The Attorney General has filed an applicationchallenging the order of the Colombo High Court Trial-at-Bar to release former Minister Ravi Karunanayake and Seven others on bail, in connection with two separate cases related to the frauds that took place at the third bond auction held on March 29 and 31, 2016.

Through this application, the Attorney General is seeking an order to set aside the bail order made by Colombo High Court Trial-at-Bar to release the accused on bail on April 1 this year.

Former Finance Minister Ravi Karunanayake, Perpetual Treasuries Limited (PTL) beneficiary owner Arjun Aloysius, PTL Chief Dealer KasunPalisena, Chairman of PTL Jeffrey Joseph Aloysius, Chitta Ranjan Hulugalle, an executive officer of the Public Debt Department of the Central Bank Sangarapillai Padumanathan and, an executive officer of the Employees Provident Fund Indika Saman Kumara were released on bail by Colombo High Court Trial-at-Bar bench comprising High Court Judges DamithThotawatte, Manjula Tilakaratne and Mohamed Isurdeen.

The Attorney General alleged that the accused could be charged for conspiracy to commit criminal misappropriation in respect of treasury bonds to the face value of Rs.36.98 billion and 15 billion respectively in March, 2016.


Please enter your comment!
Please enter your name here