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)