Two suspects further remanded over Rs. 190 b illegal fund transfers

Friday, 6 November 2026 00:01 - - {{hitsCtrl.values.hits}}

Colombo Chief Magistrate Asanga S. Bodaragama yesterday ordered the further remand of two suspects, including Jiffry Mohamed, until 12 November over an alleged illegal transfer of Rs. 190 billion to foreign countries under the guise of importing goods into Sri Lanka.

The first and eighth suspects in the case were produced before the court by prison officials. Officers of the Financial Crimes Investigation Division (FCID) informed the Magistrate that objections to granting bail to both suspects had been filed.

The investigating officers said they were taking steps to obtain final assessment reports and other relevant documentation relating to the import and export transactions under investigation, which would be submitted to court.

They also informed the court that statements would be recorded from individuals involved in establishing the companies concerned and laying their foundations, with the statements to be presented as part of the investigation.

The FCID further said inquiries were continuing into the alleged involvement of Jiffry Mohamed and the eighth suspect, while investigations were also being conducted to establish whether any links existed between bank officials and the companies under scrutiny. Relevant statements would be submitted to court.

Having considered the submissions, the Magistrate said the bail order would be delivered on 12 November and directed that the two suspects remain in remand custody until then.