Former Minister Ravi Karunanayake and eight others were remanded until March 23 by Colombo High Court Trial-at-Bar in connection with the second Central Bank bond issue that took place on March 29, 2016.
When the case came up for hearing today for the first time, all the other accused except for former Central Bank Governor Lakshman Arjuna Mahendran were present.
The Attorney General had filed indictments against ten accused including Minister Ravi Karunanayake, former Central Bank Governor Lakshman Arjuna Mahendran, PTL beneficiaries owner Arjun Joseph Aloysius, Palisena Appuhamilage Don Kasun Oshada Palisenaand, Badugoda Hewa Indika Saman Kumara.
Trial-at-Bar comprising High Court Judges DamithThotawatta, Manjula Tillekaratne and Mohammed Ishadeen made the order, following Attorney General’s objections to release the accused on bail.
Indictments had been filed against the accused under Section 56 of the Registered Securities and Exchange Ordinance for conspiracy, criminal misappropriation, and cheating and market manipulation in respect of the Bond auctions in March 2016.
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 M
