Action filed against former NSB Chairman

25 October 2012 06:44 am - 22 - {{hitsCtrl.values.hits}}

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The Commission to Investigate into Allegations of Bribery or Corruption filed report in the Colombo Chief Magistrate’s Court today against former National Savings Bank Chairman Pradeep Kariyawasam accusing him of causing a monetary loss of Rs. 391 million to the government by unlawful purchases of shares of The Finance Company.

The “B” report filed by the Commission before Colombo Chief Magistrate Rashmi Singappuli has accused the former NSB Chairman of causing monetary losses to the government amounting Rs 39,113, 554 and 33 cents by unlawfully transacting with The Finance Company to purchase shares.

The complainant U.L.A.D. Kithsiri Perera, an executive officer of the National Savings Bank had alleged that the former Chairman had made use of his official position to purchase the shares intentionally to cause monetary loss to the government by purchasing 7,863,362 shares of the Finance Company. The Commission in its report on complaint had stated that the former Chairman had committed an act punishable under Section 70 of the Bribery Commission Act.

The former Chairman is also accused of having informed The Finance Company that the Bank would buy the relevant shares of The Finance Company by unlawfully making use of his official position as the Chairman of the bank.

It was also alleged that the Chairman had impressed on the management of The Finance Company to appoint Shan Chandrasekeran Shanmugam to the Director Board of The Finance Company by making use of his official position as the NSB Chairman.

The Commission produced 51 productions and 26 witnesses to support the claim. The Magistrate issued notice on Dr. Pradeep Kariyawasam to appear in courts on February 28. (TFT)

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Comments - 22

Minister Thursday, 25 October 2012 10:57 AM

Will he now spill the beans?

shamini Friday, 26 October 2012 06:22 PM

Good if he does that. We will get to know who really wanted NSB to purchase The Finance shares!

AJ Friday, 26 October 2012 12:11 PM

He has the best insurance that not even money can buy... Keep in mind that his wife is the Chief Justice... So which judge in his/her right mind would take up this case

Allan Perera Friday, 26 October 2012 05:52 AM

The husband of the Chief Justice of a Country being accused of bribery! It does not get any worse that that!

Kautilya Friday, 26 October 2012 04:11 AM

Sri Lanka lost millions of Dollars in Oil Hedging Deal.Deal makers did world tours for Hedging Study funded by clients. The wheeler Dealers went Scott free and the top man was given an another splashy appointment because he had the right family connection. For them no Bribery Commission nor any other investigation.

frank hilary Friday, 26 October 2012 02:52 AM

It seems that the writing on the wall is very clear. God save the Supreme Court of Sri Lanka !

Avi Thursday, 25 October 2012 02:28 PM

What about defence secretary's buddy/business partner Rene Silva who looted over 200 millions in this fradulent deal. Is he off the hook just like his brother Duminda Silva?

Poirot Thursday, 25 October 2012 12:17 PM

when did he become a Dr. CJ?

siri Thursday, 25 October 2012 12:05 PM

This has only made it to court due to the ongoing dispute with the judiciary and the Chief Justice. If it was all ok then this would have just disappeared like all the other cases. Selective action.

Monkey Thursday, 25 October 2012 11:35 AM

Bet all these actions will fade away when the SC clears the govt bills.

dila Thursday, 25 October 2012 11:17 AM

who will hear the case ? will it be ........OMG

Kautilya Thursday, 25 October 2012 07:16 AM

Banana Republic in Action

perumal Thursday, 25 October 2012 10:42 AM

Because they gave time for CJ to fall in line, which was not forthcoming.

richardson Thursday, 25 October 2012 10:39 AM

Nona eya Hetama nidahas karavi.

Eyamada Naduwa da Gaththe.

Dilip Thursday, 25 October 2012 10:34 AM

This what happened when you don't give the CUT !

Kondebendapucheena Thursday, 25 October 2012 09:58 AM

If he is innocent this is the time to prove it,

KP Thursday, 25 October 2012 09:13 AM

Hope a fair Judgment will be delivered. Unlike former CJ, the present CJ would not say ‘we released him, thinking that he will be a good man thereafter’

mana Thursday, 25 October 2012 09:02 AM

When you Sleep with DOGS this what happens !!! GOOD LESSON FOR OTHER .. UM SUCKERS AS WELL !!!

Don Thursday, 25 October 2012 09:01 AM

Probably for some missing stationary.

summa Thursday, 25 October 2012 08:45 AM

Correct action .....for wrong reason

Most Wanted Thursday, 25 October 2012 08:35 AM

Hope hes insured himself......

Samantha Thursday, 25 October 2012 08:42 AM

Why So... late

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Action filed against former NSB Chairman

Comments - 22

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