The Securities and Exchange Commission (SEC) this week further grilled some senior employees at Taprobane Securities, the firm which brokered the controversial National Savings Bank (NSB) - The Finance Company (TFC) deal, informed sources said.
"The SEC questioned them till late afternoon on Wednesday," a source close to the investigators told the Business Times. He said that this has been ongoing most of this week and SEC has recorded statements from those who were questioned.
He said that the SEC is probing the role played by Taprobane Securities CEO Dinal Wijemanne who was involved, in many ways as the seller of a large stake of TFC to NSB while his firm was both the buying and selling broker. The NSB board including its chairman Pradeepa Kariyawasam resigned over the flawed deal early last month.
The SEC issued a Directive dated 23rd May 2012 to the Chairman and Board of Directors of Taprobane Securities to suspend
Mr. Wijemanne has been suspended by the SEC from functioning as a broker or in any other capacity.
The source said that cases of suspected market malpractices which include insider dealing, front running and price manipulations are also being investigated by SEC. |
E-mail
