When the case was taken up today (24), the court ordered his release on four sureties of Rs. 500,000 each. The matter is scheduled to be recalled on July 10.
Fernando, along with his elder son Johan Fernando, younger son Jerome Fernando, and a former transport manager of Lanka Sathosa, had been arrested and remanded following an investigation by the Financial Crimes Investigation Division (FCID).
Authorities allege that a Lanka Sathosa lorry was used for activities linked to an ethanol business reportedly owned by Fernando, resulting in an estimated loss of Rs. 2.5 million to the state.
