CID launches investigation into another alleged fraud involving Commercial Bank

2026-03-06 - 13:17

The Criminal Investigation Department (CID) informed the Colombo Chief Magistrate’s Court the day before yesterday that a comprehensive investigation is being conducted into an incident in which large sums of money were allegedly fraudulently obtained by claiming that gift parcels would be delivered, using bank accounts maintained at the leading private bank Commercial Bank. Officials of the Financial and Commercial Crimes Investigation Division of the CID submitted a report to Colombo Chief Magistrate Asanga Bodaragama, stating that statements had been recorded from several individuals, including K.M. Oshadha Navaratne, a senior official at the bank’s head office, and that further investigations are being carried out. The investigation was launched following a complaint made to the CID by the Financial Intelligence Unit of the Central Bank of Sri Lanka. CID officers informed the court that nearly Rs. 1.8 million had allegedly been obtained from individuals by maintaining a suspicious account at the Trincomalee branch of the bank, while claiming that gift parcels would be delivered. In connection with the incident, a suspect residing in Kantale, Trincomalee, has been arrested and produced before court. The Chief Magistrate ordered that the suspect be released on personal bail of Rs. 500,000 and directed the CID to report the progress of the investigation.