COPE to meet on forensic audits on bond scams linked to Sri Lanka’s central bank

ECONOMYNEXT – A committee overseeing state enterprises in Sri Lanka’s parliament has called a meeting to discuss foreign audits on scams involving the central bank.

The meeting is being called to discuss future actions on several forensic probe reports that have now been completed, the parliament’s media office said.

However the full publication of the reports had been blocked by the attorney general.

Perpetual Treasuries, a gilt dealership controlled by then central bank governor Arjuna Mahendran was alleged to have bought bonds at high prices from rigged auctions conducted by the central bank.

The bonds were then dumped on the Employees Provident Fund at higher prices, it is alleged.

A Presidential commission recommended the forensic probes on the scams. Other probes were also conducted on share transaction of the EPF. (Colombo/Dec02/2019)