By Newswire Editorial
A 48-year-old man from Panadura has been arrested for allegedly operating and promoting an illegal pyramid financial scheme.
According to Police, the Financial Crimes Investigation Division launched investigations following complaints from individuals who had invested money in the prohibited scheme.
The suspect is accused of operating, managing, promoting and advertising the financial scheme, as well as earning money through its activities.
Police said the investigation also involves allegations of criminal breach of trust against investors who had deposited money into the scheme.
The suspect was arrested on Thursday (05) over alleged offences under the Prevention of Money Laundering Act and the Banking Act.
Further investigations are being conducted by the Financial Crimes Investigation Division. (Newswire)