“economic terrorism germinates armed terrorism”
Colombo, Sri Lanka (PRWEB) July 20, 2011
In his new books, Nihal Sri Ameresekere, FCA, FCMA, CMA, CFE, advocates that ‘economic terrorism germinates armed terrorism’.
In Fiscal Mismanagement & Lack of Public Accountability - Case Study - Sri Lanka, a Country under the Purview of IMF, World Bank, ADB – he reveals that the Government of Prime Minister, Ranil Wickremesinghe, Vice-Chairman, International Democrat Union, enacted an ‘amnesty’ violative of UN Security Council Resolution on Terrorism Financing. Supreme Court of Sri Lanka (highest judiciary) in SC Reference No. 1/2004 condemned it, as ‘inimical to the rule of law’, ‘violative of the Universal Declaration of Human Rights and International Covenant on Civil & Political Rights’, and that ‘it had defrauded public revenue, causing extensive loss to the State’. The Government was thrown out of Office, and the amnesty repealed. He reveals how the amnesty was to write-off reckoned revenues of US $ 2,000 million, whilst the Sri Lanka Aid Group had pledged Loans of US $ 4,000 million. In another instance, the Supreme Court of Sri Lanka (highest judiciary) in SC (SD) Application No. 3/2008 castigated the Appropriation Bill, as a ‘Budget within a Budget’ exposing a ‘slush fund’ in operation.
In Derivative / Hedging Deals by Citibank, USA, Standard Chartered Bank, UK, Deutsche Bank, Germany, with Sri Lanka Government's Petroleum Corporation - Dubious & Illegal ? – he demonstrates the true nature of these transactions, with alleged claims of around US $ 800 million. Such transactions shook international financials centres, with Governments bailing out with ‘stimulus packages’. He reveals that these deals were tainted with corruption, with moral, ethical and legal issues. The Supreme Court of Sri Lanka (highest judiciary) in SC (FR) Applications No. 535 & 536 / 2008 issued restraining Orders and directed investigations to be carried out; however the Petitioners thereafter withdrew these Cases. He discloses the unequal treatment before the law, raising issues of contempt of court and judicial bias; revealing that Governments, whilst standing up to international community, were unable to act likewise with resourceful Banks.
In Colombo Hilton Hotel Construction - Fraud on Sri Lanka Government - Sri Lanka's First Derivative Action in Law, reported in the Commonwealth (Commercial) Law Reports (1992 CLR @ Page 637 / SC Appeal Nos. 33 & 34 / 1992) – he reveals how a fraud had been perpetrated on the Government by Japanese multi-nationals Mitsui & Taisei, with involvement of Yozo Shibata Associates, Architects, whilst KPMG Ford Rhodes Thornton & Co., had been consequently removed as Auditors. The Japanese multi-nationals as a result had written-off US $ 207 million on their claims on government guarantees. He successfully prosecuted this Case, naming K.N. Choksy, President’s Counsel, a confidante of Sri Lanka President, R. Premadasa, as one of the Defendants.
In adopting the UN Convention Against Corruption, by General Assembly Resolution 28/4 of October 31, 2003, Secretary-General, Kofi Annan in the Foreword to the resolution stated thus: “Corruption is an insidious plague that has a wide range of corrosive effects on societies. It undermines democracy and the rule of law, leads to violations of human rights, distorts markets, erodes the quality of life and allows organized crime, terrorism and other threats to human society flourish….Corruption hurts the poor disproportionately by diverting funds intended for development, undermining a Government’s ability to provide basic services, feeding inequality and injustice, and discouraging foreign investment and aid.” (http://www.unodc.org/unodc/en/treaties/CAC/index.html)
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