Jun 26, 2020

Man remanded for siphoning Rs. 103 m from Vallibel Finance PLC Featured

Millions at the renowned Vallibel Finance PLC chaired by business tycoon - Dhammika Perera, has been fraudulently siphoned to other accounts using bogus email accounts, reports say.

A staggering Rs. 103 million has been siphoned in this manner, reports add.

A suspect has been arrested in this regard on June 08 and Fort magistrate - Ranga Dissanayake yesterday (25) ordered to hold the suspect further in remand custody until July 08.

According to CID investigations, the suspect, identified as one Baravindran Umesh had siphoned the money to his wife's bank account, together with an accomplice in India.

The CID has informed the court that an extensive investigation is underway to ascertain whether a Nigerian national is involved and to search for the suspect's accomplice.