Kotelawala and 7 others released on bail

Thursday, 28 July 2011 01:26 - - {{hitsCtrl.values.hits}}

Colombo: A court yesterday released on bail the former Chairman of Ceylinco Group, Lalith Kotelawala and seven others accused of massive fraud at the collapsed Golden Key Credit Card Company.

The Colombo High Court has released Kotelawala and the other accused members on a Rs. 5 million surety bail each.

Following the collapse of the Ceylinco Group affiliated Golden Key credit card company, Kotelawala, who was the Chairman of the company and seven others were indicted in the Colombo High Court for the alleged misappropriation of Rs. 4.1 billion.

The court has served indictment papers on each of the accused and an arrest warrant had also been issued on the sixth accused, Sicille Kotelawala who was not present in court. (www.colombopage.com)