Cabraal Indicted Over Greek Securities Purchase

COLOMBO (News 1st); Former Central Bank Governor Ajith Nivard Cabraal and three other defendants were formally indicted today (10) in the presence of Colombo High Court Judge R.S.S. Sapuwida. 

The charges relate to the alleged purchase of Greek treasury bills in 2012, which resulted in a loss exceeding Rs. 1.84 billion to the Sri Lankan government during Greece's severe economic crisis.

During the court proceedings, defense attorneys argued that the defendants had fully cooperated with the investigations from the outset, and therefore, there was no need to remand them in custody. 

Taking these arguments into consideration, the judge ordered the release of each defendant on a bail bond of Rs. 10 million, each.

Additionally, the judge imposed a travel ban on the defendants and ordered them to surrender their passports to the court. 

Defense attorneys also highlighted that the Supreme Court had issued an order regarding the appointment of the Director General of the Commission to Investigate Allegations of Bribery or Corruption, who signed the indictments.

The defense indicated their intention to file preliminary objections against the indictments at the next hearing. 

Consequently, the judge scheduled the next court date for December 6th to address these objections and compliance with bail conditions.

The defendants in this case include former Central Bank Governor Ajith Nivard Cabraal, former Deputy Governor Dharmasena Dheerasinghe, Don Wasantha Ananda Silva, Chandrasiri Jayasinghe Panditha Siriwardena, and M.A. Karunaratne.