Feb 02, 2019

CID probes into Sampath Bank financial fraud! Featured

The Kaduwela Magistrate Prasanna Alwis had instructed the CID to carry out a comprehensive investigation regarding the alleged financial fraud at the Sampath Bank.

The CID had notified court that it had been revealed through their investigations that a Bank Manager of Sampath Bank together with a provincial manager and branch manager had been involved in defrauding millions of rupees of depositors’ money.

This massive fraud had come to light due to a complaint made to the CID by a native doctor who had been a victim of this scam.

Accordingly, the CID had filed a case (19430) at the Kaduwela Magistrate’s Court.

In regard to the case the CID had arrested three persons including a bank manager and they were produced before court and remanded.

It is reported that with the said fraud at Sampath bank coming to light, many depositors are withdrawing their deposits from the bank.

The media had reported that in order to prevent this massive financial fraud being exposed, the higher officials at the bank had pressured the media to prevent it being published.

However, the bank had eventually accepted that there had been a massive fraud committed, but refrained from providing further details due to ongoing investigations.

The bank had issued this statement in respect of the news published in the Daily Telegraph web site and the eventual social media response.

The bank had noted however, that certain parts of the report published by the web site were false and misleading.

By last week the Sampath Bank shares in the stock market had risen by Rs. 2.00 to Rs. 239.70.