Former Minister C. B. Rathnayake, who was taken into remand custody following his arrest by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), has been released on bail by the Colombo Chief Magistrate’s Court.The court ordered his release on two surety bonds of Rs. 2 million each and imposed an overseas travel restriction, according to court proceedings.
Rathnayake was arrested on December 2 after appearing before CIABOC to give a statement in connection with an investigation under the Money Laundering Act, linked to corruption-related allegations. He had remained in remand custody until today (16).
The suspect, Ratnayake Mudiyanselage Chandrasiri Bandara Rathnayake, has previously held several cabinet portfolios, including Minister of Sports, Minister of Private Transport, and Minister of Livestock.The case stems from an inquiry conducted by CIABOC’s Assets Investigation Division under Section 23(a)(1) of the Bribery Act. Investigators allege that Rathnayake unlawfully acquired assets valued at more than Rs. 57.3 million.Further legal proceedings are expected as investigations into the matter continue.
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