"Danduwam Mudalali" - illegal finance company operator remanded till Oct 29
2008-10-16 10:13:25

Piyadasa Ratnayake, alias Danduwam Mudalali, who had been operating an illegal finance institution despite the warnings given by the Central Bank have been arrested by the Hungama police at Tangalle and produced to courts today.

He has been remanded untill October 29, following 33 complaints made against him.

Piyadasa Ratnayake alias Danduwam Mudalali was declared as an illegal finance institutions by the Central Bank recently. The arrest was taken place as a result of a complaint made by one the investors.

Most of the investors have gathered around his house today in protest demanding their money back.