Colombo Chief Magistrate Asanga S. Bodaragama ordered the remand of two directors of private financial institutions accused of defrauding over Rs. 900 million from more than 1,000 depositors.
The suspects, Mahesh Priyantha Agalagamage and Chandika Yasanath Bandara Weerakoon, were ordered to be held in remand custody until September 30.
Meanwhile, the court ordered the release of the 10th suspect in the case, Udaya Pushpakumara, on three surety bonds worth Rs. 2.5 million. The suspect was further banned from traveling abroad and instructed to surrender his passport to court. If he does not possess a passport, he must submit an affidavit confirming the same.
The Financial Crimes Division of the CID informed court that related cases against the suspects are also pending before the Negombo and Polonnaruwa courts.
