Two individuals who were arrested and remanded over allegations that Rs. 190 billion was illegally transferred to foreign countries under the guise of importing goods into Sri Lanka, have been further remanded until November 12 by the Colombo Chief Magistrate's Court.

Colombo Chief Magistrate Asanga S. Bodaragama issued the order today (05), Ada Derana reporter said.

The first and eighth suspects in the case were produced before the court by prison officials when the matter was taken up.

Officers of the Financial Crimes Investigation Division (FCID) informed court that objections to granting bail to the first and eighth suspects had been filed today.

Investigators further informed court that they were taking steps to obtain the final assessment reports and other relevant documents required for the ongoing investigation into the import and export transactions and submit them to court.

They also stated that statements were being recorded from individuals who had contributed to establishing the companies concerned and laying the foundations for their operations.

The investigating officers said further investigations were being conducted into the involvement of the first suspect and the eighth suspect.

Court was also informed that investigators were examining whether any connections existed between bank officials and the companies involved in the investigation, with relevant statements to be submitted to court.

Having considered the submissions, the Chief Magistrate stated that the bail application would be decided on November 12.

Accordingly, both suspects were remanded until November 12.