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Monday May 10th, 2021
Legal

Sri Lanka could enact new laws to claw back bondscam losses: Eran

ECONOMYNEXT – Sri Lanka could enact new laws to recover losses to the government from irregular bond auctions, Deputy State Enterprise Minister Eran Wickramaratne said, while calling on law enforcement agencies to independently probe and prosecute perpetrators.

A parliamentary panel found that Perpetual Treasuries, a firm connected to the son-in-law of ex-Central Bank Governor Arjuna Mahendran had benefited from irregular bond auctions making billions of rupees in profits.

Wickramaratne said Prime Minister Ranil Wickremesinghe had asked for the report by parliament’s Committee on Public Enterprises (COPE) to be referred to the Attorney General for action.

"It is a public report, and I call upon the authorities to take action," Wickramaratne told reporters.

"If after legal action is taken, and the fraud and loss to the government is found, let’s assume we are are told that there is a lacuna in the law to recover the losses.

"I am saying publicly today that if there is a lacuna in the law, we will bring a new laws to take back losses to the government."

Wickramaratne said a fraud appeared have been committed and there was also a ‘ring of corruption’ around the some Central Bank workers, Employees Provident Fund and state bank dealers.

 

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