Rs. 1.84 BN Unpaid: New Indictments Against Cabraal

COLOMBO (News 1st); The Commission to Investigate Allegations of Bribery or Corruption has filed indictments against former Central Bank Governor Ajith Nivard Cabraal for violating conditions imposed in the Greek bonds case.

According to the Bribery Commission, the indictments have been filed before a permanent High Court trial-at-bar appointed by the Chief Justice to hear the case.

The bench comprises Judges Manoj Thalgodapitiya, Udesh Ranatunga and Buddhika Sri Ragala.

The case centers on Cabraal’s failure to pay more than Rs. 1.84 billion, the amount he was ordered to remit under the conditions of his release in connection with the Greek bonds transaction.

The Bribery Commission had launched an investigation after it was alleged that Sri Lanka suffered a loss exceeding Rs. 1.84 billion due to the purchase of Greek government bonds at a time when Greece was facing a severe economic crisis, despite being fully aware of that situation.

Indictments in the case were filed against former Central Bank Governor Ajith Nivard Cabraal, former Deputy Governor Dharmasena Dheerasinghe, and Assistant Governors Don Wasantha Ananda Silva and M. A. Karunaratne.

On December 10 last year, the Colombo High Court ordered the conditional release of Ajith Nivard Cabraal, while granting unconditional release to the three other accused.

Under the conditions of Cabraal’s release, he was required to credit the Central Bank of Sri Lanka with the loss of over Rs. 1.84 billion incurred from the transaction within a period of three months.

That period ended on March 10.

Following the lapse of the stipulated time, the Bribery Commission requested the Chief Justice to appoint a permanent High Court trial-at-bar to hear the case, leading to the filing of fresh indictments.