AG files appeal against granting bail to Bond Scam suspects | Daily News

AG files appeal against granting bail to Bond Scam suspects

Attorney General Dappula de Livera filed an appeal in the Supreme Court challenging the order of the Colombo High Court Trial-at-Bar granting bail to the suspects in the Treasury Bond Scam case involving the Bond auction in 2016, Coordinating Officer to the Attorney General State Counsel Nishara Jayaratne said.

On April 1, Former Minister Ravi Karunanayake and Seven others, who were remanded in connection with two separate cases related to the frauds that took place at the third bond auction held on March 29 and 31, 2016, were released on bail by the Colombo High Court Trial-at-Bar.

The Colombo High Court Trial-at-Bar issued the order for bail rejecting the  application made by the prosecution to have the accused remanded until the end of the case.

Accordingly, Former Finance Minister Ravi Karunanayake, Perpetual Treasuries Limited (PTL) beneficiary owner Arjun Aloysius, PTL Chief Dealer Kasun Palisena, Chairman of PTL Jeffrey Joseph Aloysius, Chitta Ranjan Hulugalle, an executive officer of the Public Debt Department of the Central Bank Sangarapillai Padumanathan and, an executive officer of the Employees Provident Fund Indika Saman Kumara were released on bail.

The Colombo High Court Trial-at-Bar granted bail to each of the accused on a cash bail of Rs. 1 million and two sureties of Rs.10 million.

The indictments were filed against the 10 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.

The Attorney General alleged that the accused could be charged for conspiracy to commit criminal misappropriation in respect of treasury bonds to the face value of Rs. 36.98 billion and Rs. 15 billion respectively in March, 2016.