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Sakvithi, wife arrested They returned 6 months ago


The arrest of Sakvithi Ranasinghe and his wife, Anuradha, at Nawagamuwa yesterday, in connection with misappropriating over Rs. 1 billion in depositors funds, could lead to many politicians, businessmen, media personalities and police officers being exposed for their involvement in his fraudulent deals. His was one of the biggest scams to rock the country second only to the Golden Key Credit Card Company racket.

The Mirihana police swooped on the house of a relative of Anuradha, where they arrested her husband Sakviti, who had grown a beard to escape detection. They had come there along with their children to pay their last respects to a relative, a senior police official said.

Police spokesman SSP Prishantha Jayakody told The Island that some people at the funeral had alerted the Mirihana police to the presence the wanted couple. The suspects are now with the Criminal Investigation (CID) Department.

They are believed to have returned recently after spending sometime abroad and stayed in the Wattala police area.

The police, investigating the biggest financial fraud committed by a person who called himself ‘Sakvithi Sir’, questioned several persons involved in the S. R. Property Sharing Investment (Private) Limited, set up by the suspect.

There has been no final computation yet on the total extent of deposits taken by the company though it had over 4,000 depositors. According to rough estimates, the amount is over one billion rupees.

Police said that though the suspect was known as Sakvithi Ranasinghe, the company had been registered by a person identified as Abaya Ranasinghe Mudiyanselage Chandana Weerakumara and Jamburuthugoda Gamage Kumari Anuradhini of 175/4, Madiwela Road, Embuldeniya, Nugegoda.

Sources said that depositors were offered a monthly interest of Rs. 4,000 to Rs. 6,000 for each Rs. 100,000 deposited with him.

Sakvithi had also offered a monthly interest of Rs. 6,000 for deposits of Rs. 200,000 or more. The advertisement published by Sakvithi House Constructions (Pvt) Limited gave mobile telephone numbers of four of Sakvithi’s employees responsible for bringing in new deposits.

Sources said that the suspect had given two luxury cars to two young girls employed at his office. They played a critical role in deceiving the victims, sources said, adding that some of the employees may have taken money secretly despite the majority of them being the recipients of handsome commissions for bringing in fresh investments

The arrest of Sakvithi Ranasinghe  video 2
The arrest of Sakvithi Ranasinghe  Video 3


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