Rs 16bn fraud suspect Sakvithi Ranasinghe granted bail

COLOMBO (News 1st) - Abayaranasinghe Mudiyanselage Chandana Weerakumara or commonly known as Sakvithi Ranasinghe who was remanded for 10 years following the fraud over Rs 16bn was granted bail today(June 10). The Colombo Magistrate ordered the defendant to be released on a bond of Rs 600,000 and six surety bonds of Rs 1.1bn. Ranasinghe is the chief defendant of three cases in relation to the fraud of Rs 16bn of deposits in the Sakvithi Housing and Constructions (Pvt) Ltd. He was arrested in September 2009 in the Wattala area and was remanded until today(June 10) for nearly 10 years. The case is to be taken up on September 12th.