Causing Rs 1.8 bn loss through Greek T-bond investments: Cabraal, others acquitted and discharged

The Colombo High Court yesterday (31) ordered the release of former Central Bank Governor Ajith Nivard Cabraal and three other defendants in a case filed against them alleging financial losses caused to the government as a result of investments in Greek Treasury bonds in 2012.

The counsel for the former CBSL Chief told court that the relevant case filed by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) couldn’t be maintained.

The Colombo High Court Judge Adithya Patabendige, who accepted their objections, ordered the release of Ajith Nivard Cabraal and the co-defendants.

The defendants were accused of causing a loss of over Rs. 1.8 billion to the Sri Lankan government through the Greek Treasury bond investments in 2012.

On 03 May 2024, Cabraal’s attorneys raised preliminary objections, leading to yesterday’s declaration that the case couldn’t be maintained.