PTL's Aloysius and Palisena's bail applications rejected

COLOMBO (News 1st) - The Colombo High Courts rejected the bail applications filed by the owner of the Perpetual Treasuries Limited (PTL), Arjun Aloysius and its CEO Kasun Palisena today (09th March). The duo had filed the applications before the Colombo High Court, challenging the rejection of a previous bail application by the Fort Magistrate. High Court Judge, Sampath Wijerathne, remarked that the bail applications are dismissed considering the fact that the order issued by the Fort Magistrate is not illegal. The Criminal Investigations Department arrested the suspects on February 4, in connection with the Central Bank bond scam. According to the investigations, the Attorney General’s Department has found proof that Arjun Aloysius and Kasun Palisena had confidential and price sensitive information on which bidding, purchasing and selling decisions were made on treasury bond deals.