Former Central Bank Governor Ajith Nivard Cabraal has been released from the case pertaining to the 2012 purchase of Greek Bonds, subject to conditions, Ada Derana reporter said.
The Colombo High Court has also ordered that the other three accused in the case be acquitted and released unconditionally.
The order was issued by the Colombo High Court after the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) withdrew the charges, subject to certain conditions.
Cabraal and the other defendants were accused of causing a loss of over Rs. 1.8 billion to the Sri Lankan government through the Greek T-bond investments in 2012.
The Bribery Commission states that within three months from the date of withdrawal of the indictment against the accused in terms of Section 67 (3) of the Anti-Corruption Act, he must deposit the amount of Rs. 1,843,267,595.65 as a fine into the account of the Central Bank of Sri Lanka.
If Mr. Cabraal fails to pay the said amount within the relevant period, action will be taken against him under Section 67 (5) of the Anti-Corruption Act, the Bribery Commission said in a statement.
When the case was taken up before Colombo High Court Judge Mohamed Mihal today, the Bribery Commission informed the court that the indictments filed against these accused will be withdrawn.
The Bribery Commission stated in court that it was prepared to withdraw the charges against former Central Bank Governor Ajith Nivard Cabraal, subject to the condition that the amount of Rs. 1,843,267,595.65, which was stated in the charge sheet as the amount of the losses caused to the government, be recovered as a fine.
However, President’s Counsel Dilan Ratnayake, who appeared on behalf of Mr. Cabraal, strongly objected to this request.
The Bribery Commission then informed the court that if so, the accused Mr. Cabraal should be released subject to conditions in accordance with Section 67(3) of the Anti-Corruption Act. The Commission also requested the court to release the accused subject to conditions in accordance with Section 67(3) of the Anti-Corruption Act.
