The Sunday Leader

Bribery Commission Questions Kariyawasam

  • Bribery Comm. commences probe into NSB-TFC deal

By Mandana Ismail Abeywickrema

The Commission to Investigate Allegations of Bribery and Corruption has commenced investigations into the controversial share transaction between the National Savings Bank (NSB) and The Finance Company (TFC).
Former NSB Chairman, Pradeep Kariyawasam was summoned by the Commission a few days back to record a statement on the NSB-TFC transaction.
Chairman of the Commission Justice D. J. De S. Balapatabendi said Kariyawasam was asked to make a statement.
He observed that details of Kariyawasam’s statement would be known only when the report is prepared.
However, he added that a legal report would be called in the event the officers probing the case are faced with any doubts.
The controversy surrounding NSB’s move to purchase shares from TFC at inflated prices began in April this year.
NSB had purchased 7,863,362 shares from TFC for nearly Rs. 394 million, despite objections by several members of the Board.
The deal involved a 13.02% stake of TFC being bought by NSB at around Rs. 49.74 a share when the market price was around Rs.30-31 a share.
The controversy resulted in Kariyawasam resigning from his post in  May.

9 Comments for “Bribery Commission Questions Kariyawasam”

  1. GonNamal

    Upto dated how many big shots like Ministers, MPs, Chairmen, etc were punished by the Bribery Comm? This too will be one like that. That happened only when Ian Wickramanayaka was there

    • w. withana

      Mr Ian Wickramanayaks was one of the most efficient and brave govt: officers whom I met . He was exemplary to others

  2. Makuluwa

    Pradeep K. was a failure in all the companies he worked – top post was a General Manager post even that he failed. Who is the fool who gave him the Chairman position in a Financial Institution. Just because he is a powerful husband does that qualify for this post ?

  3. Kamal H

    If Kariyawasam to be tried in a court of law in Sri Lanka, his wife, Shirani Bandaranayake should resign from her post of Chief Justice.

    • Len

      Sorry to disagree S.L. justice system is the gold standard of the world. Corrupt West should strive to emulate SL.

  4. vintage voter

    THE ONLY TIME ANY “BIG SHOTS” WERE TRAPPED, WERE BY THE
    THALGODAPITIYA COMMISSION”MANY MOONS AGO”
    BRIBERY COMMISSION, COPE, THE POLICE AND THE JUDICIARY
    ARE MERE INSTITUTIONS ALL UNDER THE CONTROL OF THE RAJAPAKSES.
    NOT MUCH WE CAN EXPECT FROM THEM.
    THE LATEST IS THE “FIRING” OF TILAK KARUNARATNE. WHO HAS SPOKEN OUT.. WISH THERE WERE MORE MEN LIKE THEM

  5. Hora Pakse

    All this is an eye wash.
    We all know where and who the BIGGEEST problem is and where all these corrupt ways stem and begin from.
    So we need to look at the root and major cause of the problem of this country and WHO allows and turns a blind eye.
    Until such time, we will NOT see any light at the end of the tunnel BUT will sink deeper into more chaos and unmanageability.
    Bosses must answer or be taken to task NOW.

  6. modawansa

    Dont worry if MR intervenes Kariyawasam will question Bribery Commission.

  7. Kamal H

    People of this country have no faith in the judiciary or any government appointed commissions. When the people who hold higher positions are crooks, can’t expect others to be honest. It’s high time to advocate a regime change.

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