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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.