Government should conduct a fresh impartial Criminal Investigation Department (CID) inquiry on the bond scam that happened in 2015 February said former Governor of the Central Bank (CBSL) and advisor to Prime Minister Ajith Nivard Cabraal in Temple Tress yesterday.
He said that the Forensic Audit conducted by the CBSL, involved officials who were implicated in the Bond scam hence its findings cannot be accepted. “Auditor General should have conducted this Forensic Audits and not CBSL officials. There is conflict of interest here,” Cabraal pointed out.
The government had spent Rs. 275 million for this Forensic Audits and also hired two international auditors, BDO India and KPMG India who were later black listed by the Indian government for fraud. “This also shows the credibility of the forensic audit.”
Cabraal revealed that 30 computers, 30 lap tops, 15 printers and many other facilities were provided to conduct his audit.
Recalling the past he said that when pressure was mounting to conduct an investigation on the 2015 Bond Scam, the then Prime Minister Ranil Wickremesinghe first appointed a committee of UNP Lawyers to prepare a report. This was rejected by the people.
‘’Two COPE investigations and a Presidential committee also held inquiries but these reports too are not acceptable as they were conducted to safe guard the interests of wrong doers,’’ he alleged.
“The actor turned politician Ranjan Ramanayaka’s leaked tape conversations with the top member of the second COPE committee also revealed the vested interests of its members. The second COPE went out of their way to protect individuals and it cannot be accepted as true.”
The former governor also said that the subsequent Presidential Commission also followed the footsteps of the second COPE and covered and deleted foot paths of the wrong doers as done earlier.
Cabraal explained that evidence show that Perpetual Treasuries (PTL) which had been participating in earlier bond auctions could only account to less 10% of bonds but in 2015 February auction they unfairly had a monopoly. Ex Prime Minister Wickremesinghe had in Parliament admitted he did change the auction system which enabled PTL to get an advantage. In addition he also said that some companies were stopped from biding to give the edge to PTL and all these point out to a massive premeditated fraud.
Former CB Governor Arjun Mahendran at the Presidential inquiry also admit that he conducted the 2015 bond auction on the instructions of the then PM, Wickramasinghe. He said that due to this scam interest rates went up and several government banks and EPF suffered major losses. “However there is no proof to say that similar things happened in earlier auctions. Actually government and private companies gained from earlier bond auctions.”
Cabraal explained that the first COPE report conducted by D. W. W. Gunasekera was not allowed to see the light of the day as the Parliament was dissolved when it was tabled in Parliament.
He said that he was a keen promoter to bring the culprits to book and he was targeted during the previous government with series of accusations on previous bond auctions but none were proved. “I was happy to face several inquiries as they helped to clear me and my relative’s names forever.”
He said that since the earlier probes have all failed a fresh probe by the CID with the assistance of experts if necessary be conducted to probe into the controversial Rs. 11 billion Bond Scam of February 2015.
Cabraal also said that this inquiry can be done in the absence of former Governor Mahendra. “I will also inform President Gotabaya Rajapaksa to initiate Police inquiry.”
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