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UPDATE : Sakvithi Ranasinghe released on bail
May 10, 201311:24 AM
Sakvithi Ranasinghe who was allegedly involved in large scale financial frauds has been released on bail today by the Gangodawila Magistrate’s Court, Ada Derana reporter said.
He was released on a cash bail of Rs 500,000 and two personal bails of Rs 5 million.
Magistrate Ajith M. Masinghe also ordered him to appear before the Criminal Investigations Department once a month.
Although Sakvithi was granted bail in one case, he will continue to be in jail over other pending cases, the Prisons Supirintendant said.
Sakvithi is accused of swindling over 9000 million rupees from hundreds of investors in a fraudulent investment scam through his Sakvithi Group of Companies.
