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* Court extends former Central Bank Governor’s travel ban
Mon, May 23, 2022, 11:28 am SL Time, ColomboPage News Desk, Sri Lanka.

May 23, Colombo: The Colombo Magistrate’s Court has extended the travel ban imposed on former Central Bank Governor Ajith Nivard Cabraal until July 25.

Former Governor of the Central Bank Ajith Nivard Cabraal has been named as a suspect in a personal complaint filed alleging misappropriation of funds while serving as the Governor of the Central Bank of Sri Lanka.

The complaint was taken up before Colombo Additional Magistrate Harshana Kekunawala today.

Ajith Nivard Cabraal was not present in court when the complaint was called and President’s Counsel Shavindra Fernando appeared for him. The lawyer informed the court that his client has been summoned and that he would appear before the court on the next day.

The magistrate then ordered the complaint to be heard on July 25 and extended the travel ban imposed on Mr. Cabraal until that day.

The lawyers representing the plaintiff had also requested to the court to submit a list of the names of the parties that were paid on January 18 this year in relation to international sovereign bonds to the court.

The court granted the request and directed the Central Bank to submit a list of parties who had been paid for the sovereign bonds.

Former Governor of the Southern Province Rajith Keerthi Tennakoon had lodged this personal complaint.

The complaint alleges that during his tenure as the Central Bank governor from July 1, 2006 to January 8, 2015, Mr. Cabraal had paid a sum of USD 6.5 million to Pakistani American political donor Imaad Zuberi without the Cabinet’s approval and thereby is responsible for criminal breach of trust and criminal abuse of funds.

The complaint also alleges that while serving as the Governor of the Central Bank of Sri Lanka, Mr. Cabraal caused a loss of US $ 500 million to the Government of Sri Lanka through sovereign bonds due on January 18, 2022.

The complaint alleges that the Sri Lankan government incurred a loss of Rs. 10.04 billion rupees through the appointing of close relatives to positions and from the release of confidential information on Treasury bills and bond issues, during his tenure as the Governor of the Central Bank of Sri Lanka.

 

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