Waduge was arrested by the Criminal Investigations Department (CID) over an alleged financial irregularity of Rs. 90 million.
Waduge, who was the chairman of the Ceylon Fertilizer Company from 2017 to 2019 was arrested on suspicion of being involved in this alleged financial fraud at his residence at Wickramasinghapura in Battaramulla.
Although the CID had requested an order to take him to remand custody, the Colombo Chief Magistrate decided to release him taking note that Covid-19 was currently being spread in prisons.
However, the suspect was prohibited from going overseas.