Sakvithi Ranasinghe and his wife today (July 19) pleaded guilty to committing financial fraud by misusing its deposits worth over Rs. 1,628 million obtained from the public while maintaining the Sakvithi Housing and Construction (Pvt.) Ltd in Nugegoda.
The revised charge sheet submitted by the Attorney General was read out when the couple was produced before Colombo High Court Judge Aditya Patabendi this morning (July 19).
Accordingly, the accused pleaded guilty to the revised fraud charges levelled against them.
Sakvithi Ranasinghe and his wife Kumari Anuradhani agreed to repay 60% out of the Rs. 1,628 million in 20 monthly instalments.
The defence attorneys told the high court judge that the first monthly instalment amounting to Rs. 5 million would be settled today (July 19).
The Colombo High Court ordered that the second instalment be paid on August 24.
The two accused were convicted by High Court Judge Adithya Patabendige and the judge will pass the sentence against them once the repayment plan is concluded.
