Man arrested over mortgaged vehicle racket

A 53-year old man was arrested yesterday (Mar 22) for purchasing mortgaged vehicles and selling the parts of these vehicles in Mirihana, Maharagama.

The suspect had made an initial payment to a leasing centre and purchased these vehicles which were returned by those who had failed to pay the lease. These vehicles were returned to the leasing centre on the premise that they would be handed back to the buyer after making the relevant leasing payment.

However, the suspect had paid a small amount to purchase the vehicles in order to sell its parts and accessories. Investigations had revealed that the suspect had sold around six vehicles at his workshop in Maharagama in a similar manner.

Police arrested the suspect who was also reported to have been operating a rent-a-car service, along with two motorcycles after complaints were filed by the people regarding the racket. 

The suspect is due to be produced before the Nugegoda Magistrates Court today.

(Reporting by Damith Wickramasekara)