Bribery Commission files case against former NSB Chairman

October 25, 2012 10:41 am

The Bribery and Corruption Commission has filed action at the Colombo Magistrate Court against former National Savings Bank Chairman Pradeep Kariyawasam for alleged corruption in The Finance Company (TFC) and NSB transactions.

The Commission to Investigate Allegations of Bribery and Corruption commenced investigations into the controversial share transaction between the National Savings Bank (NSB) and The Finance Company (TFC) last month.

Former NSB Chairman, Pradeep Kariyawasam was summoned by the Commission to record a statement on the NSB-TFC transaction, sources told Ada Derana.

The deal involves a 13 per cent stake of The Finance Company (TFC) being bought by the NSB on April 27 at around Rs. 50 a share. This was through four separate transactions involving two TFC directors and NSB Chairman Pradeep Kariyawasam, when the share market price was hovering around mere Rs 30-31 a share.

Pradeep Kariyawasam questioned by the Bribery Commission
Sep 18th, 2012

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