Sri Lanka bondscam suspects from Perpetual Treasuries released on bail

ECONOMYNEXT – Key suspects in Sri Lanka’s biggest securities scam involving rigged bond auctions and dumping securities on pension fund managed by the central bank at high prices have been bailed out after being remand for over 10 months, a media report said.

Arjun Aloysius and Kasun Palisena of Perpetual Treasuries was given bail by Colombo Chief Magistrate Lanka Jayaratne Sri Lanka’s Daily Mirror newspapers said.

A magisterial inquiry has been underway for over 10 months, and a key suspect, then Central Bank Governor Arjuna Mahendran, Aloysius’s father-in-law had not yet been arrested.

Court was also told that Aloysius’s wife had given birth to a premature son, and his wife was suffering
from posta-natal depression.

The magistrate had also considered whether there was an ‘oppressive delay’ in the inquiry, the report said. (Colombo/Jan02/2018)

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