Fri, 10 September 2010  21:10:27
Gold Twist 5 Comment(s)
01 Oct, 2006 15:04:34
New twist to Sri Lanka central banks' Goldquest probe
October 1, 2006 (LBO) – In another twist to the continuing GoldQuest controversy, remaining officials of the anti-pyramiding unit, that probed the GoldQuest case have been transferred for better career prospects, and to complete other urgent work, senior central bank officials said.
"We established the Unit to carry out investigations without disrupting the work of other department, though it has been closed, the urgent work has been completed, "Central Bank, Assistant Governor Y M W B Weerasekera told mediamen.
Responding to questions whether the Special Investigation Unit had been closed because of the newly appointed Governor, Nivard Cabraal's alleged links to GoldQuest, Weerasekera said he was not aware of such links.

"We do not know of such things," Weerasekera told mediamen in Sinhalese.

"It is not fair to ask such questions from me."

Weerasekera was chairing the first media conference held at the central bank headquarters premises, since the new governor took office.

Sri Lanka's main opposition called for a parliamentary inquiry after media reports that Cabraal's family financial firm Capital Reach, had been funded by the GoldQuest group, and his appointment may stop the investigations.

Cabraal had denied wrongdoing.

Before Cabraal's appointment, Central Bank's investigations led to the arrest of several GoldQuest activists who were operating in remote and poorer areas of Sri Lanka.

Earlier in the month news broke that the police investigators seconded to the Unit had been recalled.

The Unit had now been disbanded and its chief transferred to the International Operations Department.

Director of Economic Research H N Thenuwara said officers had wanted transfers to better their career prospects and other departments would carry out investigations.

"The Bank Supervision Department and Non-bank Supervision Department are carrying out these investigations now," Thenuwara said.

"They [transferred officers] also have career prospects, they also have requested to be transferred to some other area, so that is why that has taken place."

The controversial firm's activities prompted Sri Lanka's to bring in a special anti-pyramiding law administered by the central bank.

Central Bank established the Special Investigation Unit to implement the law as well as provisions in other laws that come under the monetary authority.

Bookmark and Share
 
READER COMMENT(S)
5. Oct 24
A VERY INTERESTING ARTICLE. SAD TO NOTE THAT NONE OF THE MAIN STREAM "FREE MEDIA" HAVE PICKED THIS UP OR THOUGHT IT IMPORTANT TO COMMENT UPON. NEITHER HAVE OUR CAPTAINS OF COMMERCE AND BANKING EVER THOUGHT IT IMPORTANT ENOUGH TO SAY A FEW WORDS. OF COURSE THEY ARE ALL NOW WELL INTO THE FELICITATION CIRCUS CURRYING FAVORS AND FLAVOURS.
4. Nicole Phillips Oct 03
Ruling political party - making messes as usual an appointing GQ man as central bank governor an taking corruption to new heights

Main Opposition party - lame duck. sitting on its ass doing nothing

Rabid extremists sitting in parliament - too busy pontificating away, propogating a warped thinking and defending their leaders houses of ill fame..

Who do we have to save this country from the vile diabolical despicable corrupt scum-of-the-earth no gooders in government office (with exception of Auditor Generals dept)? No one.

We are well and truly screwed. God help us all...

3. Oct 02
Hor Hor Hor
The new broom sweeps clean, what? Clean under the carpet, that is.
The Rajapassa regime is playing very true to form, the defining characteristics being incompetence and corruption.
This country has witnessed several sea changes in the level of corruption.

The first was was when JRJ took over in 1977. The second was when CBK took over in 1994. The newest being since MR's take over in 2005. By far the most corrupt and incompetent regime since independence.

We are all going bananas.

2. Singha Oct 02
OH COME ONNNN!!!!!! Is everyone going to sit and tolerate this nonsense??? How blatant is this! Is there ANY economic or logical rationale to the current monetary policy??? Its OUR money, OUR savings, OUR wealth (or soon, LACK thereof!!!!) and its all going down the toilet thanks to U-NO-HOO and his Cronies!!! And the opposition - what the heck are they opposing??? Do you WANT a SINGLE vote in the next election? If the leaders are going to sit on their glutes and yawn, please step aside, and let a few younger members of the party take control coz you guys are like a bunch of bats hanging upside down on the trees, and all you're doing is decorating white walls with diagonal skid-marks while the country goes to hell.
1. Oct 01
Ha ha ha ha ha ha ha---------------he he he he he he------------------Bajraal is going at it like he said he would. God save sri lanka.