AG objects bail for Sakvithi

The Attorney General today objected to the Colombo High Court releasing financial fraudster Sakvithi Ranasinghe on bail.

The case in Sakvithi Ranasinghe and ten others are accused of having committed a criminal breach of trust amounting to more than Rs. 1,628 million by defrauding those who had deposited cash in the Sakvithi Housing and Construction (Pvt.) Ltd. at Nugegoda.

The case was taken up for hearing by Colombo High Court Judge Manilal Waidyaratne when the defence counsel appearing for Mr. Ranasinghe pleaded that he be released on bail.

Senior State Counsel Deleepa Pieris appearing for the prosecution objected to the granting of bail saying that accused had swindled more than Rs1.628 million belonging to the depositors and had not taken any meaningful steps to repay the depositors.

Those indicted were -- Sakvithi Ranasinghe, Kumari Anuradhani, Darshani Maduwanthi, Sandeepika Adhikaram, Upeksha Jayasuriya, Asitha Prabhath, Don Nalaka Thushara, Chathuri Apsara, Sithruwan Dhananjaya, Chanaka Suresh and Keshara Samakumara. (T. Farook Thajudeen)