Arittha in Cartwheel on SEC
(Lanka-e-News -27.Sep.2012, 4.00PM) Arittha Wickramanayake, ex DG-SEC was a loud critic of the mafia alleged to have manipulated the Stock Market. He even said in disgust that everyone should get out of it. He has now turned turtle by joining the mafia installed Chairman-SEC, Dr. Nalaka. DailyFT headline of 26th September says it all.
As DG-SEC, it was splashed in newspapers that Arittha did not get on with SEC Chairman, highly respected C.P. De Silva, who also condemned the manipulation of the Stock Market through pumping and dumping, and means of deception and perception.
Attached Letter written by a Director of Brokers, Forbes & Walker complaining to C. P. De Silva, Chairman SEC, blows the lid of his credibility.
Arittha’s law firm Nithya Partners were involved in the illegal hedging deals by Petroleum Corporation. This law firm were lawyers for Petroleum Corporation and not the Attorney General. Having been at the AG’s Department, Arittha would have known the correct practice.
When the controversy broke, Arittha stated that his firm had only dealt with the Master Agreement. The following part of the High Court Judgment in the Standard Chartered Bank case discloses that the firm had approved the transactions in the Schedules. The evidence recorded is revealing.
“330( The Master Agreement, including the terms of its Schedule, was considered by and negotiated between SCB and CPC’s Chief Legal Officer (Geetha de Fonseka) and Nithya Partners, over a number of months.”
Should not the Petroleum Corporation and Government sue Arittha’s law firm for the losses incurred ?
Dr. Harsha de Silva, MP is the only person exposing the true facts. The public should be grateful to him. He should be supported.
On the other hand, the DailyFT alias the Foolish Times is leading for an Award – as the best News manipulator, supporting the manipulators and not reporting as a newspaper.
Arittha appears regularly on Derana TV of Dilith, as legal expert. Has Arittha’s cartwheel also been by dealer fixer Dilith, who played a lead role in the SEC fiasco ?
How did Foolish Times only get the news that 50 Letters had been sent out ? Did the Commission approve these Letters ? How were the parties selected ?
There are SEC investigations pending regarding Share dealings of Colombo Land & Development PLC of which Dr. Nalaka is Chairman. How could he when investigations are pending be appointed as Chairman SEC ? Foolish Times over to you !
Arittha is also legal advisor to Taprobane Securities which belongs to Ajith Devasurendra and is run by Dinal Wijemanne - both involved in the TFC – NSB deal.