Arjuna Mahendran the alleged rogue Governor of the Central Bank who was hand picked for the job by Sri Lanka Prime Minister Ranil Wickremesinghe, failed to report to the CID as instructed by Courts. His time ran out on the 15th of February 2018. On the 14th of February 2018 he was alleged to have been seen at the departure lounge at Singapore Airport. Sources indicate that Mahendran was en-route to the United Kingdom via Dubai.
Strangely the Attorney General’s department requested Court on the 16th February to give Mahendran time until 8th of March 2018 to report to the CID and make his statement.
Inside sources indicated that there is a move to persuade Mahendran to turn State Wittness in exchange for a lighter sentence, fine and immediate bail – in exchange for a full and frank disclosure on exactly what happened during the currency of the greatest fraud inflicted on Sri Lanka since independence.
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Mahendran according to court still maintains a home in Singapore – one of the handful of those with Sri Lanka connections to actually own a home (as opposed to an apartment) in Singapore where property prices are amongst the highest in the world.
It has been estimated that the bondgate scam will cost Sri Lanka in excess of Rs 600 Billion over the next fifteen years. The Prime Minister and his confidante Malik Samarawickreme both confirmed that there was a sum of approximately Rs 12 Billion (USD 77 Million) being held by the Central Bank on account of Perpetual Treasuries, whose ultimate ownership included the former Governor’s son in law.
Others claim that Perpetual made far more than that and the figures in the press relate to nett profits whilst several billions more had already been siphoned out. Another company within the Aloysious stable Mendis & Co is reportedly faltering thanks to huge loans and unpaid excise duties.
It is also alleged that the family and associates own a financial services firm in Singapore known as Religare Financial Services where yet another member of the family also works.
