Bank managers arrested in Sri Lanka over an alleged US$1 billion foreign currency transfer scheme involving imports that reportedly never arrived.
Four bank managers arrested by Sri Lanka’s Financial Crimes Investigation Division are under investigation over an alleged US$1 billion foreign currency outflow linked to imports that reportedly never reached the country.
Police said the four managers worked at four separate private commercial banks. Officers reportedly arrested each suspect at their respective banking institutions.
The investigation centres on a money changer operating from Colombo Fort. Police allege that the individual transferred approximately US$1 billion overseas without importing goods into Sri Lanka.
Weekly Payments Allegedly Made to Bank Officials
Investigators allege that the main suspect made weekly payments to the four banking officials.
The payments reportedly varied between Rs. 30,000, Rs. 50,000 and Rs. 100,000 at different times.
Investigators also allege that one of the four managers received approximately Rs. 1 million in a single payment.
The arrests are being described as the first of their kind in Sri Lanka.
Further investigations into the alleged transactions and payments remain underway.
The bank managers arrested are being investigated by the Financial Crimes Investigation Division of the Criminal Investigation Department, police said.
No finding of guilt has been made against the suspects, and the allegations remain subject to investigation and judicial proceedings.
