Cabraal faces fresh case over Rs. 1.84 Billion Greek Bond loss

Former Central Bank Governor Ajith Nivard Cabraal faces a fresh High Court case over an alleged Rs. 1.84 billion loss caused to the Sri Lankan government through the purchase of Greek bonds in 2011.

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has filed the case before the Colombo High Court.

The case relates to the allegation that Cabraal caused a loss of Rs. 1,843,267,595.65 to the government by purchasing Greek bonds, despite knowing that Greece was facing a severe economic crisis at the time.

CIABOC has filed the case under Section 67(5) of the Anti-Corruption Act.

According to the Bribery Commission, Cabraal had earlier been released from the case subject to a condition that he deposit Rs. 1,843,267,595.65 into the account of the Central Bank of Sri Lanka within three months.

The Commission had earlier withdrawn the case on that condition.

However, as the amount was not deposited within the required period, CIABOC has once again taken legal action before the High Court.

On December 10, 2025, the Colombo High Court released Cabraal from the case related to the 2011 purchase of Greek bonds, subject to conditions.

On the same day, the court also ordered that the other three accused in the case be acquitted and released unconditionally.

The order was issued after CIABOC withdrew the charges, subject to certain conditions.

At the time, CIABOC informed court that it would re-file the case if the condition was not fulfilled.

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