Investigations to commence on the Rs 17.5 billion fraud at People's Bank

Investigations to commence on the Rs 17.5 billion fraud at People's Bank

The members of the Cope committee are to summon those alleged to have involved in a fraud  amounting to a sum  of  Rs 1,750 during a transaction that had taken place in regard to digitization on the Peoples bank.They intent to

question those suspected in  this fraud. They are supposed to be called on the 22nd instant for obtaining statements.

It is reported that a transaction that  a sum of Rs 500 million has already been spent excessively  while the total cost estimated to have been Rs 1750. million.This amount had been spent without summarizing the cost of the project  has been the view of the Chairman of the Cope Committee. Member of Parliament  of the Janatha Vimukthi Peramuna Sunil Handunnetti.

It has been reported that instead of the required tender procedure one individual has been entrusted with  the entire exercise of digitization of the bank.In this regard the Chairman of the Cope committee intends to question those who have been involved in this matter.

The Chairman of the Cope committee Sunil Handunnetti had stated that the deposits at People's bank are held by over one hundred thousand constituents living island wide..In the interest of all of them the bank need to be protected and in the near future the details of this alleged fraud would be surfaced to the public.