The Colombo High Court today ordered the release of five defendants, including former Central Bank Governor Ajith Nivard Cabral, who were accused of causing a loss of 1.84 billion rupees to the government by investing in Greek bonds in 2012.
The lawyers representing the defendants raised initial objections, arguing that the case filed by the Bribery or Corruption Prevention Commission could not be maintained. They pointed out that a Director General had not been appointed under the new Anti-Corruption Act as of March 26, when the indictment was signed. A Director General was appointed under the new Anti-Corruption Act only on April 2.
The High Court accepted the protest and determined that it was against the law for the Director General appointed under the old Act to sign a charge sheet presented under the new Anti-Corruption Act. Accordingly, the judge ordered the release of Ajith Nivard Cabral, Don Dharmasena Dheerasinghe of Kankanam village, Don Vasantha Ananda Silva of Bendera, Chandrasiri Jayasinghe Pandita Siriwardena, and Karunaratne of Harankaha Arachchila from the case.
The complaint related to this case was submitted by United National Party Member of Parliament Sujeewa Serasinghe to the Bribery or Corruption Investigation Commission in 2012. He claimed that the Central Bank of Sri Lanka’s purchase of bonds in Greece was an illegal investment, resulting in a loss of crores of public money.
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