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CONTROVERSIAL 30-YEAR BOND ISSUE:Committee finds serious lapses by BOC; recommends forensic audit an

20 April 2015 10:03 am - 0     - {{hitsCtrl.values.hits}}


The Committee appointed by Prime Minister Ranil Wickrasinghe to inquire into the controversial 30-year bond issue has found “serious lapses” on the part of state banking giant Bank of Ceylon (BOC) which routed unusually large amount of bids on behalf of Perpetual Treasuries. 
“The Committee observed that the bidding pattern of Perpetual Treasuries was unusual and warranted a further investigation,” a communiqué issued by the Ministry of Policy Planning and Economic Affairs said.
The Committee recommended BOC to carry out a forensic audit and seek explanation from its Chief Dealer and others on ad-hoc decisions taken, risking a large amount of BOC funds involved in 30-year bond transactions. 
BOC Chairman Ronald Perera on April 8 said General Manager D.M.Gunasekera had been placed on leave to facilitate investigations, which he didn’t specify.

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