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Bond scam: Ravi, six others released on bail

FILE PHOTO – Former Finance Minister Ravi Karunanayake

ECONOMYNEXT – Former Finance Minister Ravi Karunanayake and six others who had been remanded over the alleged March 2016 bond scam were released on bail today, a spokesman for Karunanayake confirmed.

The suspects were remanded on March 17 over alleged links to the misappropriation of Rs 15 billion through the March 31 2016 bond auction.

The Colombo High Court trial-at-bar ordered the release of the accused on Rs 1 million cash bail each and two surety bails of Rs 10 million each, while also imposing a travel ban.

The release applies to only one case, however, with a second case pertaining to the same alleged scam to be taken up this afternoon. (Colombo/Apr1/2021)

Related: RaviK, Aloysius and five others remanded over alleged Bonds Scam

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