Fraudster and mistress arrested for scamming Rs. 5bn through pyramid scheme
January 27, 2024 04:00 pm
A 39-year-old and his mistress have been arrested on suspicion of defrauding people of Rs. 5 billion through a pyramid scheme.
The arrest was made in Pilimathalawa area by the Illegal Assets and Property Investigation Unit.
The man had operated a pyramid-type financial institution called ‘TredWin Share’ in Galenbindunuwewa area.
He had been staying with his mistress in Pilimathalawa, Kandy. According to investigating officers, the couple had been living a luxurious life by buying real estate and vehicles using the ill-gotten money.
The mistress was arrested on charges of investing the money swindled from people.
