- Last Update 2024-07-17 16:41:00
Cabraal released on bail over alleged financial irregularities case
Former Central Bank Governor Ajith Nivard Cabraal was today released on bail by the Colombo Fort Magistrate's Court following the filing of a private plaint for alleged financial irregularities that occurred when he was acting as the Governor of the Central Bank in 2014.
The case was brought against Cabraal by the Venerable Thiniyawala Palitha Thero, who accused him of misappropriating state monies while acting as Governor of the Central Bank.
According to the accusation, Cabraal paid a sum of USD 6.5 million to an American national without the Cabinet's approval throughout his service as CB Governor from 2006 to 2015, and is thus accountable for criminal breach of trust and criminal abuse of funds.
Cabraal was released on personal bail of Rs. 10 million by the Court.
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