Kaduwela Magistrate rejected the bail application of Former Economic Development Minister Basil Rajapaksa a short while ago, and remanded him further till June 10.

Rajapaksa was arrested on April 22 by police Financial Crimes Investigations Division and charged under the Offenses Against Public Property Act. The main charge against him is the misappropriation of funds amounting to Rs 70 million in the Divi Naguma Fund.

Meanwhile, a Fundamental Rights petition has been filed by Rajapaksa against his arrest by FCID.