The Colombo High Court Trial-at-Bar will deliver its judgment today, regarding releasing eight accused including former Finance Minister Ravi Karunanayake on bail or remanding them until the end of the trial in connection with the case related to the frauds that took place at the third bond auction held on March 31, 2016.
When the case was taken up before the Colombo High Court Trial-at-Bar bench comprising High Court Judges Amal Ranaraja, Namal Balalle and Aditya Patabedige, it was announced that the judgment will be delivered today.
When the case was taken up yesterday, former Finance Minister Ravi Karunanayake, Jeffrey Joseph Aloysius, Arjun Aloysius and Kasun Palisena, Ranjan Hulugalle, Muthuraja Surendra and Indika Saman Kumara who were imprisoned in another bond scam case, were produced before the Court.
The Deputy Solicitor General Haripriya Jayasundara explained to the Court that the prosecution was opposed to granting bail to the accused after handing over the information sheet containing the indictment to the accused.
The Deputy Solicitor General stated that the accused have been charged under Section 450 (6) of the Public Property Act and the Criminal Procedure Code for misappropriation of Rs. 15 billion worth of public property Treasury bonds. Accordingly, the Deputy Solicitor General sought from the Court not to grant bail to the accused on the basis of the nature of the offense committed, the possibility of the accused evading court and causing public disturbance. The Deputy Solicitor General pointed out that the public outcry over the wrongdoings committed by the accused themselves in the bond auctions was immense and that there was a reasonable suspicion that they were obstructing the proceedings from the outset.
The Senior Deputy Solicitor General also sought from the Court to remand the accused without granting bail on the grounds that they may have evaded Court and may have influenced the witnesses.
The Senior Deputy Solicitor General sought from the Court to remand the accused until the end of the trial as all the charges have been filed against the accused under the Public Property Act and conspiracy charges.
President’s Counsels Faiz Musthapha, Shavindra Fernando, Gamini Marapana, Naveen Marapana and Attorney-at-Law Jeewantha Jayathilleke appeared for the defence.
The President’s Counsels sought from the Court to release the accused on bail on any condition and their clients have not evaded court so far and will not do so in the future.
The indictments were filed against ten accused in the Colombo High Court by the Attorney General. They are; Perpetual Treasuries Private Ltd, former Finance Minister Ravi Karunanayake, CBSL former Governor Arjuna Mahendran, Perpetual Treasuries Limited (PTL) beneficiary owner Arjun Aloysius, PTL Chief dealer Kasun Palisena, Chairman of PTL Jeffrey Joseph Aloysius, Chitta Ranjan Hulugalle, Muthuraja Surendran, Ajahn Gardiye Punchihewa, Badugoda Hewa Indika Saman Kumara.
