Four managers of leading private commercial banks and a businessman arrested over the alleged illegal transfer of around USD 1 billion overseas without importing any goods have been further remanded until 3 September.
The five suspects were arrested on 17 August by the Financial Crimes Investigation Division of the Criminal Investigation Department (CID) and were initially remanded until today (20).
Those arrested include four managers attached to four leading private commercial banks and a businessman alleged to have been involved in the money transfer scheme.
Investigations have revealed that the alleged mastermind behind the operation had made weekly payments to the bank managers, according to investigators.
One manager is alleged to have received Rs. 30,000 a week, another Rs. 50,000 and a third Rs. 100,000 weekly.
Investigators have also uncovered information indicating that one of the bank managers had received approximately Rs. 1 million on one occasion.
The CID’s Financial Crimes Investigation Division is conducting further investigations into the alleged illegal transfer of funds overseas.
