Sakvithi to be indicted in Colombo High Court

20 Oct 2011 - {{hitsCtrl.values.hits}}

The alleged billion-rupee fraudster Sakvithi Ranasinghe and several others will be indicted soon at the Colombo High Court, in connection with the defrauding of Rs.1,060 million belonging to 2,135 depositors, the Attorney General has informed court.

Senior State Counsel Dileepa Peiris appearing for the Attorney General told Nugegoda Magistrate’s Court that several suspects including Abaya Ranasinghe alias Sakvithi Ranasinghe and his wife Kumari Anuradhani would be indicted in the Colombo High Court.

Meanwhile, Magistrate Anura Kumara turned down a bail application filed on behalf of Sakvithi Ranasinghe’s wife Anuradhani. Mr. Peiris told Court he was objecting to bail since it was a case where more than 2,000 depositors had been allegedly defrauded by the suspects.

He said he feared the suspect would have the same fate that befell Daduwam Mudalali if she was released on bail. The Magistrate ordered her and her husband be further remanded.

In this case, 23 people have been named as suspects and the prosecution hoped to call more than 200 witnesses to give evidence. The CID is conducting further investigations into the matter. (Lakmal Sooriyagoda)

Breaking News

Sakvithi to be indicted in Colombo High Court

Most Popular Articles

Alleged mastermind behind Rs. 210 Billion illegal Dollar transfer network arrested

More arrests of lawyers, politicians and senior police officers

Girl visited her lover, gang raped by lover and his friends

India ready for work once Sri Lanka green-lights project

Country loses US $ 1 billion in fraudulent transactions, certain banks involved

Rupee depreciates further against US Dollar

Latest News

Water plant turns out to be illegal liquor factory; 18,575 bottles seized

Oil stocks in US Strategic Petroleum Reserve fall by 5.5 million to lowest level since 1983

Two drown after boat capsizes in Loggal Oya

CoPF member wants Central Bank, 13 commercial banks to be held to account

Enhanced rains no cause for alarm: Met. Dept.