Cabraal's travel ban extended to October 2022

COLOMBO (News 1st); The travel ban imposed on Ex-Central Bank Governor Ajith Nivard Cabraal was extended to 26th October by the Colombo Magistrate's Court on Monday (25).

The order was made by Colombo Additional Magistrate Harshana Kekunawela after considering a complaint filed by Ex-Provincial Governor Keerthi Thennakoon.

The complaint was filed under six individual charges accusing Cabraal of misusing public funds during his tenure as the CBSL Governor.

Cabraal was also the 12th Governor of the Central Bank of Sri Lanka from July 2006 to January 2015, and the complaint noted that during that period he caused a loss of Rs. 10.06 Bn to the government by selling Treasury Bonds and Bills from the Central Bank to close associates.

Another charge is that Cabraal was involved in revealing insider information.

It also goes on to state that during his tenure as the Central Bank governor Cabraal paid USD 6.5 million to 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, Cabraal caused a loss of US$ 500 million to the Government in Sovereign Bonds from 15th September 2021, to 4th April 2022.