Following the conclusion of the investigations, former Central Bank Governor Arjuna Mahendran will be given the maximum penalty in connection with the Treasury Bond issue, the Government assured today.
State Minister Lakshman Yapa told reporters in Colombo on Tuesday (11) that an ‘internal’ investigation and the Monetary Board of Sri Lanka are conducting investigations into the matter.
“The Monetary Board of Sri Lanka will also hold a discussion with respect of the case on 14 October,” he added. Mahendran, a Singapore national of Sri Lankan origin, has been accused last year of leaking inside information to his son-in-law’s firm, allegedly allowing it to make millions of dollars in profits from a central bank bond auction.
The State Minister also vowed that the proposed economic pact with India will be presented to the Parliament and the proposals of the agreement are open for debate.
“There would be no harm to the country owning to the Economic and Technology Co-operation Agreement (ECTA).” Yapa said.
