Republic Next Logo

PTL Directors remanded

Chairman of PTL, top executives and Central Bank Deputy Governor go behind bars

PTL Chairman Geoffrey Aloysius being led to the Prisons van Monday/Ashan Fernando

The Chief Magistrate in Colombo Fort has remanded the Chairman of Perpetual Treasuries Ltd., Geoffrey Aloysius in connection with their investigations into the alleged Bonds Scam. until April 5.

Along with Aloysius a deputy governor of the central bank and directors of PTL a dealer in government securities linked to the biggest securities scam in the island were also remanded.

Retired Deputy Governor Pathinige Samarasiri, directors of Perpetual Treasuries Chithra Ranjan Hulugalle, Pasumithra Gunewardene and Muthuraja Surendran were arrested by the criminal investigation department, police spokesman Ruwan Gunaskera said.

Perpetual Treasuries was involved in securities scams involving bidding at rigged bond auctions, where larger than announced volumes were sold when Arjuna Mahendran, the father of Perpetual Treasuries chief Arjun Aloysius was the governor of the central bank.

Deputy Governor Samarasiri was in charge of debt sales in 2015 and 2016 when the scams took place.