Bond scam Central Bank fails to submit records, senior official ordered before court

• The FCID informed court that, despite the previous directive, no response had been received from CBSL’s FIU, and none of the requested reports were presented   

By Bhagya Silva   

Colombo Chief Magistrate Thanuja Lakmali yesterday ordered a senior officer of the Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka (CBSL) to appear before court in connection with the ongoing investigations into the Central Bank bond scam, due to the failure to submit bank records as previously ordered.   

The case is related to the controversial bond issuance of February 27, 2015, which allegedly caused a loss of over Rs. 688 million to the government.   >>A2

The Criminal Investigation Department’s (CID) Financial Crimes Investigation Division (FCID) had earlier requested a court order to obtain records related to accounts maintained by Perpetual Treasuries Ltd at CBSL. The order was issued on March 9, but the relevant documents have not yet been submitted to the court.  

The Criminal Investigation Department’s (CID) Financial Crimes Investigation Division (FCID) had earlier requested a court order to obtain records related to accounts maintained by Perpetual Treasuries Ltd at CBSL. The order was issued on March 9, but the relevant documents have not yet been submitted to the court. The FCID informed court yesterday that, despite the previous directive, no response had been received from CBSL’s FIU, and none of the requested reports were presented. President’s Counsel Sampath Mendis and Rasik Zarook, appearing for the suspects, pointed out that despite over nine months having passed since the Magistrate’s Court proceedings began, the investigation has shown little progress. 

They further emphasized that the suspects are already facing trial in the High Court under separate indictments and requested that a directive be issued compelling an officer from the CBSL’s FIU to appear in person and explain the delay.