Ten years later, the SL Bond Scam rolls on unresolved By Bandula Sirimanna View(s): View(s):More than 10 years after the island nation’s most contentious financial crime was committed, the case of Central Bank of Sri Lanka’s (CB) bond scam triggering losses running into billions of rupees remains unresolved. The bond scam investigations led to significant reports (like COPE’s), holding former Governor Arjuna Mahendran (now in Singapore as a citizen there) responsible, but his extradition failed as Singapore refused, citing lack of evidence. Mr. Mahendran, widely associated with the 2015 auction controversy, has been notified to appear in court in connection with bond scam inquiries. The impact of the bond scam on the national economy is currently under review. Meanwhile, multiple investigations into the CB bond scam including the Presidential Commission of Inquiry and COPE have found serious irregularities, conflicts of interest, and major financial losses.

Source: Sunday Times January 11, 2026 07:28 UTC