Sri Lanka, Sept. 17 -- Four private bank officials who were held in remand connection with an alleged foreign currency smuggling case involving 80 million United States dollars, allegedly siphoned abroad through 36 front companies under the guise of goods importation by racketeer Jeffrey Mohamed, have been released on bail by Colombo Chief Magistrate Asanga S. Bodaragama today (17).

The court ordered that each suspect be released on a cash bail of 25,000 rupees and two surety bails of one million rupees each. Additionally, the court issued an order prohibiting the suspect bank officials from entering their respective banks.

Meanwhile, the primary suspect in the incident, Jeffrey Mohamed, and prominent local businessman Mohamed Infad wer...