- Written by Sunil Gamini Jayalathge
(Lanka-e-News -28.Feb.2025, 11.30 PM) Singaporean authorities have informed the Sri Lankan government that Arjuna Mahendran, implicated in the 2015 bond scam that caused a loss of Rs. 10 billion to the state, cannot be extradited to Sri Lanka under their legal system.
This decision presents a new challenge to the current government’s efforts to investigate the bond scam. However, Cabinet Spokesman Nalinda Jayatissa recently stated that the case could proceed even without Arjuna Mahendran’s presence.
Arjuna Mahendran, of Sri Lankan origin but a Singaporean national, was appointed as the Governor of the Central Bank of Sri Lanka at the personal request of then-Prime Minister Ranil Wickremesinghe during the Yahapalana government.
There was significant opposition to this appointment even within the Yahapalana administration.
It was the Attorney General’s Department of Sri Lanka that formally requested Singapore to extradite Arjuna Mahendran in connection with the bond scam.
Meanwhile, last year, the Colombo Magistrate’s Court issued a notice summoning Arjuna Mahendran to appear before the court on February 25, 2025, regarding a case filed by the Commission to Investigate Allegations of Bribery or Corruption.
A permanent three-member High Court panel in Colombo has already issued an Interpol warrant for the arrest of former Central Bank Governor Arjuna Mahendran over the bond scam.
Perpetual Treasuries Ltd., owned by Arjuna Aloysius—Mahendran’s nephew and a primary dealer in the bond market—was the main beneficiary of the bond issuance.
Additionally, in a separate fraud case, Anuradhapura Chief Magistrate and Additional District Judge Nalaka Sanjeewa Jayasuriya has ordered that the case against Arjuna Aloysius, related to the misappropriation of Rs. 510 million through Mendis & Co. Ltd., be recalled on June 23.
This case involves the large-scale purchase of maize by Aloysius, followed by non-payment, amounting to financial fraud.
Ranil’s so-called "elephantine friend," along with his nephew, are both large-scale fraudsters and looters. This confirms that Ranil is the leader of Sri Lanka’s corrupt capitalist elite.
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by (2025-02-28 18:59:07)
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