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Home > New Fraud Hits Sri Lankans By Storm, Over 8,000 People Lose Billions

New Fraud Hits Sri Lankans By Storm, Over 8,000 People Lose Billions

The Criminal Investigations Department (CID) has launched an investigation into a new financial fraud which so far has involved Rs.14 billion with 8,000 people being victims in a fake crypto currency scheme.

Police Spokesman SSP Nihal Thalduwa said that the alleged fraud was carried out by a Chinese couple and a Sri Lankan citizen and 8,000 people had fallen victim to it since 2020.

The spokesman said the suspects had invited selected individuals to five star hotels and influenced them that there would be high profits by investing in crypto currency.

He said the Chinese couple and the Sri Lankan were the masterminds behind the fraud and won the trust of their victims by inviting them to lavish dinners.

However, when the investors had tried to withdraw the profits they had earned through the investments, the suspects had not allowed them to withdraw the funds.

SSP Thalduwa said a number of complaints had been received at the Financial Fraud unit of the CID. After lengthy investigations, they had arrested the Chinese couple at the Bandaranaike International Airport when they had tried to flee the country. The Chinese couple is currently in remand custody.

The Sri Lankan involved in the fraud was arrested on October 11. He was later released on bail after being produced in court.

Meanwhile, the spokesman said several other suspects were also arrested over the fraud and were remanded.(Darshana Sanjeewa Balasuriya)