A NOTE from Sam Samarasinghe, 11 November 2018: “Here is the Central Bank of Sri Lanka Bond Scam article, “The Bond Issue Controversy: An Analysis” that you wanted. It was published in March 2015 in The Island and the Financial Times. In April 2015 the weekly newspaper Ravaya published a Sinhala translation. Groundviews carried the English version. We pointed out that the crux of the issue was “insider trading” a practice that is common in white collar financial crime almost everywhere. Our article tried to explain the technical maneuver that led to the fraud. The Presidential Commission that investigated the bond scam in great detail later confirmed what we stated in the article. We were not conducting a criminal investigation to find out those who were culpable. That is a job for the Criminal Investigation Department.”
Sam Samarasinghe and Dushyantha Mendis: “The Bond Issue Controversy: An Analysis.” in GROUNDVIEWS, 26 March 2015, https://groundviews.org/2015/03/26/the-bond-issue-controversy-an-analysis/ … where several comments can also be found
The issue of government bonds on February 27 has raised a huge controversy, involving questions as to the competence of the Government of Sri Lanka (GOSL) and the Central Bank of Sri Lanka (CBSL), and also allegations of insider dealing. The government has been slow to respond to the public outrage the controversy has evoked. This article tries to explain the intricacies of the issues involved in this controversy. We believe that a more informed public will be better able to hold accountable those who are responsible for the events that occurred and thereby contribute to the cause of Yaha Paalanaya. Continue reading
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