Rs.1 billion foreign exchange fraud

31 December 2010 01:42 pm - 11 - {{hitsCtrl.values.hits}}

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The Customs uncovered a huge Rs.1 billion exchange fraud at a private bank in Pettah today. Two suspects were arrested on charges of having produced falsified documents and fake identities and registering a non existing company.

Customs Deputy Director Athula Lankadeva said the Customs was told that the company was registered one but investigations had revealed that it did not exist.

The bank manager and a businessman were arrested by Customs officers. “We don’t know what they tried to import. We are on the lookout for the mastermind behind the fraud but we believe they might have attempted to import sophisticated items illegally,” he said.

“This is probably the largest foreign exchange fraud that was detected by the customs. We were told by the suspects that a ship carrying textiles is heading to the port but we have not received any information of such a ship arriving at the port at any time soon”, Mr. Lankadeva said.

“We raided the bank today. We believe the suspects might have being doing this for the past six to eight months with associates who are yet to be arrested,” he said.

Mr. Lankadeva said the two suspects were produced at the Hulftsdrop Magistrate’s Court and remanded,.

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Comments - 11

A to Z Friday, 31 December 2010 02:03 PM

this has been going on for soooo long, there are so many money lounders. the CID should looking to the guys in petta who have branchs in dubai and singapore.

Konde bendapu china Friday, 31 December 2010 02:55 PM

Mun-dial system and various other under ground money laundering in Sri Lanka was common thing it is up to the authorities get them in to the book.this is tip of iceberg.

amal Friday, 31 December 2010 03:34 PM

fraud is the most common word in sri lanka..

zorro Friday, 31 December 2010 04:49 PM

and the registered engineering companies who were supposed to build houses in vavunia for the displaced people etc etc.

FRANNY Friday, 31 December 2010 05:20 PM

see which minister is behind the master mind frud

lanka putra Friday, 31 December 2010 11:24 PM

is SFs son-in-law involed

Leslie Saturday, 01 January 2011 08:39 AM

When MPs can hock the free Car Permits and be richer by millions, others too get tempted for easy bucks.
The MPs are the law makers, but they go scot free.

Oyage Sudu Kella Saturday, 01 January 2011 10:46 AM

People do say that from our banks we can't send even 10 Dollars outside, but from Pettah we can send out millions of dollars it seems. Why can't the government relax rules so that there won't be any illegal money making and the country losing a lot of revenue?

xlntgson Saturday, 01 January 2011 10:57 AM

By products of development, foreign based!

bash Saturday, 01 January 2011 04:31 PM

Legally accepted frauds like selling duty free car permits, MP's get this facility to service the people, not to sell them

play boy Saturday, 01 January 2011 11:54 PM

Find the politician behind it.

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Rs.1 billion foreign exchange fraud

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