A Ranil – Mahendran mega game?

More information is being revealed regarding the auction of treasury bonds that has been involved in a large scale financial fraud. The announcement by the Central Bank on the 25th stated that it was expected to get a loan of Rs.1000 million from the auction to be held on the 27th.

However, at the issue of treasury bonds on 27th February the government obtained a loan of about Rs.10058 million. The issue that arises is that ten times of the expected loan has been obtained and it had never occurred before. Also, in the announcement issued by the Central Bank on 27th February the maximum interest mentioned was 12.5% and the normal interest rate was 11.73. This indicates an opportunity was created for Perpetual Treasuries Pvt. Ltd to carry out a large scale financial fraud. Now the President is preparing to appoint a committee of three to investigate the matter.

It is revealed that the relevant Perpetual Treasuries Pvt. Ltd is a company owned by the son-in-law of the Governor of the Central Bank Arjun Mahendran. It was Prime Minister Ranil Wickremesinghe who got down Arjun Mahendran from Singapore and gave him citizenship of this country within one day and appointed him the Governor of Central Bank. At present Sri Lanka Central Bank comes under the purview of the Prime Minister. When Mr. Ranil Wickremesinghe was the PM during 2002/2004 period Mr. Arjun Mahendran was the Chairman of Board Of Investments (BOI) and there were many issues.

Financial experts say Mr. Arjun Mahendran should temporarily withdraw from his position and allow investigations to be carried out.