Thico Group Private Ltd. CEO Thilini Priyamali, who has been held in remand custody for a period of two months for the alleged misappropriation of more than 1.3 billion rupees of funds invested in her companies, was today granted bail by the Colombo Fort Magistrate.

She was ordered to be released on a cash bail of Rs. 50,000 with two sureties of Rs. 10 million by Magistrate Thilina Gamage. She was ordered to surrender her passport to the court’s custody. As of now, Thilini Priyamali has been granted bail in respect of eight cases filed over a number of complaints relating to financial fraud.

Thilini Priyamali’s business partner Isuru Bandara, Ven. Borella Sirisumana Thera, and businesswoman Janaki Siriwardena, who was arrested for aiding and abetting to commit these offences, are also currently out on bail.