Perpetual CEO admits Aloysius lied to COPE

Testifying before the Presidential Commission of Inquiry, probing the alleged bond scams, Chief Executive Officer of Perpetual Treasuries Ltd, Kasun Palisena, yesterday admitted under cross examination of Commission member, Supreme Court Justice Prasanna S. Jayawardena that the owner of PTL, Arjun Aloysius, had lied to the Committee on Public Enterprises (COPE).

Palisena paused before giving the answer and Commission Chairman Supreme Court Justice K.T. Chithrasiri made special mention about it.

Deputy Solicitor General Milinda Gunatillake continued examining Palisena based on Aloysiu’s statements made to the COPE.

Aloysius told the COPE that he had withdrawn from the affairs of Perpetual Treasuries as he believed there was a conflict of interest after the appointment of his father-in-law, Arjuna Mahendran,as the Governor of the Central Bank. He had resigned from the office of Chief Executive Officer of the company, Aloysius told the COPE.

Deputy Solicitor General asked Palisena to read the statement Aloysius had made to the COPE and after the latter had completed reading it Gunatillake questioned Palisena on the veracity of Aloysius’ statement.

Palisena said Aloysius had continued to involve himself in the operations of Perpetual Treasuries occasionally even after relinquishing his duties as the CEO.

DSG Gunatillake contradicting Palisena’s answer said that Aloysius engaged himself fully in the operations of PTL,though he had resigned from the office of CEO.

When the Deputy Solicitor General told Palisena that Aloysius had lied to the COPE, Palisena said that he couldn’t provide a proper answer to the question.

Subsequently, the Commission Chairman Justice K.T. Chithrasiri said that PTL acting on the advice of Arjun Aloysius had made billions of rupees in profits.

Thereafter, Palisena accepted the fact that Aloysius had lied to the COPE when questioned by commission member Justice Prasanna Jayawardena.