Money launderer Jeffrey Mohamed remanded until July 9

A primary suspect accused of illegally funnelling over USD 700 million abroad over three years under the guise of importing goods was remanded until July 9 by Magistrate Asanga S. Bodaragama today (25).

The suspect, identified as Jeffrey Mohamed, faces court proceedings, while the Magistrate ordered police to submit a summary of evidence under section 54(b) of the relevant act.

The Financial Investigation Division reported that the suspect had laundered over Rs. 2.1 billion since 2023 alone.

Investigators identified him as one of the largest and most significant black-money operators in the nation's history, noting the severe economic impact of draining such a vast sum from the country’s national wealth.

Authorities uncovered the sophisticated scheme during a raid on a private entity operating in the Colombo Fort area.

Police informed the court that the suspect orchestrated the operation while posing as the director of the firm.

The suspect was apprehended on the 19th while hiding in a housing complex in Negombo and remained under detention orders for questioning until today's hearing.

Investigators further stated that they recovered a significant quantity of dollar notes worth several crores of rupees in his possession at the time of the arrest.

Following the presentation of these facts, the court ordered the suspect remanded and postponed the case until July 9.