US$2.5 Million Fraud: No Report Submitted to Parliament Even After Eight Months

16-Jun-2026

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The Joint Presidents of the Independent Lawyers’ Association, President’s Counsel Maithri Gunaratne and former Governor Keerthi Tennakoon, have criticised the failure to publicly release an official report on the alleged fraud involving US$2.5 million paid by the Treasury to a foreign creditor and subsequently misappropriated by a third party.

In a joint statement, they noted that eight months have passed since the incident occurred, yet Parliament has failed to present an official report to the public.

They argued that repeated extensions granted to the Treasury by the Committee on Public Finance have merely prolonged the process and created opportunities for delays and concealment.

The statement further claimed that institutional disagreements between the Treasury and the Central Bank have intensified and called for greater accountability from both institutions.

The association also expressed concern over weaknesses within the Ministry of Finance and Treasury, recommending the immediate appointment of a highly experienced senior public administrator as Secretary to the Ministry of Finance.

The statement maintained that neither the Treasury nor the Central Bank should be allowed to evade responsibility and emphasised that public funds and national assets must be protected through full transparency and accountability.