Saturday, March 7, 2015

Central Bank of Sri Lanka - FRAUD IN 50 DAYS!!! THE BIG CHANGE!


The entire business community was shocked with the blatant abuse of power of the new Central Bank Governor Arjuna Mahendran to help his son-in-law Arjun Aloysius, resulting in the fund losing over 2 billion Rupees.

The story is that the Central Bank's recently announced 30-year Bond indicative rate has jumped from 9.5% to 12.5%. Perpetual Treasuries Capital (Pvt) Ltd, owned by and CEO is Arjun Aloysius, has bought and resold the bonds and made millions if not billions on the same day. Looks like an insider deal.

The main bidder, Mahendran’s son-in-law who bid at 12.5%, obviously had inside information and as a result gained high profits, where as the banks and the other financial institutions who made their bids according to the public information given by Central Bank lost out to the company owned by his son-in-law.

Also, during the last week several 5-10 year bonds at low rates were sold by CB Governors’ son-in-law Arjun’s company and reinvested in the 30 year bond, because he had inside information from the Central Bank that the rates would go up to 12.5%.

Evidence of the unbelievable Bond rate:


Before appointing Arjuna Mahendran as Governor of Central Bank, were not Prime Minister Ranil Wickramasinghe aware of his connection with Raj Rajaratnam? The Central Bank now directly comes under Ranil Wickramasinghe's Economic Affairs and Policy Planning Ministry.

Current CB Governor Arjuna Mahendran is a childhood friend of Raj Rajaratnam as admitted by him.

Here is evidence:

Moreover, current Finance Minister Ravi Karunanayake alleged to have received US $3 million from Raj Rajaratnam contravening exchange control regulations few years ago. The case is being heard in Sri Lankan Courts.

Raj Rajaratnam, who was a major financier of the terrorist outfit LTTE, was sent to U.S. Jail for insider trading in New York.

Wednesday, March 4, 2015

Govt. clears Rakna Arakshaka Lanka and Avant Garde Maritime Services of any wrongdoing

The government yesterday cleared the names of Rakna Arakshaka Lanka and Avant Garde Maritime Services. Parliament was told that the setting up of the companies concerned, recruitment of personnel and the payment of taxes and other dues had been done properly.

Leader of the House Lakshman Kiriella, reading out responses to a series of questions raised by JVP leader Anura Kumara Dissanayake on Rakna Arakshaka Lanka and Avant Garde Maritime Services the previous week, said that the Ministry of Defence had given permission to Rakna Arakshaka Lanka to deploy sea marshals. The organisation came under the purview of the Ministry of Defence. The organisation had recruited retired military officers. As the threat of sea pirates was increasing, the organisation had commenced deploying of sea marshals and it had done so in accordance with the provisions and standards stipulated by the International Maritime Organisation of the UN in the Circular MSC1/Circ/1443.

Rakna Arakshaka Lanka had been paying taxes due to the government regularly. It had paid more than Rs. 535 million to the government since 2011. In addition it had paid dividends to the Treasury. The amount of dividends paid by Rakna Arakshaka Lanka to the Treasury since 2011 exceeded Rs. 94 million, Minister Kiriella said.