COLOMBO, Aug. 31 -- Sri Lanka's former Finance Minister and current parliamentarian Ravi Karunanayake who was arrested by the country's anti-corruption commission on Monday (Aug 31) was released on bail by the Colombo Magistrate's Court later in the day on two personal bail bonds of Rs 1 million each.

Colombo Additional Magistrate Liyan Warusavithana who ordered Karunanayake release also imposed a travel ban preventing him from leaving the country.

Karunanayake was arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) following a lengthy investigation into allegations that three employees were paid by the state while performing personal work for him.

According to CIABOC, Karunanayake, while in January ...