Ajith Nivard Cabraal and others indicted in Greek bond case

Friday, 11 October 2024 00:08 - - {{hitsCtrl.values.hits}}

Indictments were filed against former Central Bank Governor Ajith Nivard Cabraal and three other accused before the Colombo High Court yesterday in connection with the Greek bond case.

The charges, brought forward by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), allege that Cabraal and the other accused caused a loss exceeding Rs. 1.8 billion to the Sri Lankan Government by investing government funds in Greek bonds during a period of economic downturn in Greece.

After the indictments were handed over, each of the accused was released on bail set at Rs. 10 million. Additionally, the court imposed a travel ban on the defendants and ordered their fingerprints to be taken, with a report expected in due course.

The defence counsels also stated their intention to raise preliminary objections to the legality of the indictments and the charges. They also appealed for suitable bail, emphasising the defendants’ cooperation with the investigation and consistent court appearances.

The representative from the CIABOC requested the court to issue an appropriate order concerning bail. In delivering the ruling, the judge noted that the accused had not interfered with the investigation and thus did not need to be remanded. As a result, bail was granted. The case has been scheduled to be called again on 6 December to address the preliminary objections.