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Treasury bond scams: Sixth Forensic Audit yet to be commissioned

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… CBSL awaiting AG’s advice to finalize procurement process; five reports cost taxpayers Rs 275 mn

By Shamindra Ferdinando

Many an eyebrow has been raised over the inordinate delay in carrying out the recommendations made by the Presidential Commission of Inquiry that probed the Treasury bond scams perpetrated in 2015 and 2016.

Of the six forensic audits called by the PCoI, the sixth one hasn’t been commissioned yet. The PCoI handed over its report to the then President Maithripala Sirisena in Dec 2017.

The Island

 recently sought an explanation from the CBSL as regards the forensic audit yet to be commissioned; its Communications Department said that the procurement process for selecting a suitable auditor was continuing. It said the CBSL was awaiting the Attorney General’s advice with regard to certain clarifications to bring the procurement process to a successful conclusion.

Asked what would be the total expenditure of all six forensic audit reports, the spokesperson said that the five reports received so far had cost Rs. 275 mn. The five reports were received by Parliament during the previous administration.

Asked whether the CBSL had taken action on the reports received so far, the spokesperson said that the Monetary Board had appointed a Task Force to facilitate and oversee implementation of the recommendations made in forensic audits received so far. “Copies of five Forensic Audit Reports were submitted to the Attorney General to enable them use relevant information in the relevant court cases. Copies of the five forensic audit reports were also submitted to the Auditor General.”

The Island 

asked whether CIABOC (the Commission to Investigate Allegations of Bribery or Corruption) had sought information on Treasury Bond scams from the CBSL, the spokesperson said: “Yes, copies of the forensic audit reports as per the request of the Director General of CIABOC have been provided to CIABOC.”

Recently, President Gotabaya Rajapaksa appointed new Commissioners to the CIABOC in terms of the 20th Amendment to the Constitution. The Commission comprises retired Supreme Court Justice Eva Wanasundera, retired Appeals Court Justice Deepali Wijesundera and retired DIG Chandra Wakista. Justice Wanasundera is also a veteran of the AG’s Department prior to being appointed to the Supreme Court.

Former COPR Chairman D. E. W Gunasekera told The Island that the failure on the part of Parliament to pursue the Treasury bond scams was unacceptable. The former minister pointed out that Parliament hadn’t at least debated the PCoI report which it received in early 2018.

 

 



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Sri Lanka Coast Guard commence clearing of oil spill in Maduru Oya Reservoir

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The Sri Lanka Coast Guard launched an operation to clear the oil spill  caused by the crash of a Sri Lanka Air Force Bell 212 helicopter into the Maduru Oya Reservoir, during a training flight on 09 May 2025.

The  efforts to clear the oil spill  are ongoing and will continue today, 10 May.

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Maduru Oya helicopter crash: Army, Air Force launch probes

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Rescue teams searching for the missing military personnel after yesterday’s SLAF chopper crash in the Maduru Oya. (Image courtesy Derana)

Bell 212 accident during passing out parade kills six military personnel, injures six others

A Bell 212 helicopter, belonging to the Sri Lanka Air Force (SLAF), crashed into the Maduru Oya reservoir yesterday morning, killing six forces personnel and injuring six others. The helicopter was on a routine mission in support of a Special Forces passing-out parade when it encountered technical difficulties and attempted an emergency landing.

The crash occurred at approximately 8:17 a.m., after the helicopter took off from the SLAF Base Hingurakgoda, at 6:47 a.m., and picked up Army personnel in Maduru Oya around 7:08 a.m. According to the SLAF, the aircraft was conducting a heli-rappelling drill as part of a military demonstration when it suffered a technical malfunction shortly after takeoff.

The aircraft was carrying 12 individuals—six from the Army and six from the Air Force, including two pilots. Initial rescue efforts led to all passengers being retrieved alive and transported to the Aralaganwila Regional Hospital, with eight later transferred to the Polonnaruwa General Hospital due to the severity of their injuries.

Despite emergency medical care, six of the personnel succumbed to their injuries—four Army Special Forces soldiers and two Air Force members. Among the deceased were helicopter gunmen and elite Special Forces troops.

In the wake of the tragedy, both the Army and Air Force have launched separate investigations to determine the cause of the crash. Air Force Commander Air Marshal Bandu Edirisinghe has appointed a nine-member inquiry committee, while Army Commander Lieutenant General Lasantha Rodrigo confirmed that expert teams have been dispatched to the crash site to gather evidence.

Air Force spokesperson Group Captain Eranda Geeganage said the crash occurred during a drill demonstration at the training school and that the exact cause of the accident remains unknown at this time.The remaining six injured personnel are still receiving treatment, with their conditions being closely monitored.

 By Norman Palihawadane

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Cardinal Prevost becomes Pope Leo XIV

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Pope Leo XIV

Nearly half a century has passed since the Catholic Church last had an Italian Pope. In the hallowed corridors of the Vatican, as the Conclave began deliberations to elect a successor to Pope Francis, several Italian names were whispered with increasing frequency. Chief among them was Cardinal Pietro Parolin, the Vatican’s Secretary of State, a seasoned diplomat, and well-known among the electors. Others, like Cardinals Pierbattista Pizzaballa and Matteo Zuppi, also had their share of admirers.

Yet, when the white smoke rose above the Sistine Chapel, it was not an Italian who emerged. Instead, the Cardinals turned to an unheralded American – Robert Francis Prevost, a canon law professor and lifelong missionary – electing him as successor to St. Peter. He has taken the name Pope Leo XIV.

Though born in the United States, Pope Leo’s spiritual and pastoral heart lies in Peru, where he spent much of his life in missionary service. His elevation comes as a surprise to many as he had been made a Cardinal just two years earlier, appointed by Pope Francis himself. A relative newcomer in the College of Cardinals, he was seen by many as a wildcard – yet perhaps that’s exactly what the Church needed.

At 69, Pope Leo is poised for what could be a lengthy pontificate – time enough, perhaps, to carry forward the reforms initiated by his predecessor. It’s no secret that Pope Francis saw in him a leader fit for the challenges of global Catholicism. When Prevost returned from Peru to head the Augustinian Order – a role he held for 12 years – it was Francis who sent him back across continents, appointing him Bishop of Chiclayo and entrusting him with pastoral care once more in Peru.

Those close to the new Pontiff describe him as deeply spiritual, a steady hand, and a bridge-builder, qualities sorely needed in a Church increasingly split between traditionalists and reformists. He is expected to offer a more measured, balanced approach on key issues, fostering dialogue rather than division.

In many ways, this Conclave echoed the dramatic scenes of October 1978, when an unknown outsider from Poland – Karol Wojtyla – was chosen as Pope John Paul II. Like then, the Cardinals have once again looked beyond the obvious front-runners. But, unlike 1978, when it took eight ballots to break the deadlock and settle on a compromise, this time it took just four.

That speed speaks volumes. The Cardinals were not merely settling – they were convinced that here’s the man to take the Church forward. In Cardinal Prevost, they found a shepherd capable of steering the Church through a time of transition, someone who could temper Franciscan reform with pastoral wisdom and unite a divided flock under the banner of faith and humility.

By Rex Clementine

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