Four private bank officials who were remanded over allegations of facilitating the illegal transfer of more than US$1 billion out of Sri Lanka under the guise of importing goods have been granted bail.
Colombo Chief Magistrate Asanga S. Bodaragama ordered each suspect to be released on a cash bail of Rs. 25,000 and two personal sureties of Rs. 1 million each. The sureties were ordered to be close relatives of the respective suspects.
The four officials had previously been remanded in connection with an investigation into the alleged illegal transfer of approximately US$1 billion to foreign countries.
As an additional condition of bail, the court ordered the officials not to enter the bank branches where they were employed or the respective head offices.
Meanwhile, the bail application filed by businessman Mohamed Jiffry, who is also in remand custody in connection with the case, was rejected.
