Thilini Priyamali, the businesswoman who is accused of massive financial fraud, was released on bail by the Colombo Fort Magistrate’s Court this morning (16 Dec).

Her associate, businesswoman Janaki Siriwardhana, also accused of being complicit in the crimes, was granted bail on 13 December.

The duo were released by Fort Magistrate Thilini Gamage, for a cash bail of Rs. 50,000 and a personal bail of Rs. 1,000,000, each.

However, they have been forced to remain within the country by way of an overseas travel ban of which the Controller General of the Department of Immigration and Emigration was informed.

Meanwhile, both, residential and asset declaration certificates of Priyamali and Siriwardhana are due to be submitted.

They are also required to appear before the Criminal Investigations Department (CID) on the last Sunday of every month, and were released on the strict instructions that the value of the dishonoured cheques be paid.

Priyamali was arrested by the Criminal Investigations Department (CID) in early October for purportedly swindling businesspersons and high-profile political figures after befriending them by promising high returns for investing in her business.

Following her arrest, Priyamali was taken to several locations, including the 34th flood of the World Trade Centre where her financial institution is headquartered, for site inspections. 

She was escorted out of the prison under a special court order obtained by the CID.

Statements had also been recorded from Siriwardhana by the CID on several occasions pertaining to the 12 complaints received against Priyamali.

In many of these complaints, the plaintiffs had mentioned that Siriwardhana had introduced businesspersons to Priyamali, luring them to invest in her business.