Wednesday, 06 July 2016 06:50

I was only involved in professional work: CB Governor

Central Bank Governor Indrajit Coomaraswamy said that he only served as a consultant to Raj Rajaratnam, the hedge-fund tycoon and Galleon Group LLC co-founder in the US for 11 months.

Rajaratnam at the center of a US insider-trading crackdown was found guilty on all 14 counts against him in the largest illegal stock-tipping case in a generation.

Governor Coomaraswamy said that he has been a good friend of Rajaratnam for a long time and when Rajaratnam wanted help he just provided him with research reports. “That was my job,” he said at this first press conference yesterday.

“I quit almost a year before he was first accused of insider trading.”

Asked to comment on the Sri Lankan Central Bank Bond issue, he said that the Central Bank would co-operate with the investigation by the Committee On Public Enterprises (COPE).

“The Central Bank will co-operate with a probe started by a Parliamentary committee on controversial bond issues in the recent past,”Dr. Coomaraswamy said.

Coomaraswamy said he would wait for the result from the Parliamentary Committee on COPE, before taking action against anyone inside the bank.

“Parliament has the highest degree of sovereignty.COPE is a group of Parliamentarians,” he said.

(Daily news)

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