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No follow-up action on BoC

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Probe on Bond Issue

The Nation learns that although the committee appointed to probe the controversial Bond Issue by the Central Bank recommended an inquiry into the involvement of the Bank of Ceylon (BoC), no action has been taken so far.

The Committee found that there was no direct involvement of Governor Arjun Mahendran but clearly implied the possibility of complicity indirectly.

It further questioned the ‘strange behavior’ of Perpetual Treasuries Ltd, owned by Arjun Aloysius, son-in-law of the Governor. It strongly recommended a follow-up probe on the Bank of Ceylon which financed the deal that helped Perpetual reap rich awards amounting to billions of rupees.

Dr. Harsha De Silva, Deputy Minister of Policy Planning, Economic Affairs, Child, Youth and Cultural Affairs told The Nation that the matter has been referred to the newly set up Financial Crimes Investigations Division (FCID) of the Police Department. However, Police Spokesman ASP Ruwan Gunasekara told The Nation that his Department has received no such complaint or instruction to investigate the matter.

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