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Colombo Fort Magistrate Lanka Jayaratne Refuses Bail to Central Bank Ex-Deputy Governor , Chairman of Perpetual Treasuries Ltd and Three PTL Drectors Charged Under Artile 56 of Stocks and Securities Ordinance and Remands all Five Until April 5

By A.J.A.Abeynayake

Colombo Fort Magistrate Lanka Jayaratne refused bail to Chairman of Perpetual Treasuries Jeffrey Joseph Aloysius, former Deputy Governor of the Central Bank Pattinige Samarasiri and three directors of Perpetual Treasuries (PTL) when they were produced before her yesterday in connection with the bond scams.

The suspects were remanded till April 5.

The defence counsel argued that the suspects had been charged under the provisions of article 56 of Stock and Securities Ordinance and requested the court to grant them bail under any condition.

The defence also told court that most of the suspects had visited the CID and made statements whenever they were requested to and also provided the documents the CID asked for cooperated with the police on the ongoing investigations and guaranteed that the suspects would not avoid court or attempt to hamper investigations.

Nalin Ladduwahetty, the counsel for the 10th suspect, Pattinige Samarasiri, told court that though his client had served as the Chairman of the Treasury bond tender board he had acted on the instructions of the then Governor of the Central Bank, Arujuna Mahendran.

At this juncture Deputy Solicitor General Haripriya Jayasundera appearing for the prosecution, told court that according to the reccomendations of the Presidential Commission of Inquiry which investigated the bond scams, the Deputy Governor of the Central Bank and those who served as the directors of PTL during the period of the treasury bond auctions had been arrested.

The judge said she refused bail said that taking into consideration the seriousness of the charges against the suspects, the severe financial losses caused to the state by them, the public outcry and the reaction of the public if the suspects were granted bail, refused to grant bail to the suspects.

Attorneys-at-law Buddhika Chandrasekera, Aravinda Gamage, Sajitha Jayawardena, Yohan Cooray, Harsha Fernando, Hafeel Faris, Asela Rekhava, Amila Pieris, Dayal Hettiarachchi, Sanjaya Gamage and Jeewantha Jayatillake, Nalin Ladduwahetty PC and Upul Jayasuriya PC appeared for the defence.

The investigators informed court that the 9th suspect in the case former director of PTL Ajan Gardi Punchihewa was out of the country.

Courtesy:The Island