Court to Rule on CIABOC's Submissions in Greek Bonds Case

COLOMBO (News 1st); The Colombo High Court has scheduled to deliver its order on February 21 regarding the submissions made by the Bribery Commission in the case against former Central Bank Governor Ajith Nivard Cabraal and several other defendants. 

The case involves allegations of causing a loss of approximately Rs. 1.84 billion to the government through investments in Greek bonds.

The order was set by High Court Judge R.S.S. Sapuwida following the presentation of written submissions by the Bribery Commission in response to preliminary objections raised by the defense attorneys. 

The defense had previously filed objections, claiming that the case could not proceed.

The Bribery Commission's submissions addressed these preliminary objections, and the court will now decide on the matter next month.

The case stems from allegations that in 2012, during Greece's severe economic crisis, the Central Bank of Sri Lanka, under the leadership of Nivard Cabraal, invested in Greek treasury bills, resulting in significant financial losses for the Sri Lankan government. 

The Bribery Commission has charged Cabraal, along with former Deputy Governor Dharmasena Deerasinha, Don Wasantha Ananda Silva, Chandrasiri Jayasinghe Panditha Siriwardena, and M.A. Karunaratne for the misappropriation of public funds.