Mahendran responsible for CB Bond scam: COPE report
Posted by Editor on October 28, 2016 - 12:06 pm
Former Central Bank Governor Arjun Mahendran was held responsible for the controversial Central Bank Bond sale scam in the COPE report presented in Parliament a short while ago,
The COPE had recommended legal action against Mr. Mahendran.
Latest Headlines in Sri Lanka
- Uma Oya Development Project inaugurated April 24, 2024
- Damitha Abeyratne and husband granted bail April 24, 2024
- Iranian President Dr. Ebrahim Raisi arrives in Sri Lanka April 24, 2024
- Puttalam Quazi Court Judge arrested for alleged Bribery April 24, 2024
- Sri Lanka implements special traffic plans for Iranian President’s visit April 24, 2024
Then arrest him and bring charges against him. PM says Mahendra is in Singapore attending a wedding!
Our super sleths in FCID should be boarding a flight to Singapore to throw handcuffs on Bondy Mahendran after the cutting of the wedding cake.
Premier RW should be drafting his resignation speech.
Boss MS should be preparing to swear-in MR as the Premier and RW as the Leader of Opposition.
Yahapalanaya Version 2.
What the system ought to look into is my earlier allegation that Mahendran had connections with Rajararname who was sent to jail in the USA for insider trading. When his case was investigated by the FBI there were alledagtions that he sponsored the Tiger terrorist movement. Further Rajaratnam must have siphoned millions away. through agents like Mahendran and most likely he must have had agents in places like Singapore and Malaysia where the systems are just as corrupt.
Anyhow since Rajratnam activities are on record I am sure the state department ought to provide the SL government some intelligence.
Ravi what not is also in the part of this conspiracy for he brought in proposals to unsolicited foreign investors to deposit money in Sri Lanka with no questions asked, unfortunately our fragile economy is not creditworthy no more that the guy running the central bank
Excellent comment Chie,
Agree Ranil, as the last remaining true democrat and honourable leader, should resign his position forthwith.
However, MR is too big to fill-in the shoes of a Prime Minister; MR is an elder Statesman of this nation who gave this country what other political leaders failed to give over a period of 30 years. We should be seriously thinking about how we could establish his legacy so that in 50 years time, society will revere him as an extraordinary leader who changed the destiny of this nation.
Suggest Big Boss MS appoints M/s Pavithra Kumari Wanniarachchi (who has proven performance in many Cabinet Portfolios in the MR1 Govt and as JO Leader) or Mahindananda Aluthgamage (again, proven performance as Cabinet Minster and JO Leader) as Prime Minister to replace the failed RW.
What should be looked into is how much Perpetual Trustees have donated in the past to the SLFP and in recent years, to the UNP!
The citizenry will be shocked at the amounts donated by Perpetual Trustees to leading political parties.
Mahendran and Arjun Aloysius have got us by the balls and its really hurting!
Brilliant comment Karandupana,
Pavithra Kumari Wanniarachchi will be an excellent successor to Wimpy Wicks; she is Presidential material.
There appears to be a electronic media blitz to brainwash the people into clouding the issue od the bid bonds the COPE has not explained to the people what the correct procedure for the bid bond by any Central Bank is nor has the Auditor General explain from central banks in SAARC countries what should have been the procedure for Sri Lanka IF any member do not agree with the JVP or the SLFFP they are called helpers of corruption by the electronic media in this situation only the Attorney general who would look into the evidence that can decide whether there is credible evidence for procecution
This is strange that Mahendran was allowed to leave the country pending the COPE investigation. When t the PM was questioned in the HOUSE his response was that he had to attend a wedding I am sure he could have found a better excuse. Now that several guys have been named in this conspiracy the government ought to call the authorities to have their passports impounded even then they will escape but then at least we know.
Further in this conspiracy the Chairman of the Bank of Ceylon ought to be questioned as to whose authorities the millions of rupees released .
Eng MVR Perera and Zamabe,
These Bonds are a complex issue.
The sale of Bonds in the Market leads to high levels of speculation and monetary tact.
If you deal in Bonds according to a Public Service (Central Bank) Rule Book, you will most likely loose on the deal.
If you are an experienced risk manager with delegation to make decisions on the floor of the trading house, you will make a good deal.
That is what Mahendran is, an experienced global fin market risk manager.
When a high-end rule book dominated public servant, such as the Attorney General, reviews the transaction after the event, he is bound to conclude that many of the bureaucratic rules were broken in conducting the transaction, and therefore the country suffered a loss. The Attorney General is clueless about risks and risk management.
Don’t worry about Perpetual Trustees; they are playing a high risk ‘bond trading’ game. One day, they gain big and the next, they go bankrupt.