Chairman of Aura Lanka Group of Companies, Viranjith Thambugala who was arrested by Police over allegations of financial fraud has been granted bail.

Thambugala was granted bail by the Colombo Magistrate Pavithra Sanjeewani Pathiraja today.

According to Lankadeepa newspaper, Thambugala was arrested on allegations of having defrauded Rs. 70 million on the promise of purchasing a helicopter.

He was arrested by the Criminal Investigations Department (CID) based on a complaint filed by I.W.S. Holdings, after which he was remanded last Wednesday.

The business ventures of the former owner of the ‘Dambulla Aura’ team in the Lanka Premier League (LPL), have been under the scrutiny of authorities.