FactSeeker observed news being shared on social media claiming that former Central Bank Governor Ajith Nivard Cabraal and 3 other defendants were ‘acquitted and released’ from the case related to Greek bonds.

Social Media Post:

Similarly, a video released by former Central Bank Governor Ajith Nivard Cabraal regarding this was also shared on major news websites, in which he stated that he was ‘acquitted and released’.

Link: https://www.youtube.com/watch?v=_87SDj-q9hk

However, the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) issued a statement clarifying that Ajith Nivard Cabraal was not ‘acquitted and released,’ and indicated that the shared news was false.

CIABOC Statement:

Given the discrepancy between the statement issued by the CIABOC and the news circulating in the media and social networks, FactSeeker decided to investigate the truth of the matter.

FactSeeker focused on the lawsuit against the former Central Bank Governor Ajith Nivard Cabraal and the other three individuals, as well as the court’s verdict.

The Case and Court Proceedings

The CIABOC filed the case against former Central Bank Governor Ajith Nivard Cabraal, former Deputy Governor Dharmasena Dheerasinghe, and Assistant Governors Don Wasantha Ananda Silva and M.A. Karunaratne. The allegation was that they caused a loss of over Rs. 184 million to the government by purchasing Greek Government Bonds, despite Greece being in a severe economic crisis.

When the case came up for hearing before Colombo High Court Judge Mohamed Mihal on Tuesday (December 10), the CIABOC informed the court that it was withdrawing the indictment filed against the four accused.

The CIABOC then requested the court to release the first accused, former Central Bank Governor Ajith Nivard Cabraal, from the case on the condition that he pay the penalty of Rs. 184 million lost to the government due to the purchase of Greek Government Bonds, as stipulated in the indictment, by citing provisions of the Anti-Corruption Act.

President’s Counsel Dilan Rathnayaka, appearing on behalf of the accused Ajith Nivard Cabraal, objected to this. The Commission then announced that the first defendant could be released from the case under Section 67 of the Anti-Corruption Act.

However, the Commission requested that the other defendants be released and discharged under Section 194(3) of the Code of Criminal Procedure.

Taking these submissions into consideration, the Judge conditionally released the first defendant, former Central Bank Governor Ajith Nivard Cabraal, from the case under Section 67 of the Anti-Corruption Act. At the same time, the other defendants—former Deputy Governor Dharmasena Dheerasinghe, and Assistant Governors Don Wasantha Ananda Silva and M.A. Karunaratne—were released and discharged unconditionally under Section 194(3) of the Code of Criminal Procedure.

The Conditions for Release

According to the court verdict, the former Central Bank Governor Ajith Nivard Cabraal has been released with a condition.

The condition is:

Ajith Nivard Cabraal must pay Rs. 1,843,267,595.65 within the next 3 months.

It is noteworthy that if he fails to pay, legal action can be pursued against him regarding the charges in the same indictment after the three-month period.

What Does Section 67 of the Anti-Corruption Act State?

FactSeeker examined the provisions of Section 67 of the Anti-Corruption Act.

Section 67 of the Anti-Corruption Act allows for the withdrawal of indictments before judgment. This is a structured and conditional mechanism subject to conditions such as restitution (compensation), public apology, accountability, and even lifetime disqualification from holding office.

Former Justice Minister Ali Sabry made a post on his X (formerly Twitter) page, where he provided an explanation of this verdict.

https://x.com/alisabrypc/status/1998752256980832640?s=20

Conclusion

Therefore, the factual news is that according to the court’s verdict, Ajith Nivard Cabraal has been conditionally released, and the condition is that he must pay Rs. 1,843,267,595.65 within the next 3 months.

The claim made by Ajith Nivard Cabraal in his video, stating that he was ‘acquitted and released’ without mentioning these crucial conditions, is a misrepresentation of the facts.

FactSeeker confirms that the news circulating on social media claiming that Ajith Nivard Cabraal was ‘acquitted and released’ is false.