Man who duped over 4,000 unsuspecting investors:

Con king Sakvithi arrested

* Tip off given by Civil Defence Committee

* CID takes over investigation

Chaminda PERERA

Mirihana Police yesterday arrested ace fraudster Sakvithi Ranasinghe, the main suspect in the country’s largest scam, at Ambagahahandiya in Nawagamuwa yesterday.

Ranasinghe through his illegal financial company duped over Rs five billion from unsuspecting investors promising lavish interests for their investments.

Thousands of people complained to Mirihana Police over this massive financial fraud.

Ranasinghe was issued an arrest warrant by court and the Police Department had sought Interpol assistance to nab him. According to Police sources, Ranasinghe and his family had left the country after the Central Bank exposed the scam following a raid on his office.

He, along with his wife returned to the country six months ago and were living in disguise in a rented house at Wattala.

According to Police sources, Ranasinghe’s wife had told him that she wanted to visit her parents and left to the parental house in Nawagamuwa.

However, a member of the Civil Defence Committy in the area where her parental house is located, had noticed her arriving and informed Mirihana Police. Mirihana Police dispatched a special team on receipt of information and arrested the woman and a man who was with her.

The man who uttered that he was not Sakvithi when Police inquired his name, later admitted that he was Sakvithi who ran the illegal investment company. He was in disguise at the time of arrest.

Mirihana Police had received over 4,000 complaints from investors including veteran artistes, cricketers and many other prominent figures. Mirihana Police dispatched the dossier containing 2,000 complaints against Ranasinghe to the Criminal Investigation Department (CID) after it took over investigations.

Mirihana Police handed over Ranasinghe and his wife to the CID for further investigations. Police Spokesman SP Prishantha Jayakody said the investigations are on and information would be released to the media after they are completed.

Few days after the Sakvithi’s scam was bared, the Police Department in a media communique sought public assistance to trace the whereabouts of directors and top officials of the Sakvithi Group of Companies. The main suspects of the Sakvithi scam are Chandana Weerakumara Ranasinghe alias Sakvithi Ranasinghe, his wife J.G. Kumari Anuradhini, Secretary and company lawyer J.A. Sharmila Fernando, Directress Chathuru Sarachchandra, Chanaka Siriwardena and General Manager D. S. Adhikari. Kalakeerthi Edwin Ariyadasa was the director for educational affairs.

Seven suspects including artiste Edwin Ariyadasa were released on bail. It was later revealed that Ranasinghe obtained the assistance of well-known figures in society such as Ariyadasa to attract more investors.

The CID probing the Sakvithi scam took four employees and 32 vehicles into custody.

There were 27 motorbicycles, three cars and two Prado Intercoolers which were allegedly used by Ranasinghe.

The Department also recovered a CD consisting of details of depositors and their address on November 5, 2008. The CID Police team succeeded in apprehending a police officer who was aiding and abetting Ranasinghe.

A man who helped Ranasinghe leave the country to Chennai with his family was also arrested. Ranasinghe and his family were believed to have left for Malaysia.