November 09, Colombo (LNW):The Criminal Investigation Department (CID) has arrested Dhammika Kumara Ranasinghe, 52, and his wife Surangani Hemachandrara, 42, in connection with an illegal pyramid scheme that allegedly defrauded over Rs. 10 billion from depositors in the Kurunegala area. The couple, who were apprehended at Katunayake Airport upon Ranasinghe’s return from Kuala Lumpur, Malaysia, were remanded by Colombo Chief Magistrate Thilina Gamage until November 22.
Ranasinghe, the primary suspect, fled Sri Lanka while facing trial in the Colombo Chief Magistrate’s Court. His wife, who served as a director in their financial institution, was arrested while waiting at the arrivals terminal.
The pyramid scheme, operating under the name “JD’s Business School,” reportedly attracted over 2,500 investors, with CID investigations uncovering a network of more than 3,000 members. CID officials revealed that the suspects had multiple bank accounts and significant assets, including an apartment complex and two large land plots in Kurunegala. Authorities also found 11 accounts in Hemachandrara’s name across three major Sri Lankan banks.
The CID requested that the two suspects be remanded to allow for further investigation, noting that 68 additional individuals are implicated in the scheme. Following the court’s order, a team from the Commercial Crime Investigation Division has taken custody of the suspects. Further investigation will involve collaboration with the Colombo Narahenpita Illegal Assets Division to examine their extensive assets and financial dealings.
