2016 Bond Scam defendants released on bail by majority decision

Colombo (News 1st); The Colombo Permanent High Court Trial-at-Bar on Thursday (01) by a majority decision ordered to release on bail 08 defendants in the Central Bank Treasury Bond Scam that took place on the 29th of March 2016.

The 08 defendants were charged with criminal misappropriation of Rs. 36.98 Billion at the said Treasury Bond Auction. Chairman of the bench Justice Damith Thotawatte and Justice Mohamed Isadeen decided to grant bail to the defendants, however, Justice Manjula Tillakaratne decided to reject the bail application. However, based on the majority decision the defendants were ordered to be released on a cash bail of Rs. 01 Million each and 02 personal bails of Rs. 05 Million each, per defendant. The court ordered that one of the two people who appear to post personal bonds for the defendants should be a close relative and the other should not a relative at all. Further, the court ordered that necessary documentation should be provided to prove the identities and relationships of the bondsman. In addition, the court ordered that if the defendants by any means exert influence on the witnesses or the investigations, bail will be revoked and the defendants will be placed on remand until the end of the trial. The defendants were also barred from traveling overseas until the end of the trial and they were ordered to surrender their passports to the court. The case will be called up again on the 11th of April. For the prosecution Additional Solicitor General Priyantha Nawana, P. C. appeared along with Senior Deputy Solicitor General Harippriya Jayasundara, Senior State Counsel Lakmini Girihagama, State Counsel Udara Thilakarathne and State Counsel Chathuri Wijesuriya.