A 54-year-old man from Kandy has been arrested for operating a financial institution without the approval of the Central Bank of Sri Lanka.
He has been accused of defrauding Rs. 9.9 billion.
Police said he is accused of embezzlement and also money laundering.
He is the director and a shareholder of the company which has been in operation without a license from the Central Bank.
The suspect is a resident of Kandy View Garden Road.
The Police Financial and Commercial Crime Investigation Unit is conducting further investigations.
(newsradio.lk)
(Except for the headline, this story, originally published by newsradio.lk has not been edited by SLM staff)
