Cheque encashment fraud:

Seven arrested

Sarath Malalasekera

The Criminal Investigation Department probing the massive racket of encashing foreign cheques for Rs. 42 million on forged documents have taken seven suspects into custody.

The suspects produced before the Matale Magistrate were remanded pending the completion of investigations.

The Modus Operandi of the suspects was obtaining foreign cheques from friends abroad and encashing them in Sri Lanka on forged documents from local private banks.

The DIG CID had deployed a special CID team headed by a senior officer to conduct investigations into the racket.

The investigators will seek Interpol assistance to obtain more information about the racket.