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Ex-NSB Chief released on Rs. 20 m bail

By T. Farook Thajudeen-March 1, 2013
The former chairman of NSB, Pradeep Kariyawasam, who is facing corruption charges in court, was released yesterday on surety bail of Rs. 20 million.
Kariyawasam is facing charges before the Colombo Chief Magistrate’s Court for causing a monetary loss to the Government to the tune of over Rs. 391 million through the unlawful purchase of shares of The Finance Company (TFC).

Former National Savings Bank (NSB) chairman Pradeep Kariyawasam (left) was released on two personal bails of Rs. 10 million each by the Colombo Magistrate’s Court yesterday – Pix by Pradeep Pathirana

The case was taken up before Colombo Chief Magistrate Rashmi Singappuli yesterday. Appearing on behalf of the Bribery Commission, the Commission’s Assistant Director (Legal) Asitha Anthony initially asked that the case be kept down since two State Counsels from the Attorney General’s Department were due to appear in court to make submissions.

When the case was subsequently taken up for inquiry, Deputy Solicitor General Suhada Gamlath appearing with Deputy Director (Legal) of the Attorney General’s Office Sunethra Jayasinghe, submitted that following the filing of charges before the Magistrate Court, the Commission had found some additional offences alleged to have been committed by the suspect.
The AG’s Department moved for time to file the amended charge sheet with the extracts of the investigations. Appearing for Kariyawasam, Senior Counsel Saliya Pieris and a team of lawyers submitted that if the prosecution was amending the charges, they should be accepted only subject to the objections of the defence. He said that there was a question for the defence over the jurisdiction of the court to accept the amended plaint subject to the objections
The Chief Magistrate ordered the prosecution to file the amended charges subjected to the objections of the defence on 26 April. Thereafter, Senior Counsel Pieris moved to release Kariyawasam on bail. The Court ordered his release on Rs. 10 million surety bail on each surety, with two sureties. Kariyawasam’s passport was also impounded.
Senior Counsel Pieris with Senior Counsel K.V. Thavarasha, Gunaratna Wanninayake, Upul Kumarapperuma, U.L.G. Bandara, Mervin Silva, Dharmathilaka Gamage, Bandara Ekanayake, Sumith Silva and Thisara Chamara appeared for Pradeep Kariyawasam.
The Commission to Investigate Allegations of Bribery and Corruption has accused the former Chairman of National Savings Bank Pradeep Gamini Suraj Kariyawasam of Lake Drive, Colombo 8 of corruption in a fraudulent share purchase.
The complainant U.L.A.D. Kithsiri Perera, the executive officer of NSB bank, alleged that the suspect had made use of his official position to purchase the shares intentionally to cause monitory loss to the Government by purchasing 7,863,362 shares of The Finance Company, thus committing an act punishable under Section 70 of the Bribery Commission Act.
The former chairman is also accused of having informed The Finance Company that the bank would buy the concerned TFC shares by unlawfully using his official position as chairman of the bank. It is also alleged that Kariyawasam as NSB chairman had impressed on the management of TFC to appoint Shan Chandrasekeran Shanmugam as a director of the company using his official position at NSB.
Kariyawasam is the spouse of impeached Chief Justice Shirani Bandaranayake.