Sri Lanka, May 23 -- Colombo Additional Magistrate Pavithra Sanjeewani Pathirana remanded the owner of the Aura Lanka Viranjith Thambugala until May 27 over a financial fraud case of Rs.70 million yesterday.

He was produced before the Court after being arrested by the Criminal Investigation Department over a complaint lodged by IWS Holdings Chairman Arthur Senanayake. According to the CID, the suspect had obtained money from the complainant promising on an agreement signed by the two parties to return it within 15 days.

However, the suspect had not returned the money as promised.

Attorney Ranjan de Silva appearing for the suspect informed court that his client had made a deal with the complainant's company to purchase two helicopters f...