By Yusuf Ariff Courtesy Adaderana

The final report of the Special Presidential Commission of Inquiry, which investigated the controversial Central Bank treasury bond issuance, reveals that Perpetual Treasuries Limited had gained an advantage of Rs 11,145 million from secondary market transactions within 5 months.

President Maithripala Sirisena revealed this while making a special statement to the media regarding the final reports of the Special Presidential Commission to inquire into the allegations of malpractices in the bond issue of the Central Bank of Sri Lanka and the Presidential Commission of Inquiry to investigate and inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC).

The President stated that he has already sent the report of the Bond Commission to the Attorney General to pursue with onward legal action against those found responsible.

I have already handed over this report to the Attorney General while the commission’s report says that criminal cases and civil cases should be filed by through the Criminal Investigations Department and the Briery Commission based on the recommendations of the report,” the President said.

He said that according to the report, the primary dealer Perpetual Treasuries Limited had amassed wealth in an unlawful manner through the participation of Mr Arjuna Mahendran, bank officials and other external parties.

The report states that the minimum advantage gained by Perpetual Treasuries through the treasury bill auction held on February 27, 2015 alone exceeds Rs 688 million.

The report states that these information uncovered within the duration of this investigation and that figures could be even more sometimes, he said.

According to the finding of the commission, the company Perpetual Treasuries had gained an advantage of a minimum of Rs 11,145 million from secondary market transactions while out of that the losses connected to the Employees Provident Fund (EPF) and other state intuitions is Rs 8,529 million.