Sri Lanka President to speak on bondscam probe recommendations on Jan 03

ECONOMYNEXT – Sri Lanka’s President Maithripala Sirisena said he will make a statement on a the report on an inquiry in to the country’s biggest securities scam on and its recommendation on January 03.

"I will make a special statement to media on Presidential Bond Commission report and its recommendations on Wednesday, January 3rd," he said in a post.

The commission of inquiry probed a series of rigged bond auctions conducted by the central bank under then Governor Arjuna Mahendran where his son-in-law’s company Perpetual Treasuries bought securities at low prices (high yields).

The bond were then dumped on the central bank managed Employees Provident Fund and other state funds at high prices (low yields) through several securities dealers.


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