A municipal councillor from Kegalle has been remanded until September 9 over allegations of misappropriating more than Rs. 20 million under the guise of a cabana project.

According to reports, the 34-year-old suspect represents the Olagama division of the Kegalle Municipal Council under the National People’s Power (NPP).

He was arrested by the Colombo Central Crime Investigation Bureau (CCIB) around 10:25 am at a hotel in the Kegalle–Yattogoda area yesterday and produced before the Kandy Magistrate’s Court in the afternoon.

Magistrate Nalaka Weerasinghe ordered that the suspect be remanded until September 9, postponing the case to that date.

The complaint was lodged by a businessman from Kandy, who alleged that the councillor obtained Rs. 26 million claiming he would develop a cabana project on land at Minuwangamuwa along the Kegalle–Deewela road. 

However, the project was never constructed, and the funds were allegedly misused.

The businessman initially complained to the Kegalle Police, who reported the matter to the Kegalle Magistrate’s Court through a “B report.” 

The case was later referred to the CCIB, which also submitted a “B report” to the Kandy Magistrate’s Court.

The court, considering the evidence presented, ordered the councillor’s remand until September 9. (Newswire)

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A complaint has been lodged with the Thalangama Police alleging that a stock of textbooks and activity books valued at approximately Rs. 800,000 issued by the Educational Publications Department was not properly handed over to designated distribution centers.

The complaint was made by a senior female officer of the department, who reported that 19,892 Tamil Grade One textbooks and activity books meant for the third term had not been delivered as required.

According to the complaint, although permission was granted on May 4 to a contracted institution to transport the books, they were not distributed to the 12 centers in the Eastern Province as scheduled.

The incident has raised concerns over the handling of educational materials, with police confirming that further investigations are underway. (Newswire)

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The Welfare Benefits Board has issued a strong warning to the public after reports emerged of fraudsters telephoning Aswesuma beneficiaries across the island, posing as officials of the main office.

According to the Board, callers have been requesting personal information under the guise of official purposes and then demanding money payments. 

The Welfare Benefits Board stressed that these activities are carried out without any knowledge or approval of the Board, which under no circumstances charges money for such work.

Beneficiaries are urged to remain vigilant and not to respond to such fraudulent demands. 

Those who have already received suspicious calls are requested to lodge complaints with their Divisional Secretariat Office or the Criminal Investigation Division of the relevant police jurisdiction.

The Board emphasized that protecting beneficiaries from exploitation is a priority and reminded the public that all official Aswesuma services are provided free of charge. (Newswire)

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Former Provincial Council member Jayalath Bandara Dissanayake, brother of former Minister S.B. Dissanayake, who was arrested in connection with a financial fraud case, was released on bail by the Nugegoda Magistrate’s Court.

The Magistrate today (15) ordered his release on two sureties of Rs. 10 million each and a cash bail of Rs. 50,000, while also imposing a travel ban preventing him from leaving the country.

The arrest followed investigations by the Financial and Commercial Crimes Investigation Unit of the Central Crimes Investigation Division, after a complaint was lodged alleging that Dissanayake had defrauded a resident of Weeraketiya of Rs. 27.5 million by promising to provide a liquor license. (Newswire)

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The Colombo Fort Magistrate’s Court today directed the Criminal Investigation Department (CID) to submit a progress report on August 5 regarding investigations into the alleged fraudulent withdrawal of USD 2.5 million in government funds belonging to the Central Bank of Sri Lanka during a Treasury loan repayment.

The case was taken up before Magistrate Pasan Amarasena. 

CID officials informed court that 16 terabytes of computer data linked to the probe had been referred to the University of Colombo for further examination, but reports have not yet been received.

The CID further noted that government analyst reports connected to the incident are also pending.

After reviewing the submissions, Magistrate Amarasena ordered the CID to update the court on the status of the investigations by August 5. (Newswire)

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Sri Lanka Police have launched an investigation into a cyber‑threat and extortion email network operating under the name of the Inspector General of Police (IGP).

The probe, led by the Special Task Force Cyber Security and Open Source Investigation Unit in coordination with the Cyber Crime Coordination Centre, has uncovered forged signatures and impersonation tactics designed to deceive the public.

Authorities warn that such activities could seriously damage the reputation of the Police and erode public trust. 

Citizens are urged to remain vigilant and follow these precautions:

• Do not panic or be unnecessarily alarmed
• Avoid responding to suspicious or threatening messages, and never make payments requested
• Do not click on links contained in such emails
• Report incidents immediately to the nearest police station, the Computer Crime Investigation Division, or the Police Special Task Force

Sri Lanka Police have assured that all necessary measures are being taken to identify and prosecute those behind these fraudulent activities. (Newswire)

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The US Justice Department officially moved to drop its fraud case against Indian billionaire Gautam Adani, according to a Monday federal court filing, ending a years-long prosecution for allegedly participating in a $250 million bribery scheme for a major solar project. 

In a short filing on Monday, the prosecutors said the Justice Department “has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants.”

The move to end Adani’s prosecution was expected after the Trump administration suspended enforcement of the Foreign Corrupt Practices Act last year, which the Justice Department used to charge the billionaire in 2024.

Judge Nicholas G. Garaufis, a federal judge in the Eastern District of New York, must still approve the move to drop the charges.

Earlier on Monday, the Treasury Department’s Office of Foreign Assets Control said it also settled with Adani Enterprises Limited for violating sanctions against Iran, agreeing to drop a civil case against the billionaire’s business for a $275 million settlement.

Days earlier, the Securities and Exchange Commission also settled a civil fraud lawsuit with Adani, with the billionaire and his nephew Sagar Adani agreeing to pay $18 million while not admitting to any wrongdoing.

Forbes Valuation

Forbes estimated Adani’s net worth at $80.8 billion, making him the 25th-wealthiest person in the world and the second-wealthiest person in India, behind only Mukesh Ambani. Adani’s fortune is primarily derived from his ownership of the Adani Group, an Indian multinational conglomerate involved in energy and transportation, which serves as the largest airport manager in the country.

What To Watch For

Last week, the New York Times reported the Justice Department was considering dropping charges against Adani after the billionaire hired a new legal team headed by Robert J. Giuffra Jr., the co-chair of Sullivan & Cromwell and President Donald Trump’s former personal attorney.

According to the report, Giuffra presented Justice Department prosecutors with an unusual plan: if prosecutors dropped charges against the billionaire, he was prepared to invest $10 billion in the United States and create 15,000 jobs, according to the report. 

Adani had previously made the same promise immediately after Trump was elected in 2024. 

Reuters confirmed the reporting on Monday, citing a source familiar with the matter, and Giuffra reportedly told prosecutors that Adani’s planned investment could not go through due to the criminal case against him. (Forbes)

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US authorities plan to drop fraud charges against Indian billionaire Gautam Adani, which were first unveiled in 2024, according to a Bloomberg report citing persons familiar with the matter. 

In a significant breakthrough for the Adani Group, the US Justice Department and the Securities and Exchange Commission (SEC) could resolve charges related to Gautam Adani as soon as this week, roughly 18 months after they accused the Indian magnate of involvement in a bribery and fraud scheme.

Adani’s hiring of Robert Giuffra, one of US President Donald Trump’s personal lawyers, and an offer to invest $10 billion in the US economy played a key role in the US government’s decision, a report in the New York Times added.

In 2024, the US Attorney’s office in New York’s Brooklyn released a criminal indictment which alleged that Gautam Adani, his nephew Sagar Adani and other executives were involved in a scheme to bribe Indian government officials in an effort to secure a solar energy contract worth billions of dollars. In addition, the indictment alleged that the Adanis subsequently misled investors about the bribery scheme as they attempted to court investments from America and international investors.

“As alleged in the indictment, between approximately 2020 and 2024, the defendants agreed to pay more than $250 million in bribes to Indian government officials to obtain lucrative solar energy supply contracts with the Indian government, which were projected to generate more than $2 billion in profits after tax over an approximately 20-year period (the Bribery Scheme),” reads the indictment, which alleges that Adani personally met with an Indian government official to discuss the bribery scheme.

The legal charges against the Adani group represented a serious challenge to the firm’s ability to conduct business in the United States. For its part, the Adani Group dismissed the charges as “baseless”.

“Despite all the noise, the facts are that no one from the Adani Group has been charged with violating the FCPA (Foreign Corrupt Practices Act) or conspiring to obstruct justice,” said Adani Group Chairman Gautam Adani at the firm’s Annual General Meeting in June last year. 

Even as the legal process surrounding the bribery and fraud charges played out in the US system, the Adani group built a substantial influence operation in Washington in an effort to address the charges with the Trump administration. 

Adani Green Energy Limited was the third largest Indian lobbying spender in 2025, with a $50,000 lobbying spend on two firms – Kirkland and Ellis LLP and Quinn, Emanuel, Urquhart and Sullivan LLP. Both firms focused on “green energy issues and related criminal and civil matters”. Adani North America and affiliates are also registered as a lobbying firm on behalf of the Adani group.

According to the New York Times, Adani lawyer Robert Giuffra met with Justice Department officials last month in Washington and argued that US prosecutors did not have the evidence or jurisdiction to bring a case against the Adanis.

In addition, Giuffra outlined the group’s willingness to invest $10 billion in the American economy and create 15,000 jobs if the charges were dropped. This offer piqued the interest of senior Justice Department officials, the NYT reported. (Hindustan Times)

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The Criminal Investigation Department (CID) has arrested the Controller of Information Technology and Internal Control at the Department of Immigration and Emigration, over an alleged financial fraud linked to the installation of official software.

According to Media reports, the CID’s Financial Crimes Investigation Division said the arrest followed inquiries into a payment of Rs. 9,831,250 made for a “User Management Module” software that was never installed. 

Investigators allege government funds were fraudulently obtained without delivering the system.

The Police confirmed the suspect was taken into custody under charges filed in terms of the Prevention of Money Laundering Act.

Further investigations are underway into the misuse and misappropriation of government funds. 

The suspect is scheduled to be produced before the Kaduwela Magistrate’s Court, while the CID continues its probe. (Newswire)

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The Department for Registration of Persons has issued a public warning after it was revealed that certain parties are misusing the department’s hotline number and name to obtain personal information and commit financial fraud.

According to the statement, calls have been made using numbers similar to the official hotline, including +94115226126, +0115226126, and mobile numbers 0771167739 and 0742756098, to deceive individuals. 

The department said fraudsters have also created a mobile application using the state emblem, falsely claiming to register details for a digital identity card or e‑National Identity Card.

The department stressed that it does not carry out such registrations and urged the public not to provide personal information to suspicious calls or fraudulent websites, including the fake website https://drpgov-lk[.]com, which resembles the official site of the department. 

Reiterating its position, the Department for Registration of Persons advised citizens to remain vigilant and avoid falling victim to such scams. (Newswire)

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National Development Bank PLC (NDB) has commissioned Deloitte Touche Tohmatsu India LLP to conduct a forensic review into the facts and circumstances surrounding the recent fraud incident, the bank disclosed in a filing to the Colombo Stock Exchange dated April 23, 2026.

The review, carried out in consultation with the Central Bank of Sri Lanka’s Director of Bank Supervision, will examine the fraudulent transactions as well as any lapses in controls, oversight, and governance. 

Deloitte’s findings, including interim updates and the final report, will be submitted directly to the Central Bank.

The disclosure follows earlier updates on April 2 and April 6, with NDB’s Board stressing its commitment to transparency and accountability to shareholders, depositors, customers, and stakeholders.

The move comes as NDB disclosed that an internal fraud involving certain employees was detected, with the estimated exposure amounting to approximately Rs. 13.2 billion. 

At the time, the bank said customer balances remain unaffected, and operations continue without disruption. 

Soon after, the Central Bank of Sri Lanka (CBSL) announced that NDB, in consultation with CBSL, is finalizing arrangements to engage a leading international firm with overseas experts to conduct a comprehensive forensic audit into the recently disclosed internal fraud.

As such, NDB has now commissioned Deloitte Touche Tohmatsu India LLP (“Deloitte”) to conduct a forensic review of the incident. (Newswire)

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The Sri Lanka Transport Board (SLTB) is losing nearly Rs. 20 million each day due to fraudulent practices by bus conductors, Transport Minister Bimal Rathnayake revealed at a public event.

Calling the losses a leakage of public funds, Rathnayake said not just buses, but the entire SLTB administration, including its human resources framework, has been destroyed.

Despite the crisis, the Minister firmly rejected speculation of privatization. “We will not sell SLTB. We will develop it,” he declared, promising sweeping reforms to restore accountability and efficiency.

Rathnayake warned that officials and employees unwilling to adapt to new standards would be removed. He urged the drafting of new regulations if necessary and pledged decisive action against corruption.

“Those who don’t change will be removed,” he warned. (Newswire)

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The National Development Bank PLC (NDB) says the estimated loss from the recently reported fraud incident amounts to approximately Rs. 13.2 billion, while assuring that customer deposits remain unaffected and banking operations continue as normal.

In a corporate disclosure issued on 6 April, the bank said investigations determined that the fraud was confined to a specific operational area and involved certain employees acting in collusion. NDB said it is treating the matter with the highest urgency and is working with law enforcement authorities to recover the funds.

The bank said all implicated employees have been suspended and their system access revoked, while individuals connected to the fraud have been arrested. The affected operational unit has also been placed under separate oversight with revised reporting structures and enhanced access controls across the organisation.

NDB said that in the worst-case scenario, the incident would result in an unaudited loss after tax of approximately Rs. 4.0 billion for the quarter ended 31 March 2026, after making full provision for the maximum expected loss.

The bank further noted that it recorded a net profit after tax of Rs. 11.0 billion for the year ended 31 December 2025, with a Rs. 3.5 billion profit in the fourth quarter of 2025. NDB added that its total asset base of approximately Rs. 990 billion as at 31 March 2026 would be impacted by around 0.7 per cent due to the incident.

Despite the impact, the bank said its Common Equity Tier I, Tier I and Total Capital Adequacy Ratios will remain above the minimum regulatory requirements of 7.0 per cent, 8.5 per cent and 12.5 per cent, respectively.

NDB also said the Central Bank of Sri Lanka has been kept fully informed and has extended regulatory support and oversight to ensure adequate liquidity and capital, and maintain stability.

The Central Bank has further directed the bank to suspend the cash dividend payable to shareholders on 6 April 2026, while allowing the scrip dividend to proceed as planned.

The Board of Directors has also decided to appoint an independent forensic auditor to conduct a thorough review of the fraud, its causes and internal controls.

In a separate statement, NDB reiterated that customer balances remain intact and secure, with normal banking operations continuing without interruption. The bank urged the public to avoid speculation or spreading unverified information, adding that customers seeking clarification may contact their nearest NDB branch, relationship manager or customer service hotline on 011 744 8850. (Newswire)

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The National Development Bank PLC (NDB Bank) says customer deposits and operations remain unaffected after the bank identified fraudulent activity involving internal personnel acting in collusion with external parties.

In a statement, NDB Bank said it wishes to assure all customers and stakeholders that the situation has no impact on customer deposits, account balances, or the bank’s day-to-day operations, noting that all funds remain safe and secure while business continues as usual.

The bank said the matter has been reported to law enforcement authorities, with both internal and external investigations currently underway.

NDB Bank also said it is working closely with authorities to pursue recovery action against those responsible, adding that further details will be shared once verified information becomes available.

The statement follows an earlier disclosure to the Colombo Stock Exchange in which the bank revealed that it had detected a fraud involving certain employees acting in connivance with third parties, with preliminary estimates indicating a potential loss of around Rs. 380 million. The bank noted at the time that the final amount could be higher pending the outcome of investigations.

NDB Bank further said it is taking steps to strengthen internal controls following the incident and urged the public to avoid speculation or spreading unverified information.

Customers seeking clarification have been advised to contact their nearest NDB branch, call centre, or relationship manager for accurate information.

NDB Bank also reaffirmed its commitment to transparency, accountability, and maintaining the continued trust of customers and stakeholders. (Newswire)

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A 32‑year‑old resident of Medawachchiya has been arrested by the Criminal Investigation Department (CID) for allegedly assisting in a scheme to fraudulently withdraw money from the Employees’ Provident Fund (EPF).

The suspect, taken into custody yesterday (18), is accused of aiding and abetting the crime by conspiring with others who had submitted forged documents claiming entitlement to permanent government pension appointments.

Earlier, six men and two women were arrested in connection with the same case and remanded after being produced before the court. The latest arrest involves the husband of one of the previously detained female suspects.

The CID said the suspect will be produced before the Medawachchiya Magistrate’s Court. Investigations into the fraudulent withdrawals are continuing. (Newswire)

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A state bank manager has been remanded until February 09 over an alleged fraud exceeding Rs. 163 million, in which imitation items were pawned as gold at the very bank he served. 

Colombo Additional Magistrate Oshadha Migara Maharachchi issued the order following a request by the Financial and Commercial Crimes Investigation Division of the Criminal Investigations Department (CID).

The court was informed that the suspect had committed offences under the Public Property Act by carrying out the fraud on 26 occasions over two years. 

The suspect, identified as Indika Nishantha Adhikari, a manager of a state bank in Colombo, was arrested, produced in court, and placed in remand custody pending further investigations. (Newswire)

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A foreign employment agency that had its license temporarily suspended due to involvement in overseas job fraud has been raided by the Special Investigation Unit of the Sri Lanka Bureau of Foreign Employment (SLBFE).

The raid was carried out on Thursday (20) in the Maradana area, following information that the agency was continuing to recruit workers for foreign employment without a valid license.

Investigations revealed that the agency’s license had been suspended after receiving 85 complaints related to foreign employment fraud. During the raid, the license holder and three officials working at the agency were taken into custody by investigators.

Authorities also seized a large number of documents, including 256 foreign travel passports, believed to be linked to fraudulent recruitment activities.

The suspects were produced before the Maligakanda Magistrate’s Court yesterday (21).

The SLBFE has urged the public to exercise caution when seeking foreign employment.

It advised that before handing over money or passports to any agency or individual, applicants should verify whether the agency holds a valid license and whether it has received official job orders.

For verification, the public can visit the official SLBFE website (www.slbfe.lk) or contact the 1989 hotline for instant information. (Newswire)

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Four suspects have been arrested for defrauding Rs. 569,610 from an individual under the pretext of purchasing a water motor. 

According to the Police, the arrested group are the chief suspect and three others who had aided the financial fraud.

An investigation had been launched into the fraud following a complaint received by the Wayamba Province Computer Crimes investigation Unit of the Criminal Investigations Department in May last year.

Based on the probe, the suspects aged between 30 and 38 years were arrested in the Muruthalawa area yesterday. 

Investigations have found that they had pretended as customers interested in purchasing a water motor advertised online, and had obtained the One-Time Password (OTP) linked to the seller’s bank account to deposit money, but had instead defrauded the money. 

The four suspects are to be produced before the Wariyapola Magistrate’s Court today. The Wayamba Province Computer Crimes investigation Unit of the CID is conducting further investigations. (Newswire)

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The Police have warned Sri Lankan citizens returning from overseas of financial fraud related to car rentals. 

According to the Police, Sri Lankans returning from abroad are requested to remain vigilant when obtaining car rental services via online.

They have been urged to verify details of the car rental company before making payments.

The Police state they have received reports of fraudsters obtaining money, disconnecting their phones, and not providing the service. (Newswire)

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The Sri Lankan Police has warned the public of various fraudulent activities being carried out by exploiting social media platforms such as Telegram, WhatsApp, etc., via the internet.

According to the Police, there are instances where fraudsters are obtaining the account details (Username/Password) of unsuspecting individuals through various methods, including QR codes, and subsequently blocking the original owners from their online accounts.

The Police state these fraudsters are engaging in such activities by requesting money for fake job opportunities.

As such, the public has been informed to remain vigilant of fraudulent schemes online and to be aware of such activities. The public has been warned as follows;

• To be cautious of fraudulent and income-generating schemes carried out through familiar social media platforms (such as Telegram, WhatsApp, etc.) and groups, even if they appear to be managed by known persons or familiar social media platforms.
• To avoid using internet links and website addresses sent by known persons or familiar social media platforms and groups.
• To be wary of requests from known persons on platforms like Viber to deposit money into their accounts, to engage in currency exchange with them, or to use one’s own bank account on behalf of others for transactions.
• To never share account details or OTPs with unknown persons under any circumstances.
• To be cautious and use secure methods when making online payments or using internet links recommended by known persons, and to verify the authenticity of such requests. (Newswire)

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