Three more F&G directors remanded

Sarath Malalasekera

Three more directors of the F and G Real Estate Private Limited were produced before the Colombo Fort Magistrate and Additional District Judge Gihan Pilapitiya yesterday by the Criminal Investigations Department in connection with misappropriation of depositors' funds running into millions.

On an application by the CID the three directors were remanded till September 1. Two directors of the same company who were produced earlier and remanded till August 24.

Earlier three other directors were granted cash bail in Rs. 25,000 and a bond of Rs. 5 million with two sureties each.

The directors agreed to a suggestion made by the Deputy Solicitor General Yasantha Kodagoda to sell the assets of their company and pay the depositors with the consent of the Central Bank.

Rienzie Arasacularatne (PC) with Kuvera de Zoysa, Jayantha Dias Nanayakkara, Asela Rekawa, Shiraz Noordeen, Jeewantha Jayatilleke, Vijaya Hettiarachchi, Priyanath Dharasiri, Dampath Mendis, Hemantha Gamage and Chandana Attapattu appeared for the company directors.

The case will be called again on August 24.