Nivard Cabraal released on Rs. 10 m bail

By T. Farook Thajudeen

The Colombo Fort Magistrate’s Court yesterday released former Central Bank Governor Ajith Nivard Cabraal on Rs. 10 million surety bail in the case filed against him allegedly over financial offences that took place during his office as Central Bank Governor in 2014. 

Colombo Fort Magistrate Thilina Gamage released Cabraal consequent to his appearing in court yesterday on a notice issued in a private case filed against him by Ven. Thiniyawala Palitha Thera in terms of section 136 (1)(a) of the Code of Criminal Procedure Act.

The Fort Magistrate had earlier restrained Cabraal from leaving the country by a travel ban imposed and had noticed him to appear before court yesterday.

The petitioner Ven. Thiniyawala Palitha Thera alleged that during the period 2014, Ajith Nivard Cabraal functioning as the Central Bank Governor had paid $ 6.5 million through the Central Bank to an American businessman named Imaad Shah Zuberi, who was a CIA mole, to buy influence and fix its image in the USA.

The petitioner further said the US Court had held that out of the said money given to him on behalf of Sri Lankan taxpayers, $ 5.6 million or 80% of it had been spent on himself and his wife.

The petitioner said Cabraal had paid $ 6.5 million without having prior approval by violating Article 150 of the Constitution.

The case was postponed to 23 August.