The extortionists had demanded Rs. 500,000 as ransom but had later agreed to Rs. 100,000 and were prepared to meet the businessman at a selected location to collect the money. The police went undercover to drop off the money for the extortionists to collect and two suspects were subsequently arrested early this morning.Further investigations are underway. The police arrested two extortionists in Walasmulla early this morning after they had threatened a businessman in the area and demanded ransom.According to the police media unit one man had contacted the businessman and said that he was Julampitiya Amare, an underworld figure who is already in police custody over a shooting incident. A police complaint over the threat was lodged on July 18 and investigations were launched by the Tangalle criminal investigations unit.