Bribery Comm. takes former NSB Chief to Court

Friday, 26 October 2012 02:28 - - {{hitsCtrl.values.hits}}

By T. Farook Thajudeen

The Commission to Inve-stigate into Allegations of Bribery or Corruption filed report before the Colombo Chief Magistrate Court yesterday against former Chairman of the National Savings Bank (NSB) Pradeep Kariyawasam, accusing him of causing a monetary loss of Rs. 391 million to the Government by the unlawful purchases of shares of The Finance Company.

The “B” report filed by the Commission before Colombo Chief Magistrate Rashmi Singappuli has accused the former NSB Chairman Pradeep Gamini Suraj Kariyawasam of Lake Drive Colombo 8 for causing monetary losses to the Government amounting to Rs. 391 million by unlawfully transacting with The Finance Company to purchase shares which had caused monetary loss to the Government.

The complainant, U.L.A.D. Kithsiri Perera, an executive officer of NSB, had alleged that the former Chairman had made use of his official position to purchase the shares intentionally to cause monetary loss to the Government by purchasing 7,863,362 shares of The Finance Company.

The Commission in its report on complaint had stated that the former Chairman had committed an act punishable under Section 70 of the Bribery Commission Act.

The former Chairman is also accused to have informed The Finance Company that the bank would buy the concerned shares of The Finance Company by unlawfully making use of his official position as the Chairman of the bank.

It was also alleged that the Chairman had impressed on the management of The Finance Company to appoint Shan Chandrasekeran Shanmugam to the Director Board of The Finance Company by making use of his official position as the Chairman of the NSB.

The Commission produced 51 productions and 26 witnesses to support the claim.

The Magistrate issued notice on Dr. Pradeep Kariyawasam to appear before court on 28 February.

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