The PTL list is a distraction; lest we forget Mahendran

 JUN 07 2018

While the curious case of the 118 parliamentarians and similar socially responsible individuals who have received monetary benefit from the now accused Perpetual Treasuries Pvt. Ltd and its associated companies continues to make headlines and raise the heads of quite a few, the country is seemingly forgetting the fact that one of the perpetrators of the Central Bank scandal is still at large, evading authorities both locally and internationally.

Yes, lest you have forgotten, we would like to remind you, that the former Central Bank Governor, Arjuna Mahendran remains unaccounted for.

It was last January, when the report of the Presidential Commission of Inquiry on the controversial issuance of Treasury Bonds was publicized - partially, as we learn now - found Mahendran responsible for causing a loss of
Rs 11,145 million to public institutions.  Subsequently, in March when the case against the scandal commenced at the Colombo Fort Magistrate’s Court, an arrest warrant was issued against Mahendran on charges of criminal breach of trust for allegedly providing confidential information of the Central Bank of Sri Lanka to Perpetual Treasuries Limited, a primary dealer connected to and owned by his son-in-law Arjun Aloysius who was arrested on 4 February 2018 along with Kasun Palisena, who was the beneficial owner of Perpetual Treasuries Limited. Mahendran, as expected by many, has not surrendered to the authorities and continues to abscond.

As of now, investigations led by the Singaporean authorities are underway to find Mahendran, who was reportedly spotted in the downtown areas of Singapore. Once the arrest is made, in an ideal situation, the perpetrator can be extradited under the existing regulations and accords previously agreed upon between the countries. Singapore and Sri Lanka, currently maintain workable extradition relations as per the treaty signed under the London Scheme with eight members of the Initiative (other members include Bangladesh, Fiji, India, Malaysia, Papua New Guinea, Samoa, and Vanuatu) therefore, the problem now lies with the law enforcement authorities to locate Mahendran.
 Once that is completed, bringing him back to the country for prosecution would be a simple task under the sufficient existing laws.

However, all of this could have been avoided; when the course of the Presidential Commission of Inquiry proceedings were unfolding, with startling revelations being made every other day or so, it was obvious that evidence was not in favour of Mahendran. Many anticipated the disappearance of Mahendran, but failed to take proactive measures against him. And now we, as a nation, are seemingly on the verge of forgetting he ever existed because of the latest developments in the case.

We are not in any way suggesting that those who have received money from the accused company or its individuals need not be identified, revealed and inquired into in a court of law. We understand the magnitude of these developments which has the potential of making or breaking the careers of many personalities in society. Such a revelation would the ultimate weapon that determines the voters’ decision in the upcoming elections. The public knowledge that their public representative has received money stolen from the very coffers of the nation to run their election campaign, will be vital information for the voter.

We see the information or the apparent bloating of the said ounce of knowledge - this PTL beneficiary list, missing in the annexures of the PCoI report - as a distraction to the public. It is a distraction from the bigger picture. A distraction from Arjuna Mahendran, Jaliya Wickramasuriya and Udayanga Weeratunga who should be hunted down to the far corners of the world for the corruption they have infected our system with.

 Not just them, but also the individual who advised them and protected them, politically or otherwise, when they were in power. And this list, much as it is a distraction, can be used to reveal all of those demagogues who have run this country to the ground.