The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) on Monday informed court that it will arrest and produce former minister Arjuna Ranatunga in connection with an investigation into an alleged financial loss of nearly Rs. 800 million to the Ceylon Petroleum Corporation (CPC).
The Bribery Commission said Ranatunga has been named as a suspect in a case involving irregular fuel tenders awarded at inflated prices, which investigators allege caused significant losses to the State-owned petroleum entity.
Earlier on Monday, Ranatunga’s brother, Dhammika Ranatunga, who served as Chairman of the CPC during the relevant period, was arrested by CIABOC in connection with the same investigation. He was later granted bail by court.
According to investigators, the alleged offences relate to procurement decisions taken during Dhammika Ranatunga’s tenure as CPC chairman.
CIABOC told court that further steps are being taken to arrest Arjuna Ranatunga and produce him before court as investigations continue.
Neither Arjuna Ranatunga nor Dhammika Ranatunga has publicly responded to the allegations. There was no immediate comment from their representatives at the time of reporting.
The Bribery Commission continues to investigate several high-profile cases involving alleged corruption and financial misconduct at State-owned institutions. (Newswire)