Former Minister of Tourism and Aviation Prasanna Ranatunga was granted bail today (12) by the Colombo Chief Magistrate’s Court after being arrested earlier in the day by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).
According to the Bribery Commission, Ranatunga was taken into custody over allegations of causing a financial loss exceeding Rs. 4 million to the Sri Lanka Insurance Corporation in 2021.
Investigations revealed that while serving as the Minister of Tourism and Aviation, Ranatunga had allegedly intervened in the procurement process for direct insurance covers for employees of several state tourism bodies, including the Sri Lanka Tourism Development Authority, the Sri Lanka Tourism Promotion Bureau, the Sri Lanka Hotel Management Corporation, and the Sri Lanka Conventions Bureau.
The Bribery Commission said the former minister was accused of unlawfully appointing My Insurance Brokers, a private firm, to handle the insurance schemes, and directing the Sri Lanka Insurance Corporation to pay a commission of Rs. 4,750,828.72 to the company. This action is said to have provided an undue financial benefit to the private broker and resulted in a loss to the state insurer.
Ranatunga’s arrest was made under Section 70 of the Bribery Act, which deals with corruption-related offences by public officials. (Newswire)