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* Sri Lanka court names former Central Bank Governor, son-in-law, suspects of Bond investigations
Fri, Feb 2, 2018, 08:18 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 02, Colombo: The former Central Bank Governor Arjuna Mahendran along with his son-in-law, Perpetual Treasuries Limited (PTL) Director Arjun Aloysius and PTL CEO Kasun Palisena were named in court today as suspects in the treasury bond scam.

Colombo Fort Magistrate Lanka Jayaratne named the three as suspects according to a report filed by the Criminal Investigation Department (CID).

Former Central Bank Governor Arjuna Mahendran and his son-in-law Arjun Aloysius are accused of manipulating of bond auctions in 2015 and 2016, causing losses of over $11 million to the state.

Mahendran, a Singapore citizen of Sri Lankan origin is in Singapore and was not present in the court today.

The Magistrate ordered Mahendran to return to island and give and appear before the CID to record a statement before February 15 and ordered the CID to inform the suspect.

The Additional Solicitor General, Yasantha Kodagoda, representing the Attorney General's Department, also submitted the report of the Presidential Commission on the bond scam.

According to the report of the Presidential Commission of Inquiry into the Bond Issuance of the Central Bank PTL, a primary dealer, has made an undue profit of Rs 11.145 billion causing losses of Rs 8.524 billion to the government.

 

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