Sri Lanka accuses Singapore of sheltering suspect involved in $74 million trading scam

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The Sri Lankan President said that he appealed to Singapore Prime Minister Lee Hsien Loong two months ago (Jan 2019) to return Mahendran - who is now a Singapore citizen - back to Sri Lanka

Sri Lankan President Maithripala Sirisena has accused Singapore of sheltering Arjuna Mahendran – one of Sri Lanka’s former central bank chiefs who is believed to be involved in a S$74 million insider trading scam.

“He assured me that whether the person is a Singapore citizen or not, they will take action. Sadly, up to now, Singapore has not responded to my call.” In February 2017, Mahendran was listed as a key suspect in a multi-million dollar bond scam. A presidential report that was released thereafter accused Mahendran of insider trading and recommended that the nation recover losses from Mahendran and his son-in-law.

 

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