Sri Lanka foreign minister resigns over alleged scandal

COLOMBO, Sri Lanka – Sri Lanka's foreign minister has resigned after being accused of possessing a luxury apartment paid for by a businessman investigated for shady treasury bond transactions.

Ravi Karunanayake, who was the finance minister at the time the deals took place, told Parliament Thursday that he is resigning from the Cabinet to "set an example" to others and protect the government.

Karunanayake denies the allegations.

The businessman is being investigated by a presidential commission for allegedly having inside information about bond transactions with the Central Bank.

President Maithripala Sirisena, who came into power promising to end corruption, has been under pressure to act against Karunanayake.