Arjun, Palisena further remanded until 10 May

The Colombo Fort Magistrate Court yesterday refused bail for Perpetual Treasuries Limited director Arjun Aloysius and CEO Kasun Palisena, who are in remand custody over the bond scam charges.

The Fort Magistrate refusing the bail request ordered to further remand the suspects until May 10.

Arjun Aloysius, the son-in-law of former Central Bank Governor Arjun Mahendran and Kasun Palisena were arrested on 4 February 2018.

Arjuna Mahendran and Arjun Aloysius are accused of manipulating bond auctions in 2015 and 2016, causing losses of over $11 million to the state.