Sakvithi Ranasinghe who was held in remand custody for nearly nine years for committing a criminal breach of trust with regard to Rs. 1,628 million worth funds of the depositors at Sakvithi Housing and Construction (Pvt.) Ltd was yesterday granted bail by the Colombo High Court.
Sakvithi Ranasinghe had served as the Chairman of Sakvithi Housing and Construction (Pvt.) Ltd, at the time the alleged offences were committed and he was ordered to be released on bail since he fulfilled bail conditions.
The accused was ordered to be released on a cash bail of Rs.500,000 with two sureties of Rs.2.5 million each by High Court Judge Shashi Mahendran.
The Attorney General (AG) had filed indictments on Sakvithi Ranasinghe, Kumari Anuradhani, Darshani Maduwanthi, Sandeepika Adhikaram, Upeksha Jayasuriya, Asitha Prabhath, Don Nalaka Thushara, Chathuri Apsara, Sithruwan Dhananjaya, Chanaka Suresh and Keshara Saamakumara for committing a criminal breach of trust with regard to Rs. 1,628 million worth funds of the depositors at Sakvithi Housing and Construction (Pvt.) Ltd between 2006 and 2008.
The other accused are currently out on bail.
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