Colombo High Court Judge Mohamed Mihail today (10) ordered the release and acquittal of former Central Bank Governor Ajith Nivard Cabraal and three other accused in the case related to the Greek bond transaction, following the withdrawal of the indictment by the Commission to Investigate Allegations of Bribery or Corruption.
The Bribery Commission had filed this case alleging that although Greece was facing a severe economic crisis in 2011, the Central Bank knowingly purchased treasury bills issued by the Greek government, causing a loss exceeding Rs. 1.84 billion to the Sri Lankan government.
President’s Counsels Dilshan Ratnayake and Nalin Laddu Hettiarachchi had submitted written submissions stating that the Commission’s decision to proceed with the case was unjustifiable, as the Supreme Court had already issued an order confirming that the Greek bond transaction had been carried out legally and in accordance with Central Bank regulations and financial reporting rules.
Accordingly, as the Bribery Commission itself withdrew the indictment against the four accused, the High Court ordered that they be acquitted and released.
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