Former Minister Prasanna Ranatunga, who was arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), earlier today (12) on allegations of misappropriating public funds, has been granted bail.
The order was issued by Colombo Chief Magistrate Asanga S. Bodaragama after considering the submissions made by officials of the Bribery Commission and the suspect’s attorneys.
Accordingly, the Magistrate ordered that the suspect be released on a cash bail of Rs. 100,000 and two surety bails of Rs. 500,000 each.
The former Minister has also been banned from leaving the country.
The case has been scheduled to be taken up again on January 16, 2026.
Former Minister Prasanna Ranatunga was arrested this morning after recording a statement with the Bribery Commission.
He was taken into custody on charges of misappropriating public funds, resulting in a loss of over Rs. 4.7 million to the Sri Lanka Insurance Corporation (SLIC).
Prasanna Ranatunga is accused of unlawfully appointing a private broker firm for direct medical insurance coverage provided to employees of four institutions under the Ministry of Tourism, causing a financial loss of Rs. 4,750,828.72 to the Sri Lanka Insurance Corporation.
