Chanuka Ratwatte and four others remanded on charges of misusing Rs.4.2 billion in state funds, were today released on bail by Colombo Fort Magistrate Lanka Jayaratne.
Mr. Ratwatte was released on a cash bail of Rs.300,000 with three sureties of Rs.2 million each.
On a previous occasion the FCID informed Court that the suspects had misused funds belonging to the Central Bank and the Ceylon Electricity Board (CEB) Employees’ Provident Fund by investing the funds in Government Securities through Entrust Securities PLC, a company headed by the suspects.
The other four suspects released on bail are -- Dharmapriya Bandara Dasanayake (Chairman of Entrust Securities PLC), Romesha Dushanthi Senarath (Executive Director), Sanjeewa Dayaratne (Director) and Niloshan Romelo Mendis.
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