Ravi Karunanayake
Member of Parliament, National List · United National Party (UNP)
3
Legal matters
0
Investigations
3
Charges pending
0
Acquitted / dismissed
Next in court
Not publicly confirmed
Ravi Karunanayake is facing charges.
On 1 June 2026 the Supreme Court overturned a 2021 Trial-at-Bar ruling and held that charges under the Public Property Act can proceed against the accused in a Central Bank bond-scam prosecution, including a company (Perpetual Treasuries Ltd), directing that the trial move forward quickly. Newswire reports that this case concerns the Treasury bond auction of 31 March 2016 and ten accused including former Finance Minister Ravi Karunanayake and former Central Bank Governor Arjuna Mahendran; it is the same prosecution recorded at ravi-karunanayake-03 (reported there as the 29 March 2016 auction), and the auction date is reported inconsistently.
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It is not the separate prosecution over the 27 February 2015 auction (23 indictments, alleged loss of Rs. 688 million), whose ten accused, per NewsFirst, do not include Ravi Karunanayake. The ruling is a procedural decision, not a conviction or a finding of guilt.
The full running account, event by event, is in the Timeline and Court Cases tabs below.
Ravi Karunanayake legal timeline
- 4 October 2026Central Bank bond scam (March 2016 aucti…
Hearing
News First and Hiru reported that the matter was ordered to be recalled on 4 October 2026, once a new Permanent Trial-at-Bar bench has been constituted. That date falls on a Sunday, so Nadu has not treated it as a confirmed hearing pending further verification.
Court: Colombo High Court (Permanent Trial-at-Bar)
Sources (2)
- 10 September 2026Central Bank bond scam (March 2016 aucti…
Hearing
The Colombo High Court adjourned the case because the Permanent Trial-at-Bar bench previously assigned to hear it had not been fully constituted, and directed that a new bench be appointed before the case is recalled.
Court: Colombo High Court (Permanent Trial-at-Bar)
Sources (2)
- 31 August 2026National Lotteries Board employee misuse…
Bail Granted
The magistrate (Liyan Warushavithana) released him the same day on two sureties of Rs. 1 million each with an overseas travel ban. Daily FT dates the bail order 1 September; Newswire, Daily Mirror and Newsfirst report 31 August.
Court: Colombo Additional Magistrate's Court
Sources (4)
- 31 August 2026National Lotteries Board employee misuse…
Arrested
CIABOC arrested Ravi Karunanayake after recording a statement from him over the alleged use of National Lotteries Board employees for political work, and produced him before the Colombo Additional Magistrate the same day.
Court: Colombo Additional Magistrate's Court
Sources (3)
- 1 June 2026Central Bank bond case - Supreme Court P…
Hearing
The Supreme Court overturned a 2021 Trial-at-Bar ruling and held that charges under the Public Property Act can proceed in the Central Bank bond-scam prosecution (reported by Newswire as concerning the 31 March 2016 auction and ten accused including Ravi Karunanayake), and directed that the trial move forward as quickly as possible. This is a procedural ruling, not a conviction or finding of guilt; 'hearing' is the closest available event type.
Court: Supreme Court of Sri Lanka
Sources (1)
Ravi Karunanayake court cases
3
Cases Total
2
Charges Pending
1
Indicted
National Lotteries Board employee misuse case
Alleged offence under Section 70 of the Bribery Act involving three National Lotteries Board employees allegedly used for political activities while he was Finance Minister.
What’s happened
Released on bail with two sureties of Rs.1 million each and a travel ban.
- Court
- Colombo Chief Magistrate's Court
- Next hearing / due
- Next hearing not confirmed
Central Bank bond case - Supreme Court Public Property Act ruling (June 2026)
On 1 June 2026 the Supreme Court overturned a 2021 Trial-at-Bar ruling and held that charges under the Public Property Act can proceed against the accused in a Central Bank bond-scam prosecution, including a company (Perpetual Treasuries Ltd), directing that the trial move forward quickly. Newswire reports that this case concerns the Treasury bond auction of 31 March 2016 and ten accused including former Finance Minister Ravi Karunanayake and former Central Bank Governor Arjuna Mahendran; it is the same prosecution recorded at ravi-karunanayake-03 (reported there as the 29 March 2016 auction), and the auction date is reported inconsistently.
It is not the separate prosecution over the 27 February 2015 auction (23 indictments, alleged loss of Rs. 688 million), whose ten accused, per NewsFirst, do not include Ravi Karunanayake. The ruling is a procedural decision, not a conviction or a finding of guilt.
What’s happened
Separate from the 2026 NLB arrest. The 9 Sep 2026 Trial-at-Bar hearing and the 24 Nov 2026 pre-trial conference reported by NewsFirst relate to the 27 Feb 2015 auction prosecution, whose ten accused do not include Karunanayake, and are therefore not recorded against him here. No hearing date for Karunanayake's Public Property Act case has been located; for the Trial-at-Bar case see ravi-karunanayake-03.
- Court
- Supreme Court (ruling 1 Jun 2026); Colombo High Court Permanent Trial-at-Bar
- Next hearing / due
- Next hearing not confirmed
Central Bank bond scam (March 2016 auction) Trial-at-Bar case
A separate Central Bank bond-scam prosecution concerning the 29 Mar 2016 bond auction (distinct from the 27 Feb 2015 auction prosecution, whose ten accused do not include Ravi Karunanayake per NewsFirst; the Supreme Court's 1 Jun 2026 Public Property Act ruling in this prosecution is recorded at ravi-karunanayake-02). The Attorney General has filed 32 indictments against 11 accused, including Ravi Karunanayake and former Central Bank Governor Arjuna Mahendran, alleging a loss of approximately Rs. 36.98 billion to the State.
This is a prosecution under active proceedings and has not resulted in a conviction.
What’s happened
At the 10 Sep 2026 hearing, the Colombo High Court adjourned the case because the Permanent Trial-at-Bar bench previously assigned had not been fully constituted; the judge directed that a new bench be appointed before proceedings continue. News First and Hiru reported a 4 Oct 2026 recall date, but it falls on a Sunday and is not treated as confirmed.
- Court
- Colombo High Court (Permanent Trial-at-Bar)
- Next hearing / due
- Next hearing not confirmed
Sources (3)
Ravi Karunanayake in the news
In the news
Stories in the news feed that name Ravi Karunanayake, with every outlet’s report of each grouped together. These are other outlets’ reports; what they say is not Nadu’s verified record.
No stories naming Ravi Karunanayake in the news right now. New reports appear here as outlets publish them.
Ravi Karunanayake political career
Ministerial positions
Minister of Commerce and Consumer Affairs
2001–2004
Minister of Finance
2015–2015
Minister of Finance
2015–2017
Minister of Foreign Affairs
2017–2017
Minister of Power, Energy and Business Development
2018–2019
Other political positions
Member of Parliament, National List
2024–?
Ravi Karunanayake party history
DUNF-Lalith Front period is approximately 1989-1998.
Joined the UNP around the 1999-2000 transition; the audit uses 2000 as the safe bounded date. The 2024 NDF electoral vehicle does not by itself establish a UNP resignation.