Ravi, Mahendran, Arjun and others released from 13 charges in bond scam case

The Colombo High Court Trial-at-Bar yesterday ordered to release several accused including former Finance Minister Ravi Karunanayake, former Central Bank Governor Arjun Mahendran and Perpetual Treasury Director Arjun Aloysius from 13 charges in connection with the Central Bank Bond Scam issue in 2016.

Colombo High Court Trial-at-Bar bench, by majority decision, said that public property charges against the accused Perpetual Treasury cannot be maintained as it was not a natural person and could not be prosecuted under the Public Property Act.

Accordingly, the Court ordered to release 10 accused including former Finance Minister Ravi Karunanayake, former Central Bank Governor Lakshman Arjuna Mahendran, (PTL) beneficiary owner Arjun Aloysius, PTL Chief dealer Kasun Palisena, Chairman of PTL Jeffrey Joseph Aloysius, Chitta Ranjan Hulugalle, Muthuraja Surendran, Ajahn Gardiye Punchihewa and Badugoda Hewa Indika Saman Kumara from 13 charges. The Attorney General had filed indictments against them for conspiracy to commit criminal misappropriation in respect of treasury bonds to the face value of Rs. 36.98 billion on 29 March 2016.