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ElaKiri Talk!
Bond Scam and Good Governance
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<blockquote data-quote="netlife007" data-source="post: 22171647" data-attributes="member: 79514"><p><span style="font-size: 15px">Instead, the country continued to be drained by these scams. Furthermore, more politicians got caught in the current of corruption as they sought to save their political bosses. Today noted as the 'footnote group', this group comprises young UNP politicians like Sujeeva Senasinghe, Harsha de Silva, Harshana Rajakaruna and Ajith Perera. They participated in the second COPE investigations headed by Sunil Handunnetti. Since then, they too have been alleged to be beneficiaries to the scams.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">As Handunnetti notes, this was not an ordinary report. This focussed on the Central Bank that must maintain credibility as the authority vested with the authority to exercise functions on fiscal control in the entire country.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">In an interview given to this newspaper, Handunnetti said, "We studied the evidence, documents, data and notes for 18 months before we submitted the report. I cannot compile a report without including the facts discovered in the process of our probe. I cannot include my personal opinions in it. But the other group wanted the facts discovered in the process of our probe to be omitted from the report and instead to include conclusions drawn only from chosen evidence. "We have exposed a massive fraud in the COPE report," he explained. "On 27 February 2015, the primary dealers were not aware that a Rs 10 billion Bond Issue was on the cards. They did not know that the existing procedure had been completely changed. However, one of the primary dealers knew that there would be an auction. He, Arjun Aloysius, knew that one billion rupees would be called and Rs 20 billion would be taken. Therefore, only he bid for 75% and as a result the interest increased."</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px">The Aloysius family name has a dark history. Arjun's grandfather closely associated the Premadasa Government and allegedly used the connection to cheat Rs 500 million from Bank of Ceylon. Wickremesinghe, though a prominent member of the Premadasa Government, had remained firm friends with the Aloysius family. This is obvious as young Arjun refers to him as 'uncle'. Further thickening the plot, Arjun is married to Mahendran's daughter.</span></p><p><span style="font-size: 15px"></span></p><p><span style="font-size: 15px"><strong>Mahendran too does not have a clear history. He and Raj Rajaratnam were family friends. In 2006, Mahendran with Ravi Karunanayake visited Rajaratnam at his New York office. There he obtained USD three million, which was allegedly deposited in a Sri Lankan account flouting the regulations of the Central Bank and Exchange Control Act. Soon after Mahendran left Sri Lanka and became a Singaporean citizen. Karunanayake however got embroiled in the money laundering case, which was dismissed when he became this government's Finance Minister.</strong></span></p></blockquote><p></p>
[QUOTE="netlife007, post: 22171647, member: 79514"] [SIZE=4]Instead, the country continued to be drained by these scams. Furthermore, more politicians got caught in the current of corruption as they sought to save their political bosses. Today noted as the 'footnote group', this group comprises young UNP politicians like Sujeeva Senasinghe, Harsha de Silva, Harshana Rajakaruna and Ajith Perera. They participated in the second COPE investigations headed by Sunil Handunnetti. Since then, they too have been alleged to be beneficiaries to the scams. As Handunnetti notes, this was not an ordinary report. This focussed on the Central Bank that must maintain credibility as the authority vested with the authority to exercise functions on fiscal control in the entire country. In an interview given to this newspaper, Handunnetti said, "We studied the evidence, documents, data and notes for 18 months before we submitted the report. I cannot compile a report without including the facts discovered in the process of our probe. I cannot include my personal opinions in it. But the other group wanted the facts discovered in the process of our probe to be omitted from the report and instead to include conclusions drawn only from chosen evidence. "We have exposed a massive fraud in the COPE report," he explained. "On 27 February 2015, the primary dealers were not aware that a Rs 10 billion Bond Issue was on the cards. They did not know that the existing procedure had been completely changed. However, one of the primary dealers knew that there would be an auction. He, Arjun Aloysius, knew that one billion rupees would be called and Rs 20 billion would be taken. Therefore, only he bid for 75% and as a result the interest increased." The Aloysius family name has a dark history. Arjun's grandfather closely associated the Premadasa Government and allegedly used the connection to cheat Rs 500 million from Bank of Ceylon. Wickremesinghe, though a prominent member of the Premadasa Government, had remained firm friends with the Aloysius family. This is obvious as young Arjun refers to him as 'uncle'. Further thickening the plot, Arjun is married to Mahendran's daughter. [B]Mahendran too does not have a clear history. He and Raj Rajaratnam were family friends. In 2006, Mahendran with Ravi Karunanayake visited Rajaratnam at his New York office. There he obtained USD three million, which was allegedly deposited in a Sri Lankan account flouting the regulations of the Central Bank and Exchange Control Act. Soon after Mahendran left Sri Lanka and became a Singaporean citizen. Karunanayake however got embroiled in the money laundering case, which was dismissed when he became this government's Finance Minister.[/B][/SIZE] [/QUOTE]
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