Ex-Finance Minister Ravi Karunanayake, 7 others remanded over bond scam

• HC remands Ravi K and others over bond auctions of March 2016
• AG objects to bail, suspects remanded till 23 March 
• Accused face charges of criminal misappropriation, insider trading, among others

Former Finance Minister Ravi Karunanayake and seven other suspects were remanded till 23 March yesterday by the High Court Trial at Bar over the 2016 Central Bank bond scam.

The judges of the Trial at Bar were High Court Judges Damith Thotawatte, Manjula Thilakaratne and Mohammed Irshedeen.

While lawyers for the accused requested bail for their clients, Senior Deputy Solicitor General Haripriya Jayasundara, appearing for the Attorney General, objected to bail.

The Court then ordered that the suspects be remanded in custody till 23 March.

Last morning, the Attorney General filed indictments against the eight accused for their role in the CB bond auctions between 29 and 31 March 2016.

In addition to Karunanayake, the other suspects include former CB Governor Arjuna Mahendran and Arjun Aloysius of Perpetual Treasuries.

The accused are indicted under the Penal Code, Public Properties Act as well as the Registered Stock and Securities Ordinance; and face charges, including criminal misappropriation and insider trading.