New indictment filed against Ajith Nivard Cabraal in High Court

21-May-2026

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The Commission to Investigate Allegations of Bribery or Corruption has filed a new indictment against former Central Bank Governor Ajith Nivard Cabraal for allegedly violating court-imposed conditions related to the Greek bond transactions.

The case was taken up before a permanent three-judge High Court bench comprising judges appointed by the Chief Justice: Manoj Thalgodapitiya (Chair), Udesh Ranatunga, and Buddhika Sri Ragala.

Previously, Cabraal and three others were charged over causing a loss exceeding Rs. 18.4 billion (Rs. 1,843,267,595.60) to the Sri Lankan government through the purchase of Greek government bonds despite knowledge of Greece’s severe financial crisis.

On 10 December last year, the Colombo High Court acquitted the other accused, including former Deputy Governor Dharmasena Dheerasinghe and Assistant Governors Don Wasantha Ananda Silva and M.A. Karunaratne, without conditions.

However, Cabraal was released conditionally and ordered to deposit the loss amount within three months in the Central Bank. The deadline expired on 10 March, and he failed to comply.

Following a special request by CIABOC Director General Ranga Dissanayake to the Chief Justice, the new indictment was filed and proceedings commenced. Cabraal, who appeared in court recently, was released on three sureties of Rs. 10 million each and barred from foreign travel. His passport was taken into court custody, fingerprints were recorded, and the case was postponed to 1 July.