PTL director arrested, remanded over bond scam

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Director of Perpetual Treasuries Limited (PTL) Muthuraja Surendran, has been arrested by the Criminal Investigation Department.

He was subsequently remanded by the Colombo Additional Magistrate until March 18, after he was produced before courts.

Muthuraja Surendran is the eighth suspect in the Central Bank bond auctions of March 2016.

The Colombo Fort Magistrate’s Court yesterday (06) issued warrants for the arrest of Karunanayake and 9 others over the Central Bank bond auctions of March 2016.

The Attorney General on Tuesday directed the Acting IGP to obtain arrest warrants against several suspects in the Central Bank bond scam case including the former Finance Minister Ravi Karunanayake, former Governor of the Central Bank Arjuna Mahendran, Perpetual Treasuries Limited (PTL) owner Arjun Aloysius, CEO Kasun Palisena, former Director of the Public Debt Department of the Central Bank T.H.B. Sarathchandra and several others on charges of conspiracy, criminal misappropriation, cheating and market manipulation in respect of the bond auctions of March 2016.

The Colombo Fort Magistrate Ranga Dissanayake accordingly issued arrest warrants on ten suspects in the case, however, rejected issuance of warrant on the tenth suspect, Buddhika Sarathchandra.