Former Ceylon Petroleum Corporation (CPC) Chairman Dammika Ranatunga has been arrested by the Bribery Commission over allegations of financial misconduct. He is accused of causing a loss of nearly Rs. 800 million to the state-owned oil company and is due to be produced before court today.
The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has arrested former Chairman of the Ceylon Petroleum Corporation, Dammika Ranatunga, in connection with alleged financial irregularities during his tenure.According to investigators, Ranatunga is accused of cancelling three long-term fuel procurement tenders planned for the 2017–2018 period and instead approving spot purchases at significantly higher prices. Authorities allege that this decision resulted in a financial loss of approximately Rs. 800 million to the CPC.
He is expected to be presented before the Colombo Chief Magistrate’s Court later today for further legal proceedings.
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