Fort Magistrate Lanka Jayaratne yesterday released Chanuka Ratwatte and four others on bail.
They were suspected of selling treasury bills through a firm established by Ratwatte and failure to deposit the money in the custody of the state. The loss caused to the state is estimated at Rs. 4,200 million.
Ratwatte was granted bail in Rs. 300,000 cash and three sureties worth Rs. 300,000 each.
The other suspect who had been a director of the firm was released on a lesser quantum of bail.
President’s Counsel Kalinga Indatissa appeared for Ratwatte, who is a son of the former Minister Anuruddha Ratwatte.
The court, however, prohibited foreign travel by the suspects without its permission.