The Commission to Investigate Allegations of Bribery or Corruption has filed fresh indictments against former Central Bank Governor Ajith Nivard Cabraal for failing to comply with conditions imposed in the Greek bonds case, NewsFirst reported on Tuesday.
The indictments were filed before a permanent High Court trial-at-bar appointed by the Chief Justice. The bench comprises Judges Manoj Thalgodapitiya, Udesh Ranatunga and Buddhika Sri Ragala.
The case centres on Cabraal’s failure to pay more than Rs. 1.84 billion — the loss the state allegedly suffered when the Central Bank purchased Greek government bonds at the height of Greece’s economic crisis despite being fully aware of the country’s distress. CIABOC’s investigation found the transaction caused a loss exceeding that amount.
Indictments have also been filed against former Deputy Governor Dharmasena Dheerasinghe and Assistant Governors Don Wasantha Ananda Silva and M. A. Karunaratne.
On December 10, 2025, the Colombo High Court ordered the conditional release of Cabraal while granting unconditional release to the three other accused. The condition required Cabraal to credit the Central Bank with the Rs. 1.84 billion loss within three months. That period ended on March 10, 2026.
When the deadline lapsed without payment, CIABOC asked the Chief Justice to appoint a permanent trial-at-bar — a request that has now produced today’s fresh indictments. The development escalates the Greek bonds prosecution, which had restarted on May 3 after the December conditional release.
On May 7, both Ada Derana and Newswire confirmed the case has been formally refiled under Section 67(5) of the Anti-Corruption Act, the specific statutory provision invoked after the Rs. 100 million condition was breached. The Bribery Commission had earlier moved to withdraw the case on the assumption the deposit would be made; legal proceedings were reinitiated once the agreed period lapsed without payment.
