Former Governor of the Central Bank Arjuna Mahendran, questioned before the tribunal today, denied knowledge of whom ‘AM’ refers to in the text messages retrieved from Arjun Aloysius’ phone.

To which Presidential Commissioner Justice Prasanna Jayawardene replied dryly – “Is your son a friend of Angelo Mathews?”

Arjun Mahendran is before the Presidential Commission of Inquiry (PCoI) investigating the Treasury bond auctions of February 27, 2015 and 29, 31 March 2016.

Perpetual Treasuries Limited – owned by his son-in-law Arjun Aloysius – recorded unprecedented a profit of Rs. 5.1 billion for the year that ended in March 2016.

Arjuna Mahendran and Arjun Aloysius are accused of insider trading that resulted in PTL earning a 430% increase in profits in comparison to the previous year.