Interdicted EPF officer taken to task

The Presidential Commission of Inquiry yesterday suddenly summoned CBSL Senior Assistant Director Saman Kumara as a witness while he was recording statements with the CID and the PCoI instructed him to reveal the truth without resorting to contradictions.

He was summoned by the Commission soon after the Pan Asia DGM's cross-examination was adjourned.

Mr. Kumara was the dealer for the EPF in the secondary market transactions with PTL while Pan Asia Bank (PABC) had acted as an intermediary for both due to the regulatory counter party restrictions, according to evidence of PABC DGM.

Additional Solicitor General (ASG) Dappulada Livera initially questioned the witness, Saman Kumara regarding his assets, income and other possessions before the Commission.

While Saman Kumara was testifying, the Commission was repeatedly reprimanded him warning him to reveal the truth because his testimony seemed contradictory with regard to his assets.

Consequent to the series of questions put forward by the Commission and the ASG, the witness revealed about his possessions under his name and those under the names of his wife and his mistress.

It was revealed during the cross-examination that Mr. Kumara's assests included:

  • Three personal vehicles.
  • A filling station including two fuel bowsers, which were operated. through the company called ‘Ocmart’.
  • A Gem Exporting business.
  • A company named ‘Country Kitchen’.
  • A factory named Eco Tex.
  • A few properties including fixed deposits.
  • 19 bank accounts in nine banks.
  • Monthly wage of Rs.208,000 at CBSL.


The ASG said the witness seemed a downright liar, as his answers to the commission were incompatible.


However, after obtaining permission from the commission, the witness made an explanation regarding the issue.

The witness was of the view that there is a conspiracy going on against him at the Central Bank in a malicious manner accusing him for the incident.

He said he was an employee of the CBSL having an intention of creating better market transactions.

“I was in favour of the 'Auction only system’ in Treasury Bond transactions, and I liked former Governor Arjun Mahendran coming in because he was a good worker in the fund management field in Singapore and he was also in favour of having an auction only system”, he said.

When questioned by the ASG it was revealed that the witness and two other CBSL officials had met a relevant Minister immediately after the Bond auction held on February 27, 2015 on the instructions of the former Governor, to provide information to the minister regarding the recent bond auction.

Considering the statement of the witness, the Commission advised him not to fear anything and expose everything that he knows about the incident and the people who instructed him.

‘We want to reveal the truth, so we expect you would support us by revealing everything you know,' SC Justice Prasanna Jayawardena said.

The Commission also directed him to hand over his passport and previous mobile devise to the prosecution to examine further into the witness. (Shehan Chamika Silva)

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