PTL paid Rs. 3.2 m credit card bill of former CB Chief Mahendran

The Colombo Fort Magistrate Court yesterday further remanded Perpetual Treasuries Ltd. (PTL) Director Arjun Aloysius and CEO Kasun Palisena, who are in remand custody over the bond scam charges, until 21 June.

When the Central Bank bond scam case was taken up for hearing before Fort Magistrate Lanka Jayaratne, the Attorney General’s Department informed the court that W. M. Mendis & Company Ltd., a subsidiary of the PTL Group, had paid former Central Bank Governor Arjuna Mahendran’s credit card expenses amounting to Rs. 3.2 million.

Additional Solicitor General Yasantha Kodagoda appearing for the Attorney General informed the Court that in addition, the State Minister had received three checks for Rs. 3 million on three occasions from W. M. Mendis & Company for election campaigning.

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

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