Jan 01, Tangalle: People in Tangalle and its suburbs last night have damaged the properties of Piyadasa Ratnayake, a businessman who ran an illegal financial institute in the area.

Piyadasa Ratnayake alias 'Danduwam Mudalali' who has been issued an arrest warrant by Tangalle Magistrate Courts has fled the area with his family.

According to the police angry people in the area have damaged all the properties in his house located in Hungama Gurupokuna, in Southern Sri Lanka.

A large number of residents in the area have deposited money in his fraudulent finance institute as he promised to pay higher interests very similar to the Sakvithi Ranasinghe scam.

The Tangalle police are seeking public assistance to arrest him on the court order.