Financial institution director arrested for Rs. 9,900 Mn fraud

A suspect who ran a financial institution without the approval of the Central Bank of Sri Lanka and defrauded an amount of Rs 9,900 million has been arrested.

 

Police said that the suspect was arrested yesterday by the officers of the Financial and Commercial Crime Investigation Division on charges of criminal misappropriation of money, breach of trust and money laundering.

 

They said the suspect has worked as the director and shareholder of the financial institution.

 

The suspect, a 54-year-old, was identified as a resident of Kandy.