Sri Lanka, Dec. 12 -- The Colombo Magistrate's Court has ordered the release on bail of the Chief Executive Officer (CEO) of an insurance company arrested in connection with a bribery incident involving a former Assistant Government Analyst, who is currently in remand custody.

The suspect was arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and produced before the court today.

Presenting evidence, CIABOC officials informed the court that investigations had revealed the suspect's approval of payments allegedly made as bribes to the former Assistant Government Analyst.

The Commission requested the court to arrest and produce the suspect on charges of aiding and abetting corruption and offering bribe...