The story is that the Central Bank’s lately announced 30-year Bond indicative rate has jumped from 9.5% to 12.five%. Perpetual Treasuries Capital (Pvt) Ltd, owned by and CEO is Arjun Aloysius, has bought and resold the bonds and produced millions if not billions on the identical day. Looks like an insider deal.
Also, for the duration of the last week many 5-10 year bonds at low rates were sold by CB Governors’ son-in-law Arjun’s organization and reinvested in the 30 year bond, since he had inside data from the Central Bank that the rates would go up to 12.five%.
Just before appointing Arjuna Mahendran as Governor of Central Bank, have been not Prime Minister Ranil Wickramasinghe aware of his connection with Raj Rajratnam? The Central Bank now directly comes below Ranil Wickramasinghe’s Financial Affairs and Policy Arranging Ministry.
Present CB Governor Arjuna Mahendran is a childhood friend of Raj Rajaratnam as admitted by him.
Additionally, present Finance Minister Ravi Karunanayake alleged to have received US $ 3 million from Raj Rajaratnam contravening exchange manage regulations handful of years ago. The case is getting heard in Sri Lankan Courts.
Raj Rajaratnam, who was a significant financier of the terrorist outfit LTTE, was sent to U.S. Jail for insider trading in New York.