Please check this, it was in the Sunday Times today.
Private bank manager diddled docs
The manager of the Anuradhapura branch of a private bank has been taken into custody for defrauding over 23 doctors to the tune of nearly one billion rupees by promising to invest their money in Treasury Bills but instead lending the money to third parties at a higher interest rate.
The man who had been employed since 2011 at the Anuradhapura Branch of the Citizen’s Development Bank had befriended doctors and others professionals and persuaded them to hand over their money to him with the promise he would in turn, invest the monies in Treasury Bills. Genuine receipts were issued by him for the money handed over to him.
Some doctors had deposited amounts ranging from Rs. 5 million to Rs. 10 million while some businessmen had handed over amounts ranging from Rs. 40 million to Rs. 50 million, since 2012. For about two years the interest rate had been paid to the depositors so they did not notice things were amiss.
In April Police had begun to investigate the investment after some of the depositors had complained that their interest was not being paid. The case was later handed over to the CID.
It is learnt that the employee who has been identified as Athula Thillkaratne (38), had won over the doctors and other depositors and persuaded them to hand over the money to him. In turn he had lent the money to others at a higher interest rate and also engaged in other businesses using the money. However the interest to the depositors had been paid on the due dates so no suspicions were aroused.
He had attempted to flee the country prior to the commencement of the investigation but had been turned back as it was found he was a Navy deserter.
The CID is investigating if there were accomplices involved in the fraud.
Last edited by stocksira on Mon Sep 08, 2014 1:34 am; edited 2 times in total