The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) informed the Colombo Chief Magistrate this week that an inquiry is underway into allegations that former Minister Prasanna Ranatunga threatened five brokering firms. He is accused of misappropriating public funds and causing financial losses to the state.
Mr Ranatunga appeared before Chief Magistrate Asanga S. Bodaragama and was granted bail—cash bail of Rs. 100,000 and two surety bails of Rs. 500,000 each.
The allegations centre on the unlawful appointment of a private broker to provide direct medical insurance coverage for employees of four institutions under the Ministry of Tourism. This decision allegedly resulted in a loss of Rs. 4,750,828.72 to the Sri Lanka Insurance Corporation.
Funds received by the broker were reportedly deposited into five separate accounts. Investigators are working to identify the account holders, the court was told.
Chief Police Inspector Gamini Abeysinghe, representing the Bribery Commission, stated that the broker’s services were obtained without following proper procurement procedures.
Defence counsel Anil Silva, PC, argued that the funds were used to repatriate Sri Lankans stranded in Kuwait during the COVID-19 pandemic and that the former minister did not use the money for personal gain.
The case is scheduled to be heard again on 16 January 2026.
with the inputs from Sunday Times article by Ranjith Padmasiri