Four ETI ex-directors remanded until Jan 12

COLOMBO (News1st): Four former directors of ETI Finance Ltd who were arrested on money laundering charges have been remanded until January 12. The directors had been arrested on charges of misappropriation, cheating, and money laundering over deposits worth Rs 6.48 billion received by the financial body. A senior deputy solicitor general, appearing for the prosecution, argued that the conduct of the directors had affected about 43,000 depositors and their families. Colombo additional magistrate Bandara Nelumdeniya rejected a bail application filed by the accused citing that granting bail it can incite public interest. Senior deputy solicitor general Haripriya Jayasundara, appearing for the plaintiff argued that the suspects may abscond court if granted bail.