Politics

The Colombo Magistrate’s Court has granted bail to the Chief Executive Officer (CEO) of an insurance company who was arrested for his involvement in a bribery case linked to a former Assistant Government Analyst, currently in remand. The arrest was made by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), and the CEO appeared in court today. CIABOC officials shared evidence indicating that the CEO approved payments that were allegedly bribes to the former Assistant Government Analyst. The Commission asked the court to charge the CEO with aiding and abetting corruption and offering bribes to a government official, and to keep him in remand as the investigation continues. President’s Counsel Ali Sabry, representing the insurance firm, argued that neither the CEO nor the company had committed any acts of bribery. He explained that the company legally engaged the services of the former Assistant Government Analyst, who was allowed under the Establishments Code to work with outside parties. He also pointed out that the company has paid over Rs. 13 billion in compensation for vehicle and accident claims in the past, questioning why they would resort to illegal means for analyst reports. He mentioned that more than Rs. 3 billion in compensation is pending due to recent disasters, stating that keeping the CEO in remand would seriously disrupt these payments. Thus, the President’s Counsel requested the court to grant bail to the CEO.