Sakvithi Ranasinghe, who was imprisoned for nearly a decade after being convicted of three charges that included a billion-rupee fraud, was released on bail today (Jun 10).
Chandana Weerakumara alias 'Sakvithi Ranasinghe' was convicted along with 11 others in a fraud involving Rs 1.6 billion rupees belonging to depositors of a financial company which was run by him in violation of the Finance Companies Act.
This case was heard before High Court judge Aditya Patabendige who released the accused on a cash bail of Rs 500,000 and two surety bails of Rs 2.5 million.
Sakvithi was also convicted for operating a financial institution without obtaining approval of the Central Bank.
He was released today on a cash bail of Rs 500,000 and two surety bails of Rs 2.5 million by High Court Judge Dhammika Ganepola before whom this case was heard.
High Court Judge Shashi Mahendran who heard the case on the illegal transaction methods of the accused, had released the suspect on two surety bails worth Rs 500,000.
However, the imprisonment sentence imposed on Sakvithi Ranasinghe for abusing his wife as a minor before marrying her, is still in effect.
The Committee on High Posts has approved the nomination of Former Air Force Commander Air Chief Marshal (Retd.)
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