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Sri Lanka's EPF manager interdicted, questioned by police

Jul 12, 2017 07:24 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Saman Kumara, a senior fund manager at Sri Lanka's Employees Provident Fund (managed by the Central Bank), had been interdicted, a state counsel told a commission on inquiry into an alleged securities fraud.

Saman Kumara was named as the person who bought bonds from Perpetual Treasuries, which were routed through PABC Bank, in evidence given against the commission.

On Tuesday, Kumara came to give statements to police criminal investigation officers who are assisting a Presidential commission of inquiry into so-called bond scams that were perpetrated in 2015 and 2016.

Head of Treasury of Sri Lanka's PABC Bank told the commission that the bank helped Perpetual Treasuries sell its bonds originally held by Perpetual Treasuries to the EPF with Kumara making the purchases.

 


 

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