Politics · Sri Lanka Bureau
Former NSB Chairman Kariyawasam Released on Bail
Former National Savings Bank Chairman Pradeep Kariyawasam has been granted bail by the Colombo Magistrate's Court following his arrest by the anti-corruption authority. Kariyawasam, spouse of former Chief Justice Shirani Bandaranayake, was taken into custody as part of an investigation into suspicious financial transactions.
LSN Sri Lanka ·
The Colombo Magistrate's Court approved bail for Kariyawasam on Tuesday, a day after the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) arrested him in connection with an ongoing probe. Investigators are examining the so-called 'Siriliya Saviya' account, which has drawn scrutiny from authorities examining potential financial irregularities.
Kariyawasam's arrest marks a significant development in the CIABOC's investigation into the disputed account. As former head of the NSB, one of Sri Lanka's state-owned financial institutions, his involvement in the case has drawn considerable public attention, particularly given his family connections to the country's former judiciary.
The magistrate's decision to grant bail comes after the court heard arguments from both the prosecution and defense teams. Kariyawasam's release on bail does not conclude the investigation, which is expected to continue as authorities gather further evidence related to the financial transactions in question.
The case remains ongoing, with further court proceedings anticipated as the CIABOC pursues its inquiry into the matter.