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Sri Lanka Equity Forum » Stock Market Talk » NDB chief financial officer suspended for whistle blowing Featured

NDB chief financial officer suspended for whistle blowing Featured

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Quibit

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Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The Banking and Non Banking sector is reeling after the Secretively shocking suspension of the Chief Financial Officer Fizan Osman of NDB for exposing a racket of the bank’s conduct at the highest levels. 

It is over the sale of certain Bank stocks in collusion with a Chairman of a Bank, a key investor and a Chief Executive Officer. 
 
The Unions allege the Board is like a post box and don't know what is going on. Most Directors’ are cronies of the former regime helped on by the current regime. 
 
Union’s allege a bribe was paid by the bank to buy shares of another bank. The Chief Financial Officer has been suspended for blowing the whistle too late. 
 
Recently Ranil’s first cousin a Banker who had to leave Grindlay’s Bank in a hurry Mr. Athukorala was appointed Chairman of the Bank. A parachute according the Union and they accuse him of being totally ineffective, only interested in his perks and his car. 
 
The Bank slipped even below the Boutique Bank NDB in their performance. The former CEO of the Bank deserted the Bank with his key officials to Cargill’s bank. We are exposing this sorry story of white collar crime in the despositor's intrest. 



http://lankanewsweb.net/news/special-news/item/5909-ndb-chief-financial-officer-suspended-for-whistle-blowing

kovida

avatar
Manager - Equity Analytics
Manager - Equity Analytics
@Quibit wrote:The Banking and Non Banking sector is reeling after the Secretively shocking suspension of the Chief Financial Officer Fizan Osman of NDB for exposing a racket of the bank’s conduct at the highest levels. 

It is over the sale of certain Bank stocks in collusion with a Chairman of a Bank, a key investor and a Chief Executive Officer. 
 
The Unions allege the Board is like a post box and don't know what is going on. Most Directors’ are cronies of the former regime helped on by the current regime. 
 
Union’s allege a bribe was paid by the bank to buy shares of another bank. The Chief Financial Officer has been suspended for blowing the whistle too late. 
 
Recently Ranil’s first cousin a Banker who had to leave Grindlay’s Bank in a hurry Mr. Athukorala was appointed Chairman of the Bank. A parachute according the Union and they accuse him of being totally ineffective, only interested in his perks and his car. 
 
The Bank slipped even below the Boutique Bank NDB in their performance. The former CEO of the Bank deserted the Bank with his key officials to Cargill’s bank. We are exposing this sorry story of white collar crime in the despositor's intrest. 



http://lankanewsweb.net/news/special-news/item/5909-ndb-chief-financial-officer-suspended-for-whistle-blowing
Truth and Authticity of this sort of news items  are to be verified independantly. Has been extracted from pro JO web  and could be politically motivated. Even if true,it is  just a minor incident compared to last regimes malpractices and corrupt activities that had  taken place in the corporate sector.

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
News highlighted in many web sites controlled by political parties do not produce the truth. If the news lie in reliable category there could be a positive reaction from local investors on coming trading day. 
No wonder that the rate at which malpractices have been incurring NDB event might be minor one.

kovida

avatar
Manager - Equity Analytics
Manager - Equity Analytics
@worthiness wrote:News highlighted in many web sites controlled by political parties do not produce the truth. If the news lie in reliable category there could be a positive reaction from local investors on coming trading day. 
No wonder that the rate at which malpractices have been incurring NDB event might be minor one.
Today NDB qty traded was 238,000 . Were the buyers not known if any negative news that was posted in the above web . ? . No that is not the case. Some so called senior figuers of this forum need to bring any kind of news item and show an unexpected bad  effect on them to the mkt . 

Be vigilant

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