Ajith Nivard Cabraal and 4 others released from 2012 Greek Bonds case

Ajith Nivard Cabraal

The Colombo High Court today (May 31), has ordered the release of former Governor of the Central Bank of Sri Lanka (CBSL), Ajith Nivard Cabraal, and four other defendants in a case filed against them.

The case alleges financial losses to the Sri Lankan government due to investments in Greek treasury bonds in 2012.

Attorneys representing the former CBSL chief objected to the case filed by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC). They argued that it could not be maintained.

Accepting these objections, Colombo High Court Judge Adithya Patabendige ordered the release of Ajith Nivard Cabraal and the other defendants.

They were accused of causing a loss of over Rs. 1.8 billion to the Sri Lankan government through investments in Greek T-bonds in 2012.

On May 3rd, 2024, Cabraal’s attorneys raised preliminary objections, leading to today’s decision to dismiss the case and release the defendants.