Former Minister Prasanna Ranatunga was released on bail today (12) after being arrested by officials of the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) in connection with a major financial irregularity probe.
Ranatunga’s arrest follows an investigation into allegations that, during his tenure as Minister of Tourism in 2021, he unlawfully appointed a private brokerage firm to manage the medical insurance of employees in four institutions under the ministry.
According to the Commission, the decision caused a financial loss of Rs. 4,750,828.72 to the Sri Lanka Insurance Corporation.
The institutions involved are:
- Sri Lanka Tourism Development Authority
- Sri Lanka Tourism Promotion Bureau
- Sri Lanka Institute of Hotel Management
- Sri Lanka Conventions Bureau
Ranatunga was taken into custody after appearing before the Commission to record a statement. He was later produced before the Colombo Magistrate’s Court, which ordered his release on bail.
