SEC Director Chandu Epitawela to be summoned before Bribery Commission

Sunday, 02 September 2012
SECs controversial director surveillance Chandu Epitawela is to be summoned by the bribery commission on corruption charges concerning his insolvent in setting up a stock broking company while working at the SEC

In 2010 Epitawela persuaded the chairman to visit Japan with his Japanese friend on an official visit promoting the stock market. They enjoyed all the hospitality of the Japanese friend named Takashi. On their return Thakashi and chandu opened a company. Since epitawela could not officially be in the company he nominated his good friend one Saparamadu as his nominee of this company. Thru this company with epitawelas help they applied for a stock broking company licence with epitawelas cousin Boyagoda as his front. Chandu wanted to be CEO of this company and wanted 50% stake without infusing a single cent as equity. The Japanese refused and lines were drawn the Marriage broke down. The Japanese gave 10% to Boyagoda as he was the local agent with capital infused.

Epitawela is now harassing this stock broking company with surveillance issues that do not exist.

Epitawela used his office to get this license for him indirectly which is a huge conflict of interest.

An official complaint was lodged to the Acct. Director General Bandara and no action has being taken. It is believed that Bandara too will be summoned by the Bribery commission for not taking action which tantamounts to corruption.