Sri Lanka central bank extends suspension on Perpetual Treasuries

ECONOMYNEXT- The suspension of business of controversial primary dealer Perpetual Treasuries Limited has been extended another six months, the Central Bank said on Friday.

The central bank said that it extended the suspension starting from July 05 under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, in order to continue investigations into the country’s largest ever securities scam.
 
Perpetual Treasuries Limited is connected to Arjun Aloysius, who is the son-in-law of former Central Bank Governor Arjuna Mahendran. 
 
The Attorney General in June filed indictments against Aloysius, Mahendran and eight others at a Permanent High Court Trial-at-Bar.
 
The central bank in June said that six forensic audits are underway into the scam and possible earlier scams. The audits are expected to finish before the end of the year, the central bank had said. (Colombo/Jul05/2019)