Singapore declines to extradite Arjuna Mahendran implicated in bond scam

27 February 2025 09:47 am Views - {{hitsCtrl.values.hits}} 72 Bookmark

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Colombo, Feb 27 (Daily Mirror) - The Singaporean authorities have cited inability to extradite former Central Bank Governor Arjun Mahendran to Sri Lanka in terms of the legal system of that country, posing a fresh challenge for the government in its attempt to investigate the bond scam which caused a loss of Rs.10 billion in 2015, Daily Mirror learns.

The Sri Lankan Attorney Generals Department sought the extradition of Mr. Mahendran who is implicated in the bond fraud that took place under the Yahapalana government. Mr. Mahendran, a Singaporean of Sri Lankan origin, was appointed Central Bank Governor at that time.

Last year, the Colombo Magistrate’s Court noticed him to appear before the court on February 25, 2025 over a case filed by the Bribery Commission.

The Colombo Permanent Trial-at-Bar bench has already issued a warrant through Interpol for the arrest of former Central Bank Governor Arjuna Mahendran in connection with the Central Bank bond scam

The case has been filed over the alleged misappropriation of bonds causing a loss of over Rs. 10 billion to the government of Sri Lanka in 2015.

President Anura Kumara Dissanayake, in the run up to the presidential elections last year, vowed to bring him back to Sri Lanka. He even said it would be a priority of his government. After the presidential election, then Cabinet spokesman Foreign Affairs Minister Vijitha Herath announced that the Public Security Ministry had commenced legal investigations into the bond fraud, taking into account the findings of the Presidential Commission of Inquiry and the Parliamentary Select Committee.

The Central Bank bond scam, which occurred on February 27, 2015. The scam involved the issuance of government bonds by the Central Bank under the leadership of Mr. Mahendran as the governor.

Perpetual Treasuries Limited, a primary dealer in the bond market and owned by Mahendran’s son-in-law Arjun Aloysius, was a major beneficiary of the bond issuance.

A top source said that the legal authorities of Singapore had informed their Sri Lankan counterpart that Mr. Mahendran could not be extradited according to the law of that country.

The Commonwealth Schemes provide for extradition of fugitive criminals between Sri Lanka and Singapore as commonwealth countries.

Comments - 72

Maalumama Thursday, 27 February 2025 10:00 AM

Many of the promises given by the incumbent government remain unfulfilled. Wasting time on these issues which are beyond the control of Sri Lankan authorities is unfair by the people. NPP please address issues concerning cost of living, health, education and public security. These are issues which are burdening the ordinary people every day. Please do properly prioritise country's requirements, not the requirements of inexperienced individuals.

69 96

People1 Thursday, 27 February 2025 08:36 PM

Yes,we agreed and wasting time on this person.There are many thing to be solved/attend to.

87 17

VRAJ Thursday, 27 February 2025 08:54 PM

SP HAS TAKNE SL MODEL.

0 6

Michael Friday, 28 February 2025 04:34 AM

The next best option is to arrest his accomplices starting from RW and his son and other relatives who benefited from these fraud.

1 6

Roshanaly Thursday, 27 February 2025 10:01 AM

Now, what can AKD do. We have to stop blaming AKD. Sajith and his Party should be blamed for supporting and allowing a foreigner to be appointed a CB governor during RW rule.

50 111

wsw Thursday, 27 February 2025 01:12 PM

I agree, these Yahapalana politicos in the pretext of undoing the Rajapaksa corruption activities, only made matters worse with almost a very similar if not worst style of governance. They should be compelled to face the heat, not the current mob who are at least trying hard despite their obvious limitations.

15 45

Johan Friday, 28 February 2025 01:29 AM

Where ever RW is there rule of will be zero

0 0

L.A.BUDDHADASA Thursday, 27 February 2025 03:35 PM

The first governor of the CB was a foreigner. There is no law against it. The current CEO of Srilankan is also a foreigner.

12 30

gamini Thursday, 27 February 2025 05:17 PM

We also had a President and Finance Minister who were foreigners

0 24

TC Thursday, 27 February 2025 09:43 PM

@ Roshanaly - your stupidity is beyond comprehension!! Do you have anything at all between your ears??

4 10

Smiling Son Friday, 28 February 2025 05:41 AM

Ane paw AKD, sahotharaya meka danaghitiye naa ne

0 0

This is reality Thursday, 27 February 2025 10:04 AM

Two typical examples come to mind. Look before you leap. The higher one jumps the harder the fall. The actual ground realities should have been assessed before making public promises. And now the excuse "we tried".

32 56

A Concerned Citizen Thursday, 27 February 2025 10:14 AM

NPP leaders boasted during Election Campaign that Arjun Mahendran will be brought back to Sri Lanka to face legal action with respect to Central Bank Bond Scam. So far NPP Government has not taken any serious effort to extradite him from Singapore. Some important person, i.e Prime Minister or Foreign Minister together with Attorney General must go to Singapore with a prior appointment and meet the Prime Minister and Minister of Justice in Singapore with all the legal documents required and request extradition of Arjun Mahendran. Without doing any of these things Cabinet Spokesman cannot say legal issues do not allow us to get the suspect of the biggest Sri Lankan Central Bank Robbery to face justice.

37 47

Sokrates Thursday, 27 February 2025 12:56 PM

The tug of war and years of wrangling and promises over Arjuna Mahendran's extradition was completely nonsensical. One only needs to read the relevant Singapore law books and it is perfectly clear that Singapore cannot extradite its citizen for an offence of this nature. There is no possibility of negotiation. Sri Lanka must come to terms with this, stop wasting time and money and above all stop making promises to the people that no government can keep. Singapore, Switzerland, Luxenburg and other financial hubs will not change their banking and financial laws just because of Sri Lanka. It should not be forgotten that it was only the failure of the then government and the authorities that allowed this criminal to escape.

3 31

Dr Tissa Fernando Thursday, 27 February 2025 04:59 PM

What about USD 18 nillion from Uganda , another NPP campaign talk?

4 24

joshua Thursday, 27 February 2025 10:15 AM

It is our PINA who ensured that Mahendran left the country before he could be arrested. Now we are at the mercy of Singapore and nothing can be done. Such a shame that rogues cannot be brought before the Law due to politicians who have ruined this country so far.

42 65

Wishful_Unthinking Thursday, 27 February 2025 03:26 PM

Why was this promised during the election campaign? I guess they didn't look into it then.

14 26

NO MERCY SHOULD BE SHOWN TO THOSE INVOLVED, EVEN ANY STOOGES IN ALL AREAS OF THE POLICE FORCE ETC WHO MAY HAVE HAD A HAND IN PAVING THE WAY FOR HIS FLEEING, MAY EVEN HAVE BEEN THE LEGAL MINDS WHO REPR Thursday, 27 February 2025 03:52 PM

JOSHUA, CORRECT. UNFORTUNATELY AS THE SAYING GOES "BIRDS (VULTURES) OF A FEATHER ALWAYS FLOCK TOGETHER". ALL WHO WERE RESPONSIBLE DIRECTLY AND OR INDIRECTLY FOR APPOINTING AND OR HAD A HAND IN TIME GIVEN FOR HIM TO FLEE SHOULD BE ARRESTED SAME DAY AND TIME KEPT APART IN DIFFERENT ROOMS AND QUESTIONED. IT IS NO SURPRISE WHEN WE LOOK BACK ND NOW HEAR STORIES COMING OUT OF HOW MAJORITY OF SCUM POLITICIANS HAVE GOT TOGETHER AND WITH NO LOVE FOR THEIR MOTHERLAND AND THE PEOPLE GO ON A CORRUPTION SPREE FOR DECADES AND END RESULT COUNTRY AND ITS PEOPLE HAVE A SWINDLED BANKRUPT COUNTRY.

6 10

Banku Hora Thursday, 27 February 2025 05:07 PM

What most forget or fail to understand is that Sri Lanka does not have an extradition treaty with Singapore. The Central Bank functioning under the Ministry of National Policy had already blocked and retained a fund of Rs 12 billion belonging to the Perpetual Treasures Ltd. Guess the NPP should have checked without falsely claiming they will bring him back to face justice. Can we the people, take the government to court for promises made and failed to deliver?

1 8

L board Thursday, 27 February 2025 10:16 AM

Wonder what else was just big talk during the campaign..

30 45

Nihal S Thursday, 27 February 2025 10:22 AM

This was not unexpected. The authorities shall aim to charge the others involved if there is a valid case. The job was not done by Mahendran alone.

2 44

GO AFTER THE OTHERS CONFISCARE THEIR PASSPORTS AND DRAG THEM BEFORE A COURT OF LAW. Thursday, 27 February 2025 03:56 PM

ABSOLUTELY NIHAL. THE GOVT SHOULD ARREST THEM ALL AND DISH OUT THE HARSHEST PUNISHMENT FOR ALL THOSE FOUND GUILTY, EVEN IF THEY HAVE TO GIVE AMMESTY TO SOMEONE WHO IS PREPARED TO TURN CROWN WITTNESS.

2 6

Bernard Jayatilake Thursday, 27 February 2025 10:26 AM

It is the duty of this government to pay homage to Arjun Mahendran for indirectly delivering many votes from the electorate for the rhetoric and that in itself is a victory in disguise for the government. Well done!

9 16

mohandev Thursday, 27 February 2025 10:27 AM

None of these modayas here dont understand why should S'por extradict its citizen on a mere suspect notice to appear in a SL court ? Why cant at least JVP govt conduct bond scam case with AM in absentia

0 41

Rasika Gunasekera Thursday, 27 February 2025 10:43 AM

For greater transparency and public accountability, the letter from Singaporean Authorities with exact details as why extradition is not possible should be tabled in parliament and available in the public domain. Otherwise, people will doubt the authenticity of this story.

7 26

Gunapala Thursday, 27 February 2025 04:06 PM

AR has not been convicted by Sri Lankan courts for any crime. It is very obvious that there is no reason for Singapore to extradite him.

0 8

Desmond Wickramaratne (Snr. Lawyer) Thursday, 27 February 2025 10:47 AM

It is not good for the Singapore Government to hold Arjuna Mahendran as he is a fraud. Without any further delay he should be sent back to SriLanka and he should be punished according to our Law.

30 35

Prof. J.M. Fernando Thursday, 27 February 2025 10:49 AM

AKD and NPP should talk directly with Singapore Govt. and bring back the culprit Arjuna Mahendran.

14 20

LMAO Thursday, 27 February 2025 07:42 PM

Doesn't work that way, my dear. Singapore is abiding by its laws and those laws do not permit them to extradite a citizen in such a case. Full stop. They are not Sri Lanka where you can have the laws bent in your favour by "going and talking"!

0 11

Solicitor, England Thursday, 27 February 2025 10:50 AM

It is a common knowledge that Singapore does not extradite its citizens but surprisingly Sri Lankan police didn't know about it and wasted all these years trying to get him using the Interpol. It should be mentioned that Interpol is not a law enforcement agency.

3 30

Adwani Thursday, 27 February 2025 10:52 AM

AM has proved in Singapore Courts that he was not the sole decision maker in Bond Scam, there are lot politicians involved in stealing public funds. Besides, before his extradition to SL many politicians who were benefited from BS have petitioned Singapore claiming that he was not only person to be held responsible for scam. Anyhow, the loss has been recoved from the company involved in benefiting from this scam.

2 17

johan Thursday, 27 February 2025 10:55 AM

Actually it is the so called Economic Saviour RW forcibly appointed Mahendran as Governor despite objections by Maithri and some UNPers. RW took responsibility for him.NPP must hold RW responsible for his unilateral decision and must inquire Maithri also in this regard. We're well aware of this subject.

17 28

WORTH A TRY TO BREAK THIS SCUMBAG WHO SWEPT THE CORRUPT RAJAPASKE'S UNDER THE CARPET AND MOVED LIKE A PUPPET FOR A SHORT PERIOD OF TIME, UNTIL THE MAJORITY WIPED HIM OUT IN TWO ATTEMPTS AND POSSIBLY H Thursday, 27 February 2025 04:12 PM

JOHAN, YOUR COMMENT IS SOMETHING ANURA/LEGAL MINDS SHOULD LOOK INTO ARREST RW AND GIVE HIM LONG HOURS IN THE 4TH FLOOR, HE MAY SPIT OUT MORE FACTS.

2 3

Mizaru Thursday, 27 February 2025 11:16 AM

Try him in absence which can be done and also charge all connected to the Sri Lanka Central Bank robbery.

3 23

Nimal Thursday, 27 February 2025 11:28 AM

Another case of NPP MPs beating the drum without knowing the legal restrictions in laws of countries. It would have been reasonable if they had said that they would TRY to bring him rather than acusing previous authorities not doing anything. As if the NPP is the only one could do it. Don't try to be an achiever before achieving anything. There are so many slogans like that already that NPP is now struggling to fullfill. Being in opposition and being in government are entirely two different things.

7 32

Insufficient Evidence Thursday, 27 February 2025 12:00 PM

I feel that there is insufficient evidence for his arrest. The Singapore court system is robust and follows the law strictly. They have extradited many criminals so long it can be proven with concrete evidence the said person has done wrong. Half baked evidence is unacceptable in any country!

4 23

Samantha Thursday, 27 February 2025 12:10 PM

Singapore is meant to legally strong country, but cannot even extradite a man to face the courts here. Why is Singapore so weak allowing only for convicted criminals. The way it is, seems Singapore going to be a safe haven for any to escape the courts, and face court for crimes? Sri Lanka should ask Singapore to update law to improve their so called justice system.

19 10

Jude Thursday, 27 February 2025 12:10 PM

Under the interpol rednotice he could be apprehend. But a complexed diplomatic process, but it's possible.

9 2

Jude Thursday, 27 February 2025 12:12 PM

Find a way to prosecute son in law Aloysius. And he's responsible for the bond scam.

7 11

Geoffrey Lodewyke Saturday, 01 March 2025 07:43 AM

All the Bond scam rogues Ranil, Ravi K, Kabir Hashim, Sujeewa Serasinghe, Dayasiri Jayasekara, Hector Appuhamy, Rosie Senanayake, Arjun Aloysius and many more have to be questioned and sent for life imprisonment.

0 1

Jude Thursday, 27 February 2025 12:14 PM

People don't forget some of the Bond Scam proceeds went to Ranil and the UNP.

7 18

K Thursday, 27 February 2025 12:45 PM

Abduct him when he is out for vacation. No mercy, don't worry about about diplomatic things, once we have the man will take care the rest

12 8

So much for system change Friday, 28 February 2025 10:25 PM

Super thuggish comment! Way to go with the system change. Replace old thuggery with new thuggery!

0 2

Ima Thursday, 27 February 2025 01:07 PM

He was handpicked by RW, against warning of then president Sirisena and bypassing many economists, who were equally or even more qualified than Mahendran, most probably they might have understanding of future swindle, due to this RW would have to pay back loss done to government

3 7

Jack Black Thursday, 27 February 2025 01:49 PM

When a tiny nation achieves high speed economic success, there's a lot of hardwork and visionary leadership behind it. But the often unspoken factor that fuels most of that rapid pace is the black money they usually look other way of. This small nation is no different and they're not going to give out a client that easily sending a wrong signal to the others who brought their money in.

3 5

Punchi Thursday, 27 February 2025 01:50 PM

Tamils have a privileged place in Singapore due to the contributions of Ceylon Tamils including S.Rajaratnam first foreign minister and considered one of the founding fathers alongside Lee Kuan Yu. Tamil is one of the official languages in Singapore. Now our patriotic politicians must work to educate the Singaporeans of the greatness of our 2500 year Shingala Buddhist civilisation and get Singapore to replace Tamil with Shinhala as an official language Maybe we can bring to the attention of the government of Singapore the sterling contribution that our maids have made to cleaning, child keeping and other domestic duties performed by our maids to bring about the replacement of Tamil with the Shinhala language

10 3

RS Thursday, 27 February 2025 02:20 PM

If anyone were to be blamed it is the person who appointed him.

3 10

Ravana Thursday, 27 February 2025 02:28 PM

Tighten the neck brace of those responsible who are here. Automatically, everything will fall into place. Tighten them so hard that the next in line will come forward or escape in kalla thoni

2 7

Sivalingam Thursday, 27 February 2025 02:41 PM

Nandalal was the deputy of Arjuna Mahendran during the bond scam.

1 11

DISGUSTED CITIZEN Thursday, 27 February 2025 04:20 PM

THEN NANDALAL SHOULD BE ARRESTED TOO!!.

0 0

B.H.Jurangpathy Thursday, 27 February 2025 02:51 PM

Government has tried it's best to bring arjun mahendran to book but it's not happening. People know the true facts ,though the guy thinks he can escape but there is no chance the Divine power would let him be free. Crime never escapes. Someday he will be caught.

4 5

Modera Thursday, 27 February 2025 03:23 PM

Can he be smuggled into Sri Lanka in a container? No red tape then.

2 4

Patcitz Thursday, 27 February 2025 03:50 PM

When it comes to CORRUPTION, the Commonwealth Scheme seems nullity and protects criminals. Therefore, it'd be better for Sri Lanka to leave the Commonwealth bloc. Anyway, Ranil Wickremasinghe is available for ARREST, so, the AKD regime should not hesitate to act according to the law of the land. Arrest Ranil Wickremasinghe immediately without any more delay.

2 14

navratne willamune Thursday, 27 February 2025 05:33 PM

Singapore will become a haven for crooks, and its reputation will be tarnished. if a legitimate request is not granted

2 1

Donald g Thursday, 27 February 2025 05:48 PM

What is the offense he committed? In legal terms. List the evidence of the crime he did. Any national could be the head of the central bank. If it was illegal appointment why could someone go to court and eject him. All are just talking.

0 3

MFB Thursday, 27 February 2025 06:35 PM

The constitution has to change to not to allow any Sri Lankan with dual or multiple citizenship with any country to hold a public office position and to political party or a parliamentary position.

1 1

MFB Thursday, 27 February 2025 06:35 PM

The constitution has to change to not to allow any Sri Lankan with dual or multiple citizenship with any country to hold a public office position and to political party or a parliamentary position.

1 0

UAli Thursday, 27 February 2025 06:40 PM

Mahendran picked as head of CBSL by RW according to his whims and fancies, that’s too going against MS’s warning, so RW is solely responsible, whether he likes or not,he should payback looted money to state

0 2

Hitler Thursday, 27 February 2025 06:42 PM

Why do big people in Sri Lanka escape arrest,prosecution and jail sentence . Even remand stay quickly ends with transfer to prison hospital or other hospitals. Arjun Aloysius was released from remand on the ground that his new born babies will miss paternal care. Is this relief available to a poor village youth remanded for robbing Coconuts. I would like a wide society debate to see whether the laws is same for all.

0 4

saman Thursday, 27 February 2025 08:11 PM

NPP Government, what about confiscation all assets in his name or joint names and start selling them to recover the losses to the country. If there is no such mandate, then the parliament should implement a legislation. This will force him to come to SL and obtect to what is being done. Then arrest the guy.

0 1

HOPE THIS SCUMBAG HAS MANY SLEEPLESS NIGHTS Thursday, 27 February 2025 08:52 PM

LOOKS LIKE MAHENDRA IS ASKING THE OTHERS TO SHUSHHHHHH SILENCE. (THE PICTURE SPEAKS A MOUTHFUL

0 0

Lawry Thursday, 27 February 2025 09:28 PM

Ranil has offered to refund all monies his buddy Mahendran defrauded.

0 1

Bernard Thursday, 27 February 2025 09:28 PM

It's more than enough we heard this nonsense, get the interpol to act

0 0

Dr Tissa Fernando Thursday, 27 February 2025 10:12 PM

Interpol based on what? There is no case here. NPP is giving excuses to justify their campaign promises.

0 0

Ro Bert Thursday, 27 February 2025 09:45 PM

This is how many countries have ruined a country and made their own country a developed country... But it is not their fault... The people of this country should be angry with Ranil for giving the power of our country to another countryman.

1 2

Bokka Thursday, 27 February 2025 11:26 PM

Just hang his siblings, including RW upside down. He will come voluntarily.

0 0

P Kunchithapathan Friday, 28 February 2025 01:48 AM

The case of Arjuna Mahendran, implicated in the infamous bond scam, stands as a profound disgrace to the nation. Despite the presence of several highly qualified deputy governors within the Central Bank, the government chose to appoint Mahendran, a Singaporean citizen, to this critical position. The then Yahapalanaya government further compounded this betrayal of public trust by interfering with the judiciary to shield those responsible. Ranil Wickremesinghe must be held accountable for this egregious failure. Even the former Minister of Finance, Ravi Karunanayake, was compelled to resign in disgrace due to his involvement in the controversial super-luxury apartment scandal. His subsequent appointment as Minister of Foreign Affairs only served to deepen public outrage and fuel widespread skepticism.

0 1

Justice Friday, 28 February 2025 04:16 AM

Well Said. It was obvious to anyone familiar with this case that Singapore who requested a copy of the forensic audit and knew the findings would never extradite Mahendran. AKD was a MP and had knowledge of all three commission reports and lied to the people about getting Mahendran down. It was a lie the day he uttered it and he knew it.

0 0

Fahim Reasons Friday, 28 February 2025 08:03 AM

Learn to think Sri Lankan politicians, monkey politicking with the electorate’s minds, have turned the whole lot into copycats—"He do, I do; we all see, we all do." And just like that, the circus goes on, with everyone swinging from the same broken branch!

0 2

Fahim Reasons Friday, 28 February 2025 08:33 AM

What’s good for the goose is good for the gander. The NPP Pied Piper blew the same pipe but played their own rhythm. They knew it was the only formula that had worked for over 70 years—and the only way to climb from 3% to a majority in Parliament. They also believed that once they had the numbers, they could waltz through all their promises. A representative system was, is, and always will be a breeding ground for injustice, bias, corruption, and hypocrisy—keeping citizens enslaved. After all, if you become sheep, the wolves will feast.

0 1

Dr Michael Fernand Tuesday, 04 March 2025 04:50 PM

It is not good for the Government to keep blaming Mahendran, who cannot be extradited, and do nothing about ALL OTHERS involved in the bond scam. They should all be charged and brought to justice, including Mahendran,in absentia. President AKD the ball is definitely in your court !!!

0 1

Indra Dasa Saturday, 08 March 2025 03:36 AM

Until the commonwealth justice system involved in this extradition OR alternative arrangement made for extradition under special circumstances to be proved in international court , such as due to Arjuna Mahendran's involvement ( Financial Criminal) in BOND scam Sri Lanka's economy had been effected and 22.2 million people effected as one of the major reasons of his action . The other action could be arrest all of his close family members and the person who appointed non citizen of SRI Lanka to a very responsible post may be with a pre planning in mind to do this central bank robbery . All of these NEEDS to be proven in Sri Lankan justice system and reported to the Commonwealth to put an extradition special ORDER to Singapore GOVERNMENT

0 0

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