Drug Proceeds Sent Overseas Through Sham Import Operation

COLOMBO (News 1st); A man accused of illegally sending foreign currency out of the country has been arrested in Periyamulla, Negombo, police said. 

Officers from the Financial Crimes Investigation Division took the suspect into custody. Authorities allege he opened bank accounts in the names of multiple people to move dollars abroad under the pretext of importing goods, and used those accounts to transfer the foreign-exchange unlawfully. 

Police say he fabricated documents and committed fraud to facilitate the transfers. They further allege he deposited proceeds from drug trafficking into his company accounts and discreetly remitted those funds overseas; inflated the declared value of imported goods to evade customs duties and taxes by transferring money to foreign firms for sham imports; and used illicit proceeds to buy property and assets, actions that may constitute offences under anti–money laundering laws. 

Police say the suspect transferred large sums of US dollars overseas through domestic banks on behalf of 89 local companies that, from 1 January 2023 to 15 September 2025, did not actually import the declared goods. 

The Sri Lanka Customs has filed a complaint with the Inspector General of Police in connection with the case. The arrested man is a 35-year-old resident of Wellawatta.