10,000 cheques perused: SDSG Jayasundara

Published : 9:15 am  June 22, 2018 | No comments so far |  | 

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PTL’s alleged money trading

  • Fort Magistrate notices Geoffrey Aloysius to appear in court
  • Prosecution checking on more wrongdoings by  the suspects
  • Palisena, Aloysius re-remanded till July 5

Untitled-8By Shehan Chamika Silva   

Fort Magistrate Lanka Jayaratne yesterday issued notice on Geoffrey Aloysius — the father of Perpetual Treasuries Limited (PTL) Chairman Arjun Aloysius — to appear in court on the next date to show cause as to why PTL failed to fulfil the previous court order directing it to provide a comprehensive audited report regarding PTL’s direct and indirect assets.

 

  • Difficulties in employing an auditor to prepare a report on assets
  • Acquiring of essential data (swift message copies) stored in the PTL server (computer system)
  • Investigators attempted to enter the server with the assistance of an employee of PTL, who was said to have had the system’s username and password 

 

  Senior Deputy Solicitor General Haripriya Jayasundara, appearing for the CID, said PTL as the third suspect of the magisterial inquiry had failed to comply with the court order issued on June 7, 2018.   


The defence moved to consider the difficulties confronted by the company in employing an auditor to prepare a report on its assets.   


However, it was revealed that there was no representation for PTL yet in the inquiry and consequently the magistrate directed to issue a notice on the PTL Chairman to appear in court.   


The Magistrate also considered granting an opportunity for PTL to request for any document in the custody of the prosecution, in the course of preparing an asset declaration because the CID had on a search warrant, taken over documents belonging to PTL.   


With regard to the failure to provide a report on the assets of the other two suspects, President’s Counsel Anil Silva appearing for Arjun Aloysius requested further time to respond as he was the new attorney for the suspect.   
President’s Counsel Kalinga Indatissa appearing on behalf of Kasun Palisena said his client was ready to comply with the required details of his assets despite the difficulties he faced in remand custody.   
The Magistrate advised both counsel to provide details without further delay.   


SDSG Jayasundara too sought court to issue an order against PTL over its failure to provide the required details to the CID of its direct and indirect payments made to third parties including various institutions, so as to use them for the forensic audit currently being conducted by the Central Bank. 

 
However, contemplating on the possibility of questioning about the failure from Geoffrey Aloysius, the magistrate suggested taking it up when he appears in court on the next date.   


SDSG Jayasundara also mentioned the acquiring of some essential data (swift message copies) stored in the PTL server (computer system).   


She said when investigators attempted to enter the server with the assistance of an employee of PTL, who was said to have had the system’s username and password, entry to the system was not possible. SDSG said it was found that there was another protected password at the entry stage to the system.   


However, it was revealed that PTL’s former IT head Sachith Devathantri, who gave evidence at the bond commission against the PTL, was aware of that password. Therefore, acceding to the prosecution’s request, the magistrate ordered Devathantri and the PTL Chairman to assist the CID to acquire the required details from the server in the presence of legal representation, if necessary.   


At the end of the inquiry, President’s Counsel Kalinga Indatissa questioned the prosecution on the progress of the investigation during the past two weeks as the further reports filed recently had nothing to do with the main inquiry.   
SDSG Jayasundara responded saying it was a complex and broad investigation in which the prosecution was checking on other potential wrongdoings committed by the suspects under the Registered Stock and Securities Ordinance.   


She explained that the prosecution was also perusing some 10,000 cheques in expectation of uncovering the PTL’s money trading patterns, which was not an easy task by any means.   


During her submission, she said the CID had recorded another statement from a person called Amal Ravindranath who confirmed the earlier revelation of Rs.3 million worth of cheques received by an MP (Sujeewa Senasinghe) from W.M. Mendis & Company.   


The magistrate directed the prosecution to expedite the inquiry and re-remanded Arjun Aloysius and Kasun Palisena till July 5, 2018.   

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