Ravi granted bail over 2016 bond scam

Former Minister Ravi Karunanayake was granted bail over the 2016 Central Bank bond scam.

Karunanayake and six others were granted bail in two cases linked to the scam.

The former Finance Minister was arrested on 17th March and was remanded till today.

Two trial-at-bars were appointed in February to hear the cases filed on the two bond auctions linked to the Central Bank bond scam.

Ravi Karunanayake was later arrested after Attorney General (AG) Dappula de Livera had filed indictments before the trial-at-bar hearing the case on the bond scam.

Karunanayake and the other suspects were accused of misappropriating funds to the value of Rs. 1.5 billion in one case.

They were accused of misappropriating the funds during the second bond auction carried out on 31st March 2016. 

Karunanayake was also released from the other case filed pertaining to the 2016 Central Bank bond scam.

The Colombo High Court today decided to grant bail to Karunanayake and six other suspects accused over the scam.

They were accused of misappropriating Rs. 39.98 billion in the second bond auction.(Colombo Gazette)