According to reports, Joy had visited Sri Lanka some time ago and did a survey into the possibility of opening a bank here. For that, he has maintained links with VIPs and top management level officials, who have enlightened him on the possibility of buying ETI. They have also told him about the opportunities available in Sri Lanka to invest in financial institutions faced with financial instability.
He did not get a chance to make use of the advice he had received, as he got arrested along with the CEO, former chairman and incumbent chairman and two other officials of Alnavar Bank. They are accused of having swindled nearly Rs. 160 million and making an illegal foreign transfer of Rs. 13.8 million.
‘Times of India’ reports that Joy had been due to meet with Sri Lankan government’s international affairs adviser Surendra Gunaratne and a chief secretary. Using his VIP connections, he had posed for a photograph with president Maithripala Sirisena, when he toured Goa. The special investigating team has also exposed many other financial frauds he had planned to commit after opening a bank in Sri Lanka.
He and his father Ashok are wanted by the US Federal Police over frauds using credit cards of several persons. A separate investigation is on into the persons who had taken him to meet the president without a proper vetting.