Investigations into a large-scale fraud involving the transfer of nearly US$1 billion overseas without importing any goods reportedly began after a large sum of money was found inside a three-wheeler in the Peliyagoda area, a senior police officer has revealed.
Senior Deputy Inspector General of Police for the Western Province, Sanjeewa Medawatta, said during a television programme that the major racket was uncovered following suspicions that arose after several hundred thousand rupees were found in a three-wheeler during a routine police inspection.
Investigations have revealed that large amounts of money had been transferred from Sri Lanka to foreign bank accounts through the banking system, despite no goods being imported into the country in connection with those transactions.
The investigation was initially launched by the Western Province Crime Division before being handed over to the Central Crime Investigation Bureau (CCIB) and subsequently to the Criminal Investigation Department (CID).
Four bank managers and a businessman arrested in connection with the incident were produced before the Colombo Magistrate’s Court on August 20 and were subsequently remanded until September 3.
