A suspect arrested over an alleged scheme to illegally transfer nearly Rs. 190 billion out of Sri Lanka under the guise of importing goods has been remanded until July 9 by the Colombo Chief Magistrate’s Court.
The suspect, Jeffrey Mohamed, was produced before Colombo Chief Magistrate Asanga S. Bodaragama after being arrested and detained by the Financial Crimes Investigation Division (FCID).
Senior State Counsel Oswald Perera told court that Jeffrey Mohamed had allegedly transferred close to Rs. 190 billion overseas by falsely claiming to import goods from foreign countries.
According to the prosecution, the money was remitted in US dollars through telegraphic transfers using a Colombo Fort-based company, A.Y. Investment.
Investigators further alleged that Jeffrey Mohamed had opened multiple bank accounts in his own name and in the name of the company at selected banks to facilitate the transactions.
The court was also informed that investigators have identified at least 36 other companies allegedly linked to similar financial transactions.
Further investigations are underway. (Newswire)