Arjuna Mahendran

He was educated at Royal College, Colombo in Sri Lanka[http://archives.dailynews.lk/2010/11/18/fea04.asp On behalf of all her sons and daughters]. Archives.dailynews.lk (18 November 2010). Retrieved on 19 November 2015. and at Balliol College, Oxford, he gained a MA in Philosophy, Politics and Economics.

Mahendran joined the Central Bank of Sri Lanka, he had served as a senior economist before moving into investment banking in Singapore going on to serve as managing director and Chief Investment Strategist-Asia at HSBC Private Bank. He was responsible for driving research and providing in-depth analysis of markets in the Asia Pacific. Mahendran also led the analytics team in interpreting market economics and developing investment strategies for HSBC's clients in the region. Later he served as Chief Investment Officer-Wealth Management division at Emirates NBD. From 2001 to 2004 he served as chairman and Director-General of the Board of Investment of Sri Lanka (BOI). For Mahendran's instrumental role in establishing the Board of Investments of Sri Lanka and driving its strategy, he was named a runner-up in Euromoney Strategic Direct Investor's "CEO Lifetime Achievement Award" in 2003.[http://www.sundaytimes.lk/150201/business-times/central-bank-looks-at-risk-management-structures-and-investment-policy-guidelines-132359.html Central Bank looks at risk management structures and investment policy guidelines]. Sundaytimes.lk (4 February 2015). Retrieved on 19 November 2015. He served as Chief Economist & Strategist – Asia Pacific at Credit Suisse Group AG and was its Head of Research for Asia Pacific since October 2006.{{cite web|title = List of Public Companies Worldwide, Letter – Businessweek – Businessweek|url = https://www.bloomberg.com/research/stocks/people/person.asp?personId=54289118&privcapId=9286269|website = Businessweek.com|access-date = 30 October 2015}}

In 2015 he was appointed as the Governor of the Central Bank of Sri Lanka. He was extremely critical of the Sri Lankan tax system and called the revenue which is only 10% of the GDP "pathetic" and compared the low tax collection in the country to the tax collection of a poor Sub-Saharan country and also criticized the complexity of the tax system and proposed to simplify it and introduce online tax payment systems to streamline tax collection.{{cite web|title = Sri Lanka seeks to connect tax payers with revenue office online|url = http://www.lankabusinessonline.com/sri-lanka-seeks-to-connect-tax-payers-with-revenue-office-online/|website = Lanka Business Online|access-date = 30 October 2015|language = en}}

He also slammed inefficient loss making state-owned enterprises as they have created losses in state banks while giving a "free ride" to private banks as they exploit significant lending spreads by the government banks and proposed to make public enterprises more efficient so that the banking system can be more efficient and make the economy grow faster.{{cite web|title = CB Governor slams CEB, CPC and SriLankan for dragging down state banks|url = http://www.lankabusinessonline.com/cb-governor-slams-ceb-cpc-and-srilankan-for-dragging-down-state-banks/|website = Lanka Business Online|access-date = 30 October 2015|language = en}} The IMF announced a US$1.5 billion lending program to Sri Lanka in March 2016 to restructure the economy during Mahendran's tenure.{{Cite news|url=https://www.wsj.com/articles/sri-lanka-gets-1-5-billion-loan-from-imf-1461941817|title = Sri Lanka Gets $1.5 Billion Loan from IMF|newspaper = Wall Street Journal|date = 29 April 2016}}

{{Update section|date=December 2020}}

{{Main|Central Bank of Sri Lanka bond scandal}}

In March 2019 President Sirisena of Sri Lanka accused Singapore authorities of not acting on his request to frame charges against Mahendran.{{Cite web|url=https://www.thejakartapost.com/seasia/2019/03/20/singapore-rejects-sri-lankan-leaders-allegation-on-trading-scam-suspect.html|title=Singapore rejects Sri Lankan leader's allegation on trading scam suspect|website=The Jakarta Post}} A spokesperson for the Singapore government said there were no grounds to do so. This follows reports that the Singapore authorities had refused the request on the basis that it could not be determined that Mahendran's conduct, if committed in Singapore, would constitute a criminal offence in Singapore according to the evidence presented by Sri Lanka.{{Cite web|url=https://www.lankanewsweb.net/67-general-news/73384-Singapore-turns-down-Arjuna-Mahendran’s-extradition-request-|title=Singapore turns down Arjuna Mahendran's extradition request?|website=www.lankanewsweb.net}} In February 2015 CBSL advertised the sale of Rs. 1 billion in 30-year government bonds at a coupon of 12.5%{{Cite web|url=http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/press/press_20150227.pdf|title=Advertisement by the Central Bank of Sri Lanka|archive-url=https://web.archive.org/web/20180219012057/http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/press/press_20150227.pdf|archive-date=19 February 2018|url-status=dead}} though several accounts erroneously cite an indicative rate of 9.5%.{{cite news|title=CB Governor faces 'family company' charges; calls mount for probe|url=http://www.sundaytimes.lk/150308/news/cb-governor-faces-family-company-charges-calls-mount-for-probe-139578.html|work=The Sunday Times (Sri Lanka)|date=8 March 2015}}{{cite news|title=Harsha vows to go after fraudsters|url=http://www.nation.lk/edition/latest-top-stories/item/39050-harsha-vows-to-go-after-fraudsters.html|work=The Nation (Sri Lanka)|date=8 March 2015|access-date=20 June 2015|archive-url=https://web.archive.org/web/20161106145332/http://www.nation.lk/edition/latest-top-stories/item/39050-harsha-vows-to-go-after-fraudsters.html|archive-date=6 November 2016|url-status=dead}} Mr Mahendran stated that he grew perturbed that officials of The Central bank had advertised the auction for a very Low figure of Rupees one billion worth of government bonds when the government needed over Rupees 13 billion on the date of the auction and Rupees 172 billion in March 2015.{{Cite web|url=https://www.colombotelegraph.com/index.php/the-bond-scams-were-caused-by-a-broken-bond-market-part-ii/|title=The 'Bond Scams' Were Caused By A Broken Bond Market - Part II|date=19 June 2020}} The sale was oversubscribed with 36 bids of totaling Rs. 20 billion. The majority of bidders, 26, bidded for Rs. 100 million or less at a rate of 9.5%–10.5%. However, a few bidders, including Perpetual Treasuries Limited, wanted interest rates of 11%–12%. On 27 February 2015 an official tender board, which did not include Mahendran, accepted Rs. 10 billion in bids at rates of 9.5%–12.5%. The issuing of ten times the advertised bonds, and at a higher than expected rate, was alleged to cost the Sri Lankan government an additional Rs. 1.6 billion ($10.6 million), though this alleged loss was disputed by the Leader of the House of Parliament.{{cite news|last1=Aneez|first1=Shihar|title=Sri Lanka c.bank head resumes duty after bond probe report|url=https://www.reuters.com/article/sri-lanka-cenbank-governor-idUSL4N0XK2ST20150423|work=Reuters|date=23 April 2015}}{{Cite web|url=http://www.dailynews.lk/2016/07/08/local/86949|title=KIRIELLA on Treasury Bond issue: AUDITOR GENERAL'S REPORT FLAWED|first=Disna|last=Mudalige|website=Daily News}}{{cite news|title=CB Bond Issue Call For Independent Probe|url=http://www.thesundayleader.lk/2015/04/26/cb-bond-issue-call-for-independent-probe/|work=The Sunday Leader|date=26 April 2015}}{{cite news|last1=Fernando|first1=Tharushan|title=Voice Against Corruption Movement condemns PM's statement on CBSL fraud|url=http://newsfirst.lk/english/2015/05/voice-against-corruption-movement-condemns-pms-statement-on-cbsl-fraud/96707|work=News First|date=24 May 2015}} A petition was lodged in the Supreme Court of Sri Lanka contesting the methodology used to allege such a loss.{{Cite web|url=http://www.sundaytimes.lk/170122/news/monks-petition-on-eve-of-bond-debate-in-house-225917.html|title=Monk's petition on eve of bond debate in House}} Perpetual Treasuries was issued, directly and indirectly, with Rs. 5 billion in bonds at 12.5%.{{cite news|last1=Samath|first1=Feizal|title=News Bond issue: Probe committee to question dealers on inside info|url=http://www.sundaytimes.lk/150322/news/bond-issue-probe-committee-to-question-dealers-on-inside-info-141249.html|work=The Sunday Times (Sri Lanka)|date=22 March 2015}}{{cite news|title=Primary dealers seek urgent meeting with CB on bond issue|url=http://www.sundaytimes.lk/150315/business-times/primary-dealers-seek-urgent-meeting-with-cb-on-bond-issue-139712.html|work=The Sunday Times (Sri Lanka)|date=15 March 2015}}{{cite news|last1=Shauketaly|first1=Faraz|title=Trying To Stop The Third Force|url=http://www.thesundayleader.lk/2015/04/12/trying-to-stop-the-third-force/|work=The Sunday Leader|date=12 April 2015}}{{cite news|last1=Perera|first1=Yohan|title=Finance Minister dismisses bond issue allegations|url=http://www.dailymirror.lk/66149/finance-minister-dismisses-bond-issue-allegations|work=The Daily Mirror (Sri Lanka)|date=11 March 2015}} Perpetual Treasuries was one of the primary dealers in the sale and is owned by Mahendran's son-in-law Arjun Aloysius.{{cite news|title=Central Bank Governor under fire|url=http://www.sundaytimes.lk/150315/business-times/central-bank-governor-under-fire-139688.html|work=The Sunday Times (Sri Lanka)|date=15 March 2015}}{{cite news|title=The Central Bank Bond Fiasco|url=http://www.nation.lk/edition/politics/item/39236-the-central-bank-bond-fiasco.html|work=The Nation (Sri Lanka)|date=14 March 2015|access-date=20 June 2015|archive-url=https://web.archive.org/web/20161224233438/http://www.nation.lk/edition/politics/item/39236-the-central-bank-bond-fiasco.html|archive-date=24 December 2016|url-status=dead}} The primary dealer had also appointed the sister of the former Central Bank Governor Ajit Nivard Cabraal onto the Board of its holding company.{{Cite news|url=http://nation.lk/online/2015/07/04/cabraals-sister-responds-to-allegation.html|title=Cabraals sister responds to allegation: The Nation 4 July 2015|archive-url=https://web.archive.org/web/20170202074054/http://nation.lk/online/2015/07/04/cabraals-sister-responds-to-allegation.html|archive-date=2 February 2017|url-status=dead}}

This situation became a controversial political issue in Sri Lanka as the newly elected Sri Lankan Government of President Maithreepala Sirisena came to power with a slogan of good governance in the country. A three-member Committee of eminent lawyers was appointed to investigate the issue and the report produced by the committee claimed that there was no direct involvement by Mahendran in the deal.{{cite web|title = No direct involvement by Mahendran-Committee |url = http://www.dailymirror.lk/69549/committee-clears-arjuna-mahendran|website = www.dailymirror.lk|access-date = 31 May 2015}} The Supreme Court of Sri Lanka did not grant leave to proceed in a fundamental rights case that requested a separate inquiry into the bond issue, as no laws were broken.[http://www.sundaytimes.lk/150510/news/court-cannot-direct-cb-governor-as-no-law-has-been-broken-counsel-148380.html Court cannot direct CB Governor as no law has been broken: Counsel | The Sunday Times Sri Lanka]. Sundaytimes.lk (10 May 2015). Retrieved on 19 November 2015.

Mahendran denied any wrongdoing in the controversial bond auction and asserted that he was ready to face any inquiry to prove his innocence. He also said he had been made a victim due to his own transparency.I’m a victim of my own transparency – CB Governor Mahendran http://nation.lk/online/2015/06/13/im-a-victim-of-my-own-transparency-cb-governor-mahendran.html {{Webarchive|url=https://web.archive.org/web/20161104024249/http://nation.lk/online/2015/06/13/im-a-victim-of-my-own-transparency-cb-governor-mahendran.html |date=4 November 2016 }} In a related development Mahendran's successor at the Central Bank refused to publish a forensic audit commissioned to probe bond auctions, conducted by KPMG/BDO. The forensic audit did not find any evidence of wrongdoing by Mahendran.{{cite web |title=Forensic Audits |url=https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20191112_forensic_audits_e.pdf |publisher=Central Bank of Sri Lanka Communications Department |date=12 November 2019}} Despite efforts to stifle the report, the Speaker of Parliament ruled that the report be made available to Parliament for debate.{{Cite web|url=https://parliament.lk/en/news-en/view/1830?category=6|title=Parliament of Sri Lanka - News - Speaker Decides to Table the Forensic Audit Report in Parliament}}{{cite web | url=http://www.themorning.lk/exclusive-all-5-central-bank-forensic-audit-reports/ | title=EXCLUSIVE: All 5 Central Bank Forensic Audit reports | date=23 January 2020 }} Around the same time the Board of the Central Bank was reconstituted with new appointees.{{Cite web|url=https://parliament.lk/en/news-en/view/1861?category=6|title=Parliament of Sri Lanka - News - Constitutional Council approves the member nominations for the Monetary Board}}{{cite web |title=Prof. W D Lakshman takes office as the Governor of the Central Bank of Sri Lanka |url=https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20191224_prof_wd_lakshman_takes_office_as_the_governor_of_the_cbsl_e.pdf |publisher=Central Bank of Sri Lanka Communications Department |date=24 December 2019}}

A former governor of the Central Bank of Sri Lanka, Ajith Nivard Cabraal who preceded Mahendran charged that a higher hand was involved in the scandal given the scale of the cover-up attempts by the Sri Lankan government.INTERVIEW: Higher hand involved in bond scam http://nation.lk/online/2015/06/20/major-mission-to-cover-up-bond-scam.html {{Webarchive|url=https://web.archive.org/web/20161104024247/http://nation.lk/online/2015/06/20/major-mission-to-cover-up-bond-scam.html |date=4 November 2016 }} Cabraal himself is the subject of several investigations by the law enforcement authorities on alleged misconduct during his tenure as Governor.{{Cite web|url=http://www.ft.lk/letters-to-the-editor/nivard-cabraal-and-his-tenure-at-central-bank/10498-442477|title=Nivard Cabraal and his tenure at Central Bank | Daily FT|website=www.ft.lk}}{{Cite web|url=https://www.newsfirst.lk/2016/10/06/fmr-cbsl-governor-nivard-cabraal-arrives-fcid/150940/|title=Fmr. CBSL Governor Nivard Cabraal arrives at the FCID|date=6 October 2016|website=Sri Lanka News - Newsfirst}}{{Cite web|url=https://www.newsfirst.lk/2015/08/20/fcid-summons-ajith-nivard-cabraal/107670/|title=FCID summons Ajith Nivard Cabraal|date=20 August 2015|website=Sri Lanka News - Newsfirst}}

On 28 October 2016 the Committee on Public Enterprises, after a lengthy investigation, found Mahendran responsible for the Bond Issue Scam and recommended legal action be taken against the above.Mahendran responsible for CB Bond scam: COPE report http://www.dailymirror.lk/article/Mahendran-responsible-for-CB-Bond-scam-COPE-report--118266.htmlMahendran responsible for CB Bond scam: COPE report http://newsfirst.lk/english/2016/10/cope-report-former-cbsl-governor-arjuna-mahendran-found-accountable-bond-scam/153007 However President Maithripala Sirisena has announced that he has appointed a Special Presidential Commission of Inquiry to further investigate the case. This commission consisted of commission's chairman Justice K. T. Chitrasiri and members Justice Prasanna Jayawardena and retired Deputy Auditor General, V. Kandasamy.{{Cite web|url=http://www.ft.lk/front-page/presidential-commission-of-inquiry-on-cb-bond-scam/44-593144|title=Presidential Commission of Inquiry on CB Bond scam | Daily FT|website=www.ft.lk}} During the inquiry, Mahendran defended his actions before the Commission stating that he had not acted in a manner detrimental to the interests of the Government.{{Cite web|url=http://www.ft.lk/front-page/Mahendran-stands-ground/44-640888|title=Mahendran stands ground | Daily FT|website=www.ft.lk}}

The commission handed over the report on Central Bank bond issuance to the President Maithripala Sirisena on 30 December 2017 and the Presidential Secretariat made available the full report in PDF form from its website for public viewing.{{cite news | url=http://www.adaderana.lk/news.php?nid=45097 | title=Bond commission hands over report to President Sirisena | publisher=Adaderana | date=30 December 2017 | access-date=23 March 2018}}{{cite news | url=http://www.presidentsoffice.gov.lk/?p=4978 | title=Report of the Bond Commission | publisher=Presidential Secretariat | date=16 January 2018 | access-date=23 March 2018}} In the findings of the report, Arjuna Mahendra was held directly responsible for causing a loss of LKR 11,145 million to public institutions.{{cite news | url=http://www.thehindu.com/news/international/sri-lankas-ex-central-bank-chief-arjuna-mahendran-held-responsible-for-bond-scam/article22360554.ece | title=Sri Lanka's ex-Central Bank chief Arjuna Mahendran held responsible for bond scam | work=The Hindu| date=3 January 2018 | access-date=23 March 2018}} However, Prime Minister Ranil Wickremesinghe has announced that 'No financial loss will be caused to the government on account of the Central Bank Bond issue since the government will recover the Rs 9.2 billion involved from Perpetual Treasures Ltd. according to the procedure recommended by the Presidential Commission. The Central Bank functioning under the Ministry of National Policy has already blocked and retained a fund of Rs 12 billion belonging to the Perpetual Treasures Ltd'{{Cite web|url=http://www.dailynews.lk/2018/01/19/local/140425/govt-will-recover-rs-92-bn-perpetual-treasuries|title=Govt. will recover Rs. 9.2 bn from Perpetual Treasuries|website=Daily News}} In 2016 an independent report published by the UN High Commissioner for Human Rights stated that Such Commissions of Inquiry in Sri Lanka rarely served a useful purpose and stood in the way of competent institutions fulfilling their objectives.{{Cite web|url=https://www.ohchr.org/en/NewsEvents/Pages/DisplayNews.aspx?NewsID=19942&LangIE|title=OHCHR | Preliminary observations and recommendations of the Special Rapporteur on the independence of judges and lawyers - Ms. Mónica Pinto* of the Official joint visit to Sri Lanka – 29 April to 7 May 2016|website=www.ohchr.org}}

The prolonged nature of the inquiry may be linked to a growing rift between Sri Lanka's president and Prime Minister and the two political parties they each represent in an increasingly fraught coalition government.{{Cite web|url=https://www.straitstimes.com/asia/south-asia/tumult-in-sri-lanka-the-statesman|title=Tumult in Sri Lanka: The Statesman|date=26 March 2018|website=The Straits Times}} A group of ministers from the President's party along with opposition MPs failed in a recent attempt to pass a motion of no-confidence against the Prime Minister in Sri Lanka's Parliament.{{Cite web|url=https://www.straitstimes.com/asia/south-asia/sri-lankan-pm-defeats-vote-of-no-confidence|title=Sri Lankan PM defeats vote of no confidence|date=6 April 2018|website=The Straits Times}} A key issue in the motion was the Prime Minister's alleged interference in the Central Bank.{{Cite web|url=https://www.straitstimes.com/asia/south-asia/sri-lankan-pm-ranil-wickremesinghe-survives-no-confidence-vote|title=Sri Lankan PM Ranil Wickremesinghe survives no confidence vote|date=5 April 2018|website=The Straits Times}} The President has subsequently had to prorogue Parliament{{Cite web|url=https://www.straitstimes.com/asia/south-asia/sri-lankas-president-suspends-parliament-until-may-8|title=Sri Lanka's president suspends parliament until May 8|date=13 April 2018|website=The Straits Times}} President Sirisena was accused by Australian authorities of soliciting a bribe from an Australian contractor and his chief of staff was caught red-handed by Police while accepting cash from a businessman in the carpark of a hotel.{{Cite web|url=https://www.straitstimes.com/asia/south-asia/top-aide-of-sri-lankan-president-sirisena-caught-red-handed-accepting-bribe|title=Top aide of Sri Lankan President Sirisena caught red-handed accepting bribe|date=3 May 2018|website=The Straits Times}}{{Cite web|url=https://www.smh.com.au/business/australian-companies-linked-to-bribe-scandals-in-sri-lanka-and-congo-20160823-gqyzlp.html|title=Australian companies linked to bribe scandals in Sri Lanka and Congo|last1=McKenzie |first1=Nick |last2=Freudenthal |first2=Emmanuel |last3=Bachelard |first3=Michael |last4=Baker |first4=Richard |date=24 August 2016|website=The Sydney Morning Herald}}

On 15 March 2018 Colombo Fort Magistrate's Court issued an arrest warrant on Arjuna Mahendra 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 CEO of Perpetual Treasuries Limited.{{cite news | url=http://www.dailymirror.lk/article/Arjun-Aloysius-Kasun-Palisena-arrested-145171.html | title=Arjun Aloysius, Kasun Palisena arrested | work=Daily Mirror| date=4 February 2018 | access-date=23 March 2018}} Mahendra did not surrender himself to the court. The Supreme Court of Sri Lanka had earlier rejected a similar petition.{{Cite web|url=http://www.ft.lk/top-story/supreme-court-dismisses-fr-case-against-treasury-bond-fiasco/26-419817|title=SC dismisses FR case against Treasury Bond fiasco | Daily FT|website=www.ft.lk}} News reports state that Mr Mahendran has challenged the order through the International Police (Interpol).{{Cite news|url=http://www.sundaytimes.lk/180506/columns/coalition-in-do-or-die-battle-to-win-back-hearts-and-minds-of-the-people-293122.html|title=Coalition in do-or-die battle to win back hearts and minds of the people|work=The Sunday Times Sri Lanka|access-date=31 May 2018}} Prime Minister Wickremesinghe made a statement in the Sri Lanka Parliament on 5 June 2018 stating that the Singapore government has refused to arrest Mahendran Lawyers of the accused have made submissions to court contending that the presentation of the Commission of Inquiry CCOI) report in a court of law as evidence is not admissible as the COI does not formally follow the judicially recognised law of evidence.{{Cite web|url=http://www.dailymirror.lk/breaking_news/Introducing-bond-report-in-court-illegal-Gamini-Marapana-PC/108-148017|title=Introducing bond report in court illegal: Gamini Marapana PC|website=www.dailymirror.lk}}

On 28 June 2019, a case was filed at the Permanent High Court Trial at Bar by the Attorney General against Mahendran accused in the Central Bank Treasury Bond Scam and lost multi billions from Sri Lankan's public money.{{Cite web|url=https://www.newsfirst.lk/2019/09/02/ag-submits-a-21000-page-extradition-request-for-arjuna-mahendran/|title=AG submits a 21,000-page extradition request for Arjuna Mahendran - Sri Lanka Latest News|date=2 September 2019|website=Sri Lanka News - Newsfirst}}

On 16 June 2020, the attorney general of Sri Lanka alleged that, according to Interpol, Mahendran had changed his name to Harjan Alexander.{{Cite web|date=2020-06-16|title=Fmr. CBSL governor Arjuna Mahendran changed his name - INTERPOL|url=http://archives1.sundayobserver.lk/2020/06/16/news/fmr-cbsl-governor-arjuna-mahendran-changed-his-name-interpol|access-date=2020-06-16|website=Sunday Observer|language=en}}{{Cite web|title=Mahendran has changed name to Harjan Alexander: AG informs Special HC|url=http://www.dailymirror.lk/top_story/Mahendran-has-changed-name-to-Harjan-Alexander:-AG-informs-Special-HC/155-190105|access-date=2020-06-16|website=www.dailymirror.lk|language=en}}{{Cite web|date=2020-06-16|title=Arjuna Mahendran changed his name to Arjan Alexander ; INTERPOL informs SL|url=https://www.newsfirst.lk/2020/06/16/arjuna-mahendran-changed-his-name-to-arjan-alexander-interpol-informs-sl/|access-date=2020-06-16|website=Sri Lanka News - Newsfirst|language=en}} However, one of the publications that stated this subsequently carried a reference to Mr Mahendran using his original name, casting doubt on the authenticity of the quote.{{Cite web|url=http://epaper.dailymirror.lk/epaper/iphone/homepage.aspx#_article81c81fbc-0f4b-4c54-baa3-4ad4bcde5f48/waarticle81c81fbc-0f4b-4c54-baa3-4ad4bcde5f48/81c81fbc-0f4b-4c54-baa3-4ad4bcde5f48//true|title=Daily Mirror E-Paper|website=epaper.dailymirror.lk}} Mr Mahendran published a rebuttal denying any change of his name alleging, inter alia, that the Sri Lanka Attorney General was instructed to sensationalise the case in the media on the instructions of the President.{{Cite web|url=https://www.colombotelegraph.com/index.php/bond-scams-reflect-a-broken-bond-market/|title='Bond Scams' Reflect A Broken Bond Market|date=28 May 2020}} The same Sri Lanka attorney general ordered the arrest of a staffer in the Swiss embassy in Sri Lanka which was strongly objected to by the Swiss government.{{Cite news|url=https://www.thehindu.com/news/international/colombo-based-swiss-staffer-arrested/article30322817.ece|title=Colombo-based Swiss Embassy staffer arrested|first=Meera|last=Srinivasancolombo|newspaper=The Hindu|date=16 December 2019|via=www.thehindu.com}}

In a series of 3 rulings the Special High Court of Sri Lanka dismissed the charges against Mr Mahendran in 2022.{{cite news |title=Third Bond Auction: Ravi, nine others released from 11 charges |url=https://archives1.dailynews.lk/2021/12/07/local/266647/third-bond-auction-ravi-nine-others-released-11-charges |work=Daily News |date=7 December 2021}}{{cite news |title=Ravi, ten accused released from second Bond Scam case |url=https://archives1.dailynews.lk/2022/03/05/law-order/274119/ravi-ten-accused-released-second-bond-scam-case |work=Daily News |date=5 March 2022}}{{cite news |title=Trial-at-Bar rules charges against Mahendran, CBSL officials cannot be pursued |url=https://dailynews.lk/2022/10/12/law-order/288963/trial-bar-rules-charges-against-mahendran-cbsl-officials-cannot-be |work=Daily News |date=12 October 2022}}

{{reflist}}

{{Governors of the Central Bank of Sri Lanka}}

{{DEFAULTSORT:Mahendran, Arjuna}}

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