Rs. 1.84 Billion Greek Bond Loss: Cabraal Must Repay In 3 Months

COLOMBO (News 1st); The Commission to Investigate Allegations of Bribery or Corruption withdrew the indictment against former Central Bank Governor Ajith Nivard Cabraal, which was filed over the controversial Greek bond investment loss amounting to Rs. 1,843,267,595.65/-.

The decision was announced during proceedings before Colombo High Court Judge Mohamed Mihail.

Under the withdrawal conditions, the accused must reimburse the loss to the Central Bank of Sri Lanka within three months from today.

Failure to comply will result in fresh indictments being filed, the Commission to Investigate Allegations of Bribery or Corruption stated.

The case alleged that during Greece’s economic crisis, the accused knowingly caused a loss exceeding Rs. 1.84 billion to the government by purchasing Greek Treasury bonds issued by the Greek government.

Other respondents in the case included former Deputy Governor Dharmasena Dheerasinghe and Assistant Governors Don Wasantha Ananda Silva and M.A. Karunaratne.

These three individuals were unconditionally discharged by the Colombo High Court today.