Sri Lanka Police Freeze More Than Rs. 6 Bn in Assets Linked to Crime and Fraud
August 31, Colombo (LNW): Sri Lanka Police say they have identified, seized or frozen assets worth more than Rs. 6 billion as part of a broad crackdown on organised crime, narcotics trafficking and financial offences.
The action follows 113 investigations targeting individuals suspected of involvement in serious criminal activity. Police said the largest portion of the assets — approximately Rs. 5.423 billion — was associated with 102 prominent figures allegedly connected to drug trafficking and organised criminal networks. Assets valued at about Rs. 209 million were also taken from three individuals identified by investigators as key underworld figures.
A further Rs. 367 million in property and other assets was confiscated from eight suspects allegedly linked to offences ranging from pyramid schemes and large-scale financial fraud to child exploitation and the illegal possession or use of explosives.
The property recovered during the investigations includes 55 houses with an estimated combined value of Rs. 1.437 billion. Police have also identified 138 acres of land worth roughly Rs. 1.322 billion and 142 motor vehicles valued at around Rs. 1.171 billion.
Financial assets have also come under scrutiny. Authorities said they had recovered or placed restrictions on approximately Rs. 461 million in cash, while 27 bank accounts holding a combined Rs. 428 million were frozen.
The operation extended to maritime and commercial property, with 12 multi-day fishing vessels worth about Rs. 305 million among the assets seized. Police also recorded eight commercial buildings valued at Rs. 250 million, 21 shop units worth approximately Rs. 214 million, and gold and jewellery estimated at Rs. 168 million. Other miscellaneous assets were assessed at a further Rs. 239 million.
Alongside the financial investigations, police have intensified efforts to locate suspects who left Sri Lanka. According to authorities, 66 fugitives have so far been returned from overseas, including 38 people wanted over organised crime and other serious offences.
Another 28 suspects allegedly involved in organised criminal activity were brought back under INTERPOL Red Notices, police said.
Sri Lankan authorities have secured 110 INTERPOL Red Notices, with 55 concerning alleged organised crime leaders and major narcotics traffickers. Since 2023, 42 suspects have been extradited to Sri Lanka through the INTERPOL process.
Police currently have 236 active Red Notices involving suspects sought internationally. Among them are 96 alleged leaders of organised crime networks, while authorities are processing a further 93 notices as they pursue the return of additional fugitives.
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