Kalutara Nagoda SANASA Bank Manager arrested for a 150 million fraud

The manageress and secretary who worked at a SANASA bank branch established in the Nagoda Kalutara area have been arrested by a team of officers from the Kalutara Crimes Division in connection with a massive financial irregularity amounting to Rs. 150 million (15 crore) said to have occurred there. During the preliminary police investigations conducted, it has been revealed that nearly Rs. 150 million out of the total deposit assets of Rs. 170 million belonging to the said bank has been misappropriated by these two individuals through various fraudulent methods.

According to information revealed during the examination of bank audit reports, only Rs. 20 million has been properly granted as loans to bank members, while the remaining funds have been defrauded in violation of bank regulations. During preliminary investigations, evidence has been found that the bank manageress directly defrauded Rs. 2.5 million and the secretary directly defrauded Rs. 1.4 million. Furthermore, while the maximum loan amount an individual can obtain according to bank rules and regulations is limited to Rs. 500,000 (five lakhs), it has also been revealed that over Rs. 51 million has been illegally granted as loans solely to the relatives of the two suspect officials.

Investigating officers have discovered that a massive sum of Rs. 60 million has gone missing in this financial irregularity, without being recorded in any documents or bank reports. The police confirm that those arrested are the manageress residing in Panwila, Kottawatta area, Kalutara South, and the secretary residing in Adhikarigoda area, Kalutara South. The Kalutara Crimes Division is conducting further investigations into this large-scale financial fraud.