The Matugama Magistrate refused to grant bail to the two suspects Bandula Weerasinghe, who was the former joint managing director and Roshan Gunaratne. Previously when the case was first heard on 30 May they were placed in remand custody until 13 June. A final ruling is likely when the case comes up next Monday.
Weerasinghe was arrested by the Criminal Investigations Department (CID) on 30 May and produced before the Matugama Magistrate along with the former General Manager of Stores Gunaratne. In the B-Report presented to the Matugama Magistrate the CID revealed that extensive evidence had been found to implicate the chief suspect in the fraud
http://www.ft.lk/2011/06/14/hayleys-mgt-fraud-prime-suspects-further-remanded/