Known associate of Sakvithi among those remanded

Five suspects, including a person said to be a close associate of known fraudster Sakvithi Ranasinha, were remanded till July 30 by Kaduwela District Judge W.F.M. Gunawardena on Thursday (25) when they were produced in court on charges of having defrauded millions of rupees from investors.

The main suspect, who worked for Sakvithi Ranasinha at “Sakvithi Housing and Construction Company Ltd. located in Nugegoda, had allegedly continued the business under a false name and an address after the arrest of convicted fraudster, Sakvithi Ranasinha.

Acting on the complaints of investors as well as on information gathered from advertisements appearing in several newspapers, which advertised the fake business, Mirihana police began an investigation which led to the arrest of the suspects.

Attorney Sandya Thalduwa, who appeared for the aggrieved parties, opposed the granting of bail to the suspects, pointing out that they had defrauded about Rs. 140 million from 117 investors who were still waiting for their monies to be returned to them.

Attorney Kamal Wijesiri, who appeared on behalf of the suspects, had pleaded with court to grant bail to his clients with the promise of refunding the depositors’ money in full.

Considering the submissions of both parties Judge remanded the suspects.

SI Bandara of the crimes investigation unit of the Mirihana police and sergeants 5619 Karunaratna and 16986 Kodithuwakku led the prosecution.