Bond scam: Ravi granted bail over misappropriation of Rs. 36 billion

Bond scam: Ravi granted bail over misappropriation of Rs. 36 billion

April 1, 2021   03:35 pm

Former Minister Ravi Karunanayake and seven suspects, who were accused in another bond scam case, have been granted bail.

The suspects are accused of criminal misappropriation of bonds valued at Rs. 36.98 billion during Central Bank’s 2016 bond auction.

The order was delivered upon the majority consent of the Trial-at-Bar consisting of Judges Damith Thotawatte, Manjula Thilakaratne and Mohamed Irshadeen, when the case was taken up today (April 01).

Accordingly, each suspect was released on a cash bail of Rs. 1 million and a personal bail valued at Rs. 5 million.

The judge bench, imposing an overseas travel ban on the suspects, ordered to hand over their passports to the custody of the court.

Further hearing of the case was postponed to the 11th of May.

Earlier today, they were granted bail over Rs. 15 billion bond scam case by the Trial-at-Bar hearing the legal matters on Central Bank Treasury Bond auctions held between March 29 and March 31, 2016.

Disclaimer: All the comments will be moderated by the AD editorial. Abstain from posting comments that are obscene, defamatory or slanderous. Please avoid outside hyperlinks inside the comment and avoid typing all capitalized comments. Help us delete comments that do not follow these guidelines by flagging them(mouse over a comment and click the flag icon on the right side). Do use these forums to voice your opinions and create healthy discourse.



NOTE:- Due to legal contstraints, the Ada Derana Editorial team has taken a decision to disable comments on all articles concerning ongoing court procedures.

Most Viewed Video Stories

Recommendations on admissions to KDU Medical Faculty: Annual admissions to be limited to 150 (English)

Recommendations on admissions to KDU Medical Faculty: Annual admissions to be limited to 150 (English)

'Healthcare is not just a service. It is a social necessity' - PM Harini (English)

'Japanese support for Sri Lanka's debt negotiations is commendable' – Harshana Suriyapperuma (English)

Current Tourism Act hinders inter-ministerial collaboration, Foreign Minister says (English)

LIVE🔴 Ada Derana Lunch Time News Bulletin 12.00 pm

'Will take legal action over the abduction in Weligama' - Minister (English)

Four provinces identified as high-risk zones for spread of dengue (English)

Vocational education will be crucial for Sri Lanka's renaissance – PM Harini (English)