Treasury Bonds Scam: CBSL ordered to pay investor Rs 1.5 M

By Hansi Nanayakkara | Published: 2:00 AM Jul 31 2020

By Hansi Nanayakkara

Colombo Chief Magistrate Lanka Jayaratna on 29 July ordered the Governor of the Central Bank of Sri Lanka (CBSL), Professor W. D. Lakshman, to release a sum of Rs 1.5 million to a woman who had deposited the money with primary dealer, Perpetual Treasuries Limited Private Limited (PTL), who has been implicated in the CBSL Treasury Bonds scam, which is due to her, through the PTL’s existent fine payment fund.

The woman concerned had previously informed Court that for the monies which she had invested with the PTL, the aforesaid amount ought to be released to her as revenue earned by her.

The Magistrate had issued an order, at the previous hearing, to Chairman of the PTL, Geoffrey Joseph Aloysius, to release the said sum to the woman concerned, through the finances of the PTL.

Aloysius, through a lawyer, informed Court that if the sum of money that had been invested by the plaintiff had matured, he has no objection to it being released to her.

Taking the submission into consideration, the Magistrate ordered Prof. Lakshman, to release the sum sought by the plaintiff through the PTL’s existent fine payment fund, and also ordered the Criminal Investigations Department to submit a progress report on the case at the next hearing scheduled for 12 November.

The CID had made submissions to Court through a ‘B’ Report, based on a complaint lodged with the Inspector General of Police by the then Governor of the CBSL Dr. Indrajit Coomaraswamy, on 25 November four years ago, urging him to probe whether any sensitive information regarding the auction of the CBSL Treasury Bonds had been released to outside parties.

The CID has charged ex-Governor of the CBSL Arjuna Mahendran, Director of the PTL Arjun Aloysius, its Chief Executive Officer Kasun Palisena, Geoffrey Joseph Aloysius, Directors of the PTL Pushpamithra Gunawardena, Chitta Ranjan Hulugalla and Muttu Raja Surendran, and former Deputy Governor of the CBSL P. Samarasiri at the Colombo Chief Magistrate’s Court with being involved in the CBSL Treasury Bonds scam and for having flouted provisions contained in Section 386 of the Penal Code, as well as provisions contained in Sections of the Offences against Public Property Act, as well as provisions contained in Sections of the Registered Stock and Securities Ordinance, No. 7 of 1937. 


By Hansi Nanayakkara | Published: 2:00 AM Jul 31 2020

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