A mega leak in Peoples bank

It is reported that Peoples bank had committed financial fraud, failure to pay debts and corruptions worth 40,630 Million Rupees.

This has been revealed by the COPE report presented to the parliament on the 25th October 2012.

Peoples bank is one of the 2 biggest commercial banks belonging to the state and a lot of money of the common public is invested in it.

And out of these deposits, nearly 52 businessmen have obtained 31380 Million Rupees as loans and have failed to repay them.

And the amount of money due is over 6350 Million Rupees.

And also 29 people who had obtained loans from the bank have made the bank loose 1,178,224,427 Rupees and more 109 debtors have failed to pay the bank 5,877,812,467 Rupees.

117,100,000 Rupees is owed from the bankrupted Ceylinco group of companies.

And also 290 Million Rupees have been lost by purchasing shares of the Sri Lankan Air Lines.

And his has only been revealed regarding Peoples bank.

The COPE report has not revealed anything about the BOC and NSB.

This bank belongs to the finance ministry and the President himself is the subject minister.

Source : Srilankamirror