuries (Pvt.) Limited. This report was intended for the CB's director board, but someone surreptitiously leaked it to the public domain. According to the facts stated in this report, Perpetual Treasuries (PT) was registered with the CB on 30 September 2013 as a primary dealing company. It is the 'youngest' of 16 dealers and started its dealings on 5 February 2014. According to this report, when the other 15 dealers' asset growth from 31 October 2014 to September 2015 was roughly 1.9 pc, the asset growth of PT had increased by 160 pc. During 2015, the company's assets have grown by an astounding 375 pc and by December 2015, the capital had grown to Rs 11,075 million. During the period March 2014 to May 2016, all other primary dealers' market growth was roughly 31 pc, but PT's growth was 1853 pc. By May 2016, the net profit of this company was Rs 6,215 million and had earned a total profit of 83 pc. Despite the persistent rumours, Keshap and the American Embassy had maintained a studied silence. This is notan idle rumour, but an allegation that places a direct black mark on Keshap and his office. This puts the credibility of the US Government at odds as it implies that US had not only interfered with the democratic processes of another sovereign country, but also had aided and abetted the biggest heist in that country's banking history. The US government should have immediately recalled Keshap and initiated a thorough investigation and practised what they preach to us on transparency and accountability. Sirisena and Keshap might not have had a hand in the February 2015 Bonds scam. However, they cannot excuse themselves from the scams that have taken place since. Had they not interfered, and allowed the COPE report to be presented to the Parliament, the culprits would have been identified. That would have ended their political career, but also have paved the way for a new, cleaner political culture in Sri Lanka. [/SIZE] [/QUOTE]
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