Ex-CBSL Governor Cabraal faces legal action over alleged Treasury Bill fraud

Friday, 29 March 2024 00:34 - - {{hitsCtrl.values.hits}}

Nivard Cabraal

Complaint lodged by former MP Sujeewa Senasinghe relates to purchase of T-Bills issued by Greece causing loss of over Rs. 1. 8 b to Govt.

The Commission to Investigate Allegations of Bribery or Corruption has initiated legal proceedings against former Central Bank Governor Ajith Nivard Cabraal and four others for allegedly causing a loss of Rs. 1,843.3 million to the government through the purchase of Treasury Bills.

According to the Commission, the case was filed before the Colombo High Court following investigations into a complaint lodged by former Parliamentarian Sujeewa Senasinghe.

The complaint relates to the purchase of Treasury Bills issued by the Government of Greece during the country’s financial crisis in 2012. It is alleged in the complaint that the purchase of these Treasury Bills, made with prior knowledge of the crisis, resulted in a staggering loss of Rs. 1,843,267,595 to the Government.

Subsequently, after concluding their investigations, the Commission proceeded to file a case against Ajith Nivard Cabraal, Kankanamge Gamage Don Dharmasena Deerasinghe, Bendarage Don Wasantha Ananda Silva, Chandrasiri Jayasinghe Panditha Siriwardena, and Harankaha Arachchilage Karunaratne before the Colombo High Court under Case No. HCB 271/2024.