The Colombo Magistrate’s Court has ordered the release on bail of the Chief Executive Officer (CEO) of an insurance company arrested in connection with a bribery incident involving a former Assistant Government Analyst, who is currently in remand custody.
The suspect was arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and produced before the court today.
Presenting evidence, CIABOC officials informed the court that investigations had revealed the suspect’s approval of payments allegedly made as bribes to the former Assistant Government Analyst.
The Commission requested the court to arrest and produce the suspect on charges of aiding and abetting corruption and offering bribes to a state official, and to remand him as investigations are ongoing.
President’s Counsel Ali Sabry, appearing for the insurance company, submitted that neither the suspect or the firm had engaged in any act of bribery.
He noted that the company had legally obtained the services of the former Assistant Government Analyst, who was permitted under the Establishments Code to provide personal services to external parties.
He further argued that the company had paid over Rs. 13 billion in compensation for vehicle and accident claims in the past, questioning why it would resort to obtaining unlawful analyst reports through bribery.
He added that over Rs. 3 billion in compensation is due to be paid in relation to recent disasters and that the suspect’s continued remand would severely hinder these operations.
Accordingly, the President’s Counsel requested that the suspect be released on bail.
After considering the submissions, the Magistrate ordered the suspect’s release on two surety bonds of Rs. 5 million each.
The Magistrate warned the suspect not to influence witnesses, stating that his bail would be cancelled and he would be remanded if such complaints are received.
The court also imposed a travel ban on the suspect and ordered him to appear before the court again on December 22, 2025.
