UPDATE : Travel bans issued against Ravi Karunanayake and 11 others linked to 2016 bond scam

Colombo (News 1st) - Colombo Fort Magistrate Ranga Dissanayaka imposed a travel ban on eleven individuals including former minister Ravi Karunanayake, Arjuna Mahendran and Arjun Aloysius today. The ruling on issuing the arrest warrant on the suspects for their alleged involvement in the 2016 bond scam is set to be delivered on the 6th of March. The Attorney General yesterday instructed the Acting IGP to arrest 11 individuals over their involvement in irregularities which had taken place during bond issuances of the Central Bank of the 27th and 31st of March 2016. Accordingly, Senior Deputy Solicitor General Haripriya Jayasundara made the relevant submissions to court today. During the court proceeding, the Senior Deputy Solicitor General provided an extensive explanation on the report of the Presidential Commission which investigated the bond scam. She stated that losses amounting to Rs 51.98 billion had occured as a result of the irregularities which had taken place in both bond issuances. The Senior Deputy Solicitor General requested court to impose a travel ban on 11 individuals out of the 12 parties and to issue a warrant for their arrest. Fort Magistrate Ranga Dissanayake pointed out that based on the submissions made before court, the Criminal Investigation Department did not require a warrant to arrest the suspects. However, the Senior Deputy Solicitor General cited the need for arrest warrants given the inconveniences that could be faced while arresting the suspects due to their social status. Meanwhile, President's Counsel Rienzie Arsecularatne appearing for former minister Ravi Karunanayake requested court to grant an opportunity for his client to make submissions before court. However, Fort Magistrate Ranga Dissanayake rejected the request citing that room should not be given to such intervention based on the information being revealed through the media. The Fort Magistrate while issuing an order to obtain statements from the accused prior to obtaining arrest warrants, recorded a statement from the CID's Chief Police Inspector Sanjeewani Keppetipola. The Attorney General has instructed the Acting IGP to obtain warrants for the arrest of Perpetual Treasuries Limited, former minister Ravi Karunanayake, Arjuna Mahendran, Arjun Aloysius, Kasun Palisena, Geoffrey Aloysius, Ranjan Hulugalle, Muththuraja Surendran, Ajahn Punchihewa, Buddhika Sarathchandra, Sangarapilla Padumanaapan, and Indika Saman Kumara. Meanwhile, former minister Ravi Karunanayake speaking to the media noted that leveling absurd allegations soon after Parliament is dissolved is a serious problem. While reminding that none of the banks including the Central Bank were under his purview during his term as Finance Minister, Karunanayake believes that this is an issue being created targetting the upcoming general election. He described this action as a conspiracy as the action was taken immediately after Parliament was dissolved after officials dragged their feet for several years.