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Colombo (News 1st); The scam related to the importation of sugar to Sri Lanka, which is widely known as the Sugar Scam is similar to the Central Bank Treasury Scam, which involved insider information and causing losses to the state.
INSIDER INFORMATION
In the Treasury Bond Scam, Perpetual Treasuries Limited, a primary dealer company owned by Arjun Aloysius benefited from Insider Information given by then Governor of CBSL Arjuna Mahendra, who is also the Father-in-Law of Aloysius.
The report of the Presidential Commission of Inquiry revealed the Insider Information related to the number of bonds that were to be accepted as well as other key price-sensitive information.
Ruling party calls for Forensic Audit on Sugar Scam newsfirst.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsfirst.lk Daily Mail and Mail on Sunday newspapers.
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Colombo (News 1st); The Government is linked to large-scale fraud and corruption, alleged Venerable Madille Pannaloka Thero, the General Secretary of the Sinha-le Movement.
The tax benefit from importing sugar was given to please the associates of the government and it cost the tax-payer Rs, 15 Billion, alleged the Thero.
The Venerable Thero went on to note the fraud and corruption committed by those in government in the past two months alone is greater than the infamous Central Bank Treasury Bond Scam.
Venerable Madille Pannaloka Thero said when looking at the facts of the President’s address to the nation on Independence Day, it is evident he had failed.