Man arrested over massive Rs. 9.9 billion fraud
October 27, 2023 08:09 am
A man has been arrested for operating a financial institute without a license from the Central Bank of Sri Lanka (CBSL), the police said.
The officers of Financial and Commercial Crimes Investigation Division arrested the 54-year-old on Thursday (Oct. 26) in the Kandy View Garden area.
The suspect has swindled a whopping amount of money to the tune of Rs. 9.9 billion through this unapproved financial operation.
He has served as the director and the shareholder of the aforesaid illegal financial institution.
According to the police, the suspect now faces serious charges including criminal misappropriation of funds, breach of trust, and money laundering.
The Financial and Commercial Crimes Investigation Division is conducting further investigations into the matter.
