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Sunday, June 23, 2024

Cabraal and Co-Defendants Released in Greek Bond Case

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The Colombo High Court today (31) ordered the release of former Governor of the Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal and three other defendants in a case alleging financial losses to the government through 2012 investments in Greek treasury bonds.

The attorneys who appeared on behalf of the former CBSL chief had raised objections that the relevant case filed by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) cannot be maintained. The Colombo High Court Judge Adithya Patabendige, who accepted the relevant objections, ordered the release of Ajith Nivard Cabraal and the co-defendants of the case.

The 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. On 03 May 2024, Cabraal’s attorneys raised preliminary objections, leading to today’s decision to dismiss the case and release the defendants.

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