Sakvithi Ranasinghe pleads guilty and agrees to repay 60 per cent of the total in 20 instalments.

Popular English teacher Sakvithi Ranasinghe and his wife pleaded guilty to the charges relating to committing a criminal breach of trust with regard to Rs. 1,628 million worth of funds of the depositors at Sakvithi Housing and Construction (Pvt.) Ltd. and agreed to a repayment plan before the Colombo High Court.

Sakvithi Ranasinghe and his wife, Kumari Anuradhani, agreed to repay 60% of Rs. 1,628 million within 20 months. The first monthly instalment amounting to Rs. 5 million was paid before the Colombo High Court, and the second instalment was ordered to 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.

The Attorney General had filed indictments against Sakvithi Ranasinghe and Kumari Anuradhani for committing a criminal breach of trust with regard to Rs. 1,628 million worth of funds of the depositors at Sakvithi Housing and Construction (Pvt.) Ltd. between 2006 and 2008. On a previous occasion, the indictments against ten other directors of Sakvithi Housing and Construction (Pvt.) Ltd. was withdrawn by the Attorney General.