The individual who was arrested in Maradana by the Financial Crimes Investigation Division (FCID) of the Police for allegedly transferring USD 80 million, equivalent to more than Rs. 23 billion, to overseas accounts through telegraphic transfers (T/T) between 2023 and 2025, has been remanded until September 17.
The suspect was arrested following a complaint lodged by Sri Lanka Customs regarding several companies suspected of remitting large sums of money overseas under the guise of importing goods.
Investigations conducted by the FCID reportedly revealed that the alleged scheme was being operated by a resident of Maradana.
According to investigators, the suspect had transferred approximately USD 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, using the names of 26 different companies.
Authorities suspect that the money was 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.
The suspect was subsequently produced before court and remanded until September 17.
Investigations into the alleged financial fraud and overseas transfers are continuing, while authorities are also looking into the companies and bank transactions connected to the case.
