Sri Lanka, Oct. 31 -- Former Chairman of the Ceylon State Trading Corporation, Husein Ahmad, who was arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), has been released on bail.

He was arrested for allegedly spending over Rs. 90 million to import 50 temporary warehouses in violation of due procedure.

Colombo Chief Magistrate Asanga S. Bodaragama granted bail with two sureties of Rs. 1 million each and a cash bail of Rs. 50,000. The court also imposed a travel ban on the suspect, preventing him from leaving the country.

CIABOC stated that during the procurement of goods and services for the Ceylon State Trading Corporation, the suspect had failed to follow proper procedures and, in 2015, had import...