The Presidential Commission appointed to inquire the bond scandal at the Central Bank of Sri Lanka (CBSL), today ordered Perpetual Treasuries Director Arjun Aloysius to hand over his mobile phone and other communication devices used during the period 2015-2016 to the Criminal Investigation Division (CID) of the Police.

Aloysius is alleged to have made ‘unlawful gains’ in a bond transaction that took place during the 2015-2016 period, while his father-in-law Arjuna Mahendran was at the helm of the CBSL. Mahendran stands accused of insider trading and a Presidential Commission was appointed to look into the scandal the caught the attention of the public.

President Maithripala Sirisena appointed a four-member Commission consisting Supreme Court Judges Kankanithanthri T. Chitrasiri, Prasanna Sujeewa Jayawardena and former Deputy Auditor General Kandasamy Velupillai on January 27 to inquire into the alleged bond scandal, despite protestation from Mahendran that he was not guilty.

The bond scandal is at the forefront of allegations against the current unity government; members of the previous regime have accused the government of covering up after Arjuna Mahendran, who is said to be a close ally of Prime Minister Ranil Wickremesinghe through his father, UNP stalwart Charlie Mahendran.