Trial-at-bar to hear case against Ravi and others in bond scam

Ravi Karunanayake

Arjuna Mahendran

Arjun Aloysius

Attorney General Dappula de Livera yesterday requested the Chief Justice to appoint a trial-at-Bar to

hear the case against former Minister Ravi Karunanayake, Arjuna Mahendran, Arjun Aloysius and eight others over the Central Bank Bond transaction of March 2016.

According to Coordinating Secretary to the AG State Counsel Nishara Jayaratne, the decision to request the three-member trial-at-bar was made by the AG as the suspects had carried out the illegal transaction in an organised manner, which had resulted in an adverse impact on the economy and in genuine investors in Treasury bonds losing confidence in the system.

The accused have been indicted under the Penal Code, Public Properties Act as well as the Registered Stock and Securities Ordinance, and face charges including criminal misappropriation and insider trading.