Former Central Bank Governor Ajith Nivard Cabraal and 3 others were acquitted of the case on the 2011 purchase of Greek Bonds by the Colombo High Court, after the Bribery Commission (CIABOC) withdrew the charges. 

The Bribery Commission announced today that the case was withdrawn against Ajith Nivard Cabraal, subject to strict conditions laid down under the Bribery Act.

The Colombo High Court allowed the request after the first accused, Cabraal, applied for the charges to be considered for withdrawal under Section 67(1) of the Bribery Act. 

Following a review under Section 67(2), the Director General of the Bribery Commission agreed, with the Commission’s approval, to withdraw the charge under Section 67(3), on the condition that Cabraal deposits Rs. 1,843,267,595.65 as compensation for the alleged loss to the state.

According to the Commission, the amount must be paid into a designated Central Bank account within three months from Dec. 10, 2025. If the payment is not made within the deadline, charges will be refiled under Section 67(5) of the Act.

Charges against the other four accused in the case were withdrawn under Section 194(3) of the Code of Criminal Procedure, and the High Court has released them accordingly.

The Bribery Commission further clarified that media claims suggesting the accused have been acquitted or declared innocent are inaccurate, as the case has been conditionally withdrawn and may be reinstated if payment is not made. (Newswire)

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Charges were filed before the Colombo High Court against four persons, including former Central Bank Governor Ajith Nivard Cabraal, for causing a substantial loss of over Rs.1.84 billion by the purchase of Greek Bonds.

The Bribery Commission filed the charges at court today, after which the accused were released on bail of Rs.1 million each.

The Colombo High Court also imposed an overseas travel ban on the accused, ordering them to hand over their passports to the court and to obtain permission for overseas travel. 

Earlier, in May this year, the Colombo High Court released the accused, including Cabraal, from the case related to the purchase of Treasury Bonds issued by the Government of Greece in 2012.

The Bribery Commission initiated legal action against the accused based on a complaint filed by former MP Sujeewa Senasinghe.

In his complaint, Senasinghe claimed that the Central Bank had purchased Treasury Bonds issued by the Government of Greece in 2012 when the southeastern European country was experiencing a severe financial crisis.

Alleging that the Central Bank had made the purchase despite knowledge of the financial crisis faced by Greece, Senasinghe added that it had resulted in a loss of more than Rs. 1.84 billion to the Government of Sri Lanka.

Following investigations into the complaint, the Bribery Commission filed a case before the Colombo High Court against the accused. 

Legal action was initiated against Ajith Nivard Cabraal, Kankanamge Gamage Don Dharmasena Deerasinghe, Bendarage Don Wasantha Ananda Silva, Chandrasiri Jayasinghe Panditha Siriwardena and Harankaha Arachchilage Karunaratne. (Newswire)

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Former Central Bank Governor Ajith Nivard Cabraal has been released from the case related to the purchase of Treasury Bonds issued by the Government of Greece in 2012.

The Colombo High Court today released former Central Bank Governor Ajith Nivard Cabraal and three others from the case.

The case was filed against the accused alleging they had caused a loss of Rs.1.84 billion to the Government of Sri Lanka through the Greek Bond investments. 

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) initiated legal action against the five individuals based on a complaint filed by former MP Sujeewa Senasinghe.

In his complaint, Senasinghe claimed that the Central Bank had purchased Treasury Bonds issued by the Government of Greece in 2012 when the southeastern European country was experiencing a severe financial crisis.

Alleging that the Central Bank had made the purchase despite knowledge of the financial crisis faced by Greece, Senasinghe added that it had resulted in a loss of more than Rs. 1.84 billion to the Government of Sri Lanka.

Following investigations into the complaint, the Bribery Commission has filed a case before the Colombo High Court against the five individuals. 

Legal action was initiated against Ajith Nivard Cabraal, Kankanamge Gamage Don Dharmasena Deerasinghe, Bendarage Don Wasantha Ananda Silva, Chandrasiri Jayasinghe Panditha Siriwardena and Harankaha Arachchilage Karunaratne. (Newswire)

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