Continental Insurance CEO arrested

Colombo, Dec. 12 (Daily Mirror) - The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has arrested the Chief Executive Officer of Continental Insurance Lanka Limited, Mailanarachchilage Don Wenceslaus Gerald Lazarus Gunadasa over allegations of bribery.

Gunadasa is accused of facilitating a bribe of Rs. 6,415,050 to a former official of the Government Analyst’s Department, D.H.L.W. Jayamanna, who served as a Senior Assistant Government Analyst. Another former top official of the insurance company had also been previously arrested in connection with the case.

According to the Bribery Commission, the payment resulted in an undue financial benefit to the company.