State bank employee remanded for obtaining loans through fraudulent means

A loan officer at a state bank who had  obtained over Rs 20 million in loans using a lost identity card of a bank customer was ordered to be remanded until January 30.

The suspect who was arrested by the CID is reported to have obtained the loans in 16 installments.

The Colombo Fort Magistrate had issued the remand order after taking into consideration allegations claiming that the suspect had obtained the loans by providing fake details and had kept transfering funds to other state banks. 

Details of the suspect's illegal transactions had surfaced when investigations were carried out to identify those who had not settled their loans on their due dates.

Investigations revealed that the suspect had not transferred the loans repaid by 120 customers to the National Savings Bank and had instead transfered funds amounting up to Rs 3.6 million to an account at the Bank of Ceylon. 

The Fort Magistrate who had issued the remand order after the police had made a request to do so in order to conduct investigations, had also informed the Police to submit a report of their investigations before court in due course.