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Former Sri Lankan Finance Minister to be arrested

Former Finance Minister, Ravi Karunanayake, has been issued an arrest warrant for bond fraud.

The judgement was delivered by Colombo Fort Chief Magistrate Ranga who claims that the former Finance Minister as well as former Central Bank Governor, Arjun Mahendran, were involved in fraud at a bond auction on 29 and 31 March 2016. The Chief Minister has ordered the arrest of both Karunanayake, Mahendran and 8 others.

Sarath Fonseka, UNP MP and accused war criminal has claimed that the Minister has no options available and has chosen to go into hiding. Criminal Investigations Department (CID) officials visited the Minister’s residence at Rajamalwatta Mawatha but was unable to find the Minister after waiting for over 20 minutes.

Sri Lankan authorities have already arrested one of the suspects, Muthuraja Surendran, Director of Perpetual treasuries Limited, who was arrested yesterday and will be held until 18 March.

Read more from the Colombo Page