C.B. Ratnayake Gets Bail in Rs. 57 Mn Asset Probe

COLOMBO (News 1st); The Colombo Chief Magistrate’s Court ordered the release of former minister C.B. Ratnayake on bail, following his arrest by the Commission to Investigate Allegations of Bribery or Corruption over charges of illicit asset accumulation.

The case was heard before Chief Magistrate Asanga S. Bodaragama, where the prosecution, represented by Assistant Director of Legal Sulochana Hettiarachchi, confirmed that all statements related to the investigation have been recorded. The prosecution requested a suitable date for the next hearing.

Appearing for the suspect, President’s Counsel Kalinga Indatissa urged the court to grant bail under appropriate conditions as per the Bail Act. 

After considering submissions, the Magistrate ordered Ratnayake’s release on two surety bails of Rs. 2 million each, while imposing a travel ban on the suspect.

The case will be recalled on March 6.

Ratnayake was arrested on December 2 over allegations of unlawfully acquiring assets worth Rs. 57.3 million between March 31, 2011, and March 31, 2013, exceeding his legal income. He had been in remand custody since then.