A 25-year-old resident of Wellampitiya has been remanded until October 15 by the Colombo Magistrate’s Court following his arrest for allegedly siphoning USD 25 million (approximately Rs. 7.5 billion) overseas through fraudulent Telegraphic Transfers.
Arrested by the Police Financial Crimes Investigation Division (FCID), the suspect allegedly channeled the funds between January 2024 and July 2025 using six Sri Lankan shell companies via commercial banks. Investigators revealed that while the transfers were purportedly made under the guise of importing goods, no actual imports were carried out against the transactions. (Newswire)
