The Colombo Fort Magistrate this afternoon issued a warrant for the arrest of former Central Bank Governor Arjuna Mahendran.

Mahendran is wanted in connection to alleged insider trading that resulted in one company – Perpetual Treasuries Ltd. making unprecedented gains.

Mahendran’s son-in-law Arjun Aloysius, who is currently in Police custody, formerly owned Perpetual Treasuries Ltd..

Meanwhile, Arjun Aloysius and Perpetual Treasuries CEO Kasun Palisena were re-remanded till March 29 by the Colombo Fort Magistrate.