An individual has been arrested in Maradana over allegations that approximately US$80 million, equivalent to more than Rs. 23 billion, was illegally transferred from Sri Lanka to overseas accounts under the guise of importing goods.

The arrest was made by the Police Financial Crimes Investigation Division (FCID) following a complaint lodged by Sri Lanka Customs regarding several companies suspected of remitting large sums of money overseas while claiming the funds were intended for the importation of goods.

Investigations conducted by the FCID reportedly revealed that the alleged fraudulent scheme was being operated by a resident of Maradana.

According to investigators, the suspect had transferred approximately US$80 million from Sri Lanka between January 1, 2023, and November 21, 2025.

The investigations further revealed that the funds had been remitted on 3,198 separate occasions through six state and private-sector banks.

Authorities said the transactions had been carried out using the names of 26 different companies.

The money is suspected to have been transferred to overseas bank accounts through the Telegraphic Transfer (TT) system, allegedly in violation of regulations governing foreign exchange transactions.

Based on the findings of the investigation, the suspect was taken into custody by the FCID in Maradana.

Investigations into the alleged financial fraud and the overseas transfers are continuing, while authorities are looking into the companies and bank transactions connected to the case.