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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » PM speaks on financial fraud and Parliament

PM speaks on financial fraud and Parliament

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Teller

Teller
Moderator
Moderator
Prime Minister Ranil Wickremesinghe, speaking at the UNP Headquarters on Friday, stated that large scale fraud that had taken place at the Colombo Stock Exchange and treasury bonds during the previous regime will be exposed to Parliament.

He added that a committee has been appointed to look in to the Central Bank and that the committee was appointed to look into whether a fraud took place in the auction over Rs.10 million in the  month of February and that the matter was taken up by the Supreme Court.

He added that this matter was taken with transparency and given to the Parliament and it has now been presented to COPE.
He also added that there has been an inquiry over Rs.10 billion  and everything was done according to the wishes of various associates and there was no transparency in the procedure. He went on to add that the mentioned associates did not follow the public auction and submission to the Tender Committee and purchased the bonds directly and personally and it was available to be used at their pleasure.

He further stated that almost Rs. 2700 million were skimmed and the earning on this is even more. He also noted that over five years this money has been put in stocks and in markets and the profits reaped are unknowingly large.

He went on to add that he has instructed the the Central Bank to inquire in to this and provide all the information required to expose this to the Parliament and also to expose those who committed it.

When questioned about the manner in which MP Vasudeva addressed the Parliament on Thursday, the Prime Mnister added that this is the way these  ‘defeated people’ will tend to behave and compared the MP to a dried pumpkin.newsfirst

Ryan Hudson


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Ask PM to pay back what he earned from Bond issue with Mahendran, Rs. 40 billion

DammanBoy


Equity Analytic
Equity Analytic
Remember we or our children have to pay at 12.5 % for next 30 years . Three decades from now is long period. Almost all those who  helped and participated in this white collar robbery will leave this earth  before the end of that long spell.  They can acquire at least 30 billion years life in hell with their billion Rupee profit. So they can continue their bond games happily in hell.

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