Former COPE Chief wants President to implement law on forensic audit report

Jan 28, 2020 (LBO) – Former Chairman of the COPE Committee, JVP Parliamentarian Sunil Handunnetti has written to the President requesting that the law be implemented based on the forensic audit report of the Central Bank bond issue.

Translated version of the letter:

The President,

Democratic Socialist Republic of Sri Lanka,

Colombo 01.

Your Excellency,

Request to enforce the law based on the forensic audit report on Central Bank bonds

The Forensic Audit Report prepared by the Central Bank of Sri Lanka with the expertise of specialist organizations on Central Bank bond transactions, which has caused much controversy and the biggest financial crime in the country, has been tabled in Parliament.

2. The forensic audit report has confirmed the conclusions and recommendations of the investigations carried out by the COPE Committee and the Presidential Commission on Central Bank Bond Transactions, and has strengthened the legal background of scientific investigations. At the request of the COPE Committee, this forensic audit report has been prepared for a judicial proceeding. Therefore, taking advantage of it is not a waste of time and public money.

3. This forensic audit report has revealed that up to the very beginning of the fraud and irregularities in the bond transactions in particular, the long-standing conflict of interest had adversely affected the central bank, the main financial institution. The agitations of various individuals and their fleeing against the report show how worried they are about the legal process against these fraudulent transactions.

4. The forensic audit report on the bond deal shows that the impact of this bond scam is not solely on the Central Bank. It has been revealed that these transactions have caused a serious loss to the Employees Provident Fund (EPF) which the working people of the country have collected under very difficult circumstances.

5. Legal action against these financial robbers has been delayed for at least five years. Since the forensic audit report has been released, you and your government are empowered to initiate the judicial process based on it. Similarly, if not implemented promptly, the country’s financial laws may be perceived to be different from those of ordinary people and white-collar criminals, which will seriously undermine the country’s financial sector and the public’s confidence in the law.

6. It is also an opportunity for us to emphasize that we are committed to the struggle since the first time the scam was revealed to expose the perpetrators of the bond racket that robbed the country’s vast sums of money and to take the public money to the country. Therefore, we urge you to take immediate action to bring all the bond fraudsters mentioned in this report to justice and to punish them.

Sunil Handunnetti

Former COPE Chairman

Member of Parliament

People’s Liberation Front

Original letter: