The Commission to Investigate Allegations of Bribery and Commission says former minister Prasanna Ranatunga has been arrested for causing a loss of over Rs.04 million to the Sri Lanka Insurance Corporation in 2021.
The former minister, who was arrested this morning, is scheduled to be produced before the Chief Magistrate’s Court in Colombo.
According to the Bribery Commission, Prasanna Ranatunga has been arrested on allegations that while serving as the Minister of Tourism and Aviation in 2021 he was involved in a corrupt transaction concerning the procurement of direct insurance covers for the employees of institutions under the Ministry of Tourism, namely 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 former minister had intervened and engaged in the illegal appointment of My Insurance Brokers, a private brokerage firm, to handle these insurance schemes and had directed the Sri Lanka Insurance Corporation to pay a commission of Rs. 4,750,828.72 to the firm, resulting in undue financial gain to the broker and a loss to the state insurer.
As such, he was arrested by the Bribery Commission for this act, which constitutes an offence punishable under Section 70 of the Bribery Act. (Newswire)
