Courts issues arrest warrants against Ravi & 9 others over CB bond scam

Colombo Fort Magistrate Courts today issued arrest warrants against former Finance Minister Ravi Karunanayake and nine others over the Central Bank Bond scam. 

When the case was taken up for hearing earlier today, a questionnaire was handed over to Senior Deputy Solicitor General Haripirya Jayasundare by the Courts, requesting to provide answers on further information and submit in written form to the courts. 

Ms. Jayasundare informed the courts that they will be able to obtain answers on behalf of the Attorney General and hand over the written submission including answers by 2.00 p.m. The case will be taken at 2.30 p.m. today. 

On a previous day, Presidents’ Counsel Rienzie Arsecularatne requested to appear on behalf of Mr. Karunanayake and to give submissions to court. 

However, the Judge informed courts today that there is no legal provisions for a lawyer to appear on behalf of a suspect prior to the commencement of a court case. 

Early this week, the Attorney General (AG) directed the Acting Inspector General of Police (IGP) to obtain arrest warrants from Courts to arrest former Minister Ravi Karunanayake, former Governor of the Central Bank of Sri Lanka (CBSL) Arjuna Mahendran, Director of Perpetual Treasuries Limited (PTL) Arjun Aloysius, CEO of PTL Kasun Palisena, former Director of the Public Debt Department of CBSL Sarathchandra and several others on charges of conspiracy, criminal misappropriation, cheating and market manipulation in respect of the bond auctions of March 2016.

The Magistrate noted that there was sufficient evidence to proceed with the case and therefore was issuing the arrest warrants.

However, regarding one of the suspects, a former Central Bank official, Buddika Sarathchandra, the Magistrate noted since there wasn’t sufficient evidence he is not issuing a warrant or summons.