Kulanthi Silva's banner
Kulanthi Silva's profile picture

Kulanthi Silva

@kulanthisilva30,677 subscribers

Videos

kulanthisilva's profile picture

“There are accusations of a scam, but I don't understand what the scam is. Was there a financial loss? Was any money stolen? Please explain the scam to me, and then I will answer your questions. Is buying bonds a scam? Is selling bonds a scam? Or did the governor of the central bank secretly take the money and give it to his son-in-law? What scam has happened here? In February 2015, the central bank requested bonds for 1 billion rupees. They ended up buying 10 billion rupees worth of bonds. Most of the bonds went to Perpetual Treasuries, one of the main bidders, a company that was owned by the governor's son-in-law. This is what these people are calling a scam. Some people say that 11 billion rupees were lost. These are just stories. 12 billion rupees worth of bonds were in the Central Bank's Perpetual Treasuries account. We took control of that account. That is the background of this. Have you read the commission report? The commission report says that Arjuna Mahendran was a suitable person for the post of governor of the central bank. The only issue was whether there was improper communication between the governor and his son-in-law which still needs to be proven. The decision to buy the bonds was made that night, and the bonds were bought the next day. Perpetual Treasuries says that there was no improper communication. They say that this kind of thing has happened before, under the previous governor of the central bank when the sister of the owner of the Perpetual Treasuries was serving as a Board of Director of the CBSL. Second, the central bank was offered 20 billion rupees worth of bonds. The governor said to take 20 billion rupees worth of bonds, but the officials of the CBSL only wanted to take 5 billion rupees worth of bonds. They discussed it, and in the end, they agreed to take 10 billion rupees worth of bonds. Everyone agreed to buy 10 billion rupees worth of bonds. The main issue here is that we had not decided on a price. The company officials say that they got the information about the price from the Bank of Ceylon. The Pitipana report also says to look into the Bank of Ceylon. These are the facts. Is that clear? All of this is in the commission report. Not a penny was lost. So where is the scam? The absence of a loss does not necessarily mean that there was no scam. The presence of a loss does not automatically make something a crime. The media has been sensationalizing this story and portraying this as a major scam, but they do not seem to have a clear understanding of the scam they are reporting on. They are all talking about things they do not know. I am the one who with the advice of the Attorney General instructed the Criminal Investigation Department to investigate whether there had been any scam.” The Battle | Ranil Wickremesinghe | 31.07.2020

Kulanthi Silva

29,712 views • 3 years ago