Chanuka Ratwatte and four others who were in remand custody over a financial misappropriation of Rs 4.2 billion were released on bail by Colombo Fort Magistrate Lanka Jayaratne today.

Ratwatte was released on a cash bail of Rs 300,000 and three sureties of Rs 20 million each.

The Fort Magistrate today directed that the alleged financial misappropriation related to the company Entrust Securities did not fall under the Public Property Act. Therefore the suspects were released on bail.

Entrust Securities PLC is a primary dealer of the Central Bank (CB), and is being investigated by the Financial Crimes Investigation Division (FCID).