Sri Lanka’s Attorney General orders criminal probe on bondscam: Eran

ECONOMYNEXT – Sri Lanka’s Attorney General has asked police criminal investigation department to start a criminal probe on alleged frauds in bond markets involving a firm connected to ex-Central Bank Governor Arjuna Mahendran, a minister said.

On January 10, Dilan Ratnayake from the Attorney General’s department had instructed police to start an investigation, Deputy Minister Eran Wickremaratne said.

Central Bank Governor Indrajit Coomaraswamy had also asked for a criminal probe he said.

The parliament’s Committee on Public Enterprises (COPE) had already prepared a report on the bondscam, where bond auctions were allegedly rigged to benefit Perpetual Treasuries, a primary dealers in gilts connected to ex Central Bank Governor, Arjuna Mahendran.

President Maithripala Sirisena had also ordered a three-member Presidential commission of inquiry to probe the deals.

The central bank said this week that it had asked police to conduct a probe on bonds bought by the Employees Provident Fund.

Legislators said Perpetual Treasuries had dumped bonds bought from rigged auction on the EPF. (Colombo/Dec24/2017)

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