20 October, 2018

Blog

Arjuna Mahendran Set To Abscond

Former Central Bank Governor and the man at the centre of the bank’s bond issue scandal, Arjuna Mahendran, is “not willing to come to Sri Lanka,” a source close to Mahendran told Colombo Telegraph.

Mahendran

Mahendran, a Sri Lanka born Singaporean national and a close friend and official ‘advisor’ to Prime Minister Ranil Wickremesinghe, was found to be guilty of wrongdoing by the Committee of Inquiry (CoI) appointed by President Maithripala Sirisena to investigate allegations regarding the issue of bonds in early 2015.

The CoI has recommended that the Attorney General initiate formal legal proceedings against those at fault and move to recover from Mahendran’s son-in-law Arjun Aloysius the over 11 billion rupees loss incurred by state agencies including the Employees Provident Fund and the Development Lotteries Board.

Perpetual Treasuries, with which Aloysius is associated, made several billion rupees in the transactions that came under investigation.

The Prime Minister, who during his previous tenure in the office appointed Mahendran as the Chairman, Bureau of Investment, offered the Governor’s post after the change of government in January 2015. Party seniors are reported to have objected strongly to this appointment expressing concerns over his nationality. Wickremesinghe however ignored concerns and warnings. After Mahendran quit the post, Wickremesinghe re-employed him as an Advisor.

It remains to be seen what kind of action is taken to bring the errant former Governor before the law, considering his expressed unwillingness to return to Sri Lanka.

Print Friendly, PDF & Email

Latest comments

  • 0
    0

    This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2/

  • 0
    0

    This comment was removed by a moderator because it didn’t abide by our Comment policy.For more detail see our Comment policy https://www.colombotelegraph.com/index.php/comments-policy-2/

  • 0
    0

    if Mahendran does not come, it is the doom of Ranil.

  • 1
    0

    mahendran and ranil and bloody roughs

    • 0
      0

      Both are F.R.C.S Qualified (Former Royal College Students). How about R.K.? Sorry, if don’t know who he is. Who is A.M? Must be Must be Angelo Mathew. How about that?

  • 0
    0

    Don’t blame the bullet catch the person who fired it.

Leave A Comment

Comments should not exceed 300 words. Embedding external links and writing in capital letters are discouraged. Commenting is automatically shut off on articles after 10 days and approval may take up to 24 hours. Please read our Comments Policy for further details. Your email address will not be published.