Former Minister Prasanna Ranatunga was granted bail today (12) after being arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) over allegations of misappropriating public funds.
The bail order was issued by Colombo Chief Magistrate Asanga S. Bodaragama, following submissions made by officials from the Bribery Commission and the defense counsel representing the former minister.
Ranatunga was released on cash bail of Rs. 100,000 and two surety bails of Rs. 500,000 each. The Magistrate also imposed a travel ban, preventing him from leaving the country. The case is scheduled to be heard again on January 16, 2026.
Earlier in the day, Ranatunga was taken into custody after providing a statement to the Bribery Commission. He faces accusations of misappropriating over Rs. 4.7 million in public funds, allegedly causing financial losses to the Sri Lanka Insurance Corporation (SLIC).
According to investigators, the former minister is suspected of illegally appointing a private brokerage firm to handle direct medical insurance coverage for employees of four institutions under the Ministry of Tourism, resulting in a loss of Rs. 4,750,828.72 to SLIC.
Ranatunga, a prominent political figure and former Cabinet Minister, has previously faced several inquiries related to his ministerial tenure, but this case marks one of the most significant corruption allegations brought against him in recent years.
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