Bogus bank funds new political group

Investigations are under way to trace a politician from Kelaniya who has been allegedly involved in a bogus banking scandal.

An organised group collected millions of rupees from the public under the cover of a so-called savings bank. The bogus bank has even issued pass books for depositors.

Though the Bank does not have a Central Bank licence to operate, the group under the patronage of the MP collected large sums as deposits. Several people have complained to the authorities in this connection.

Separate investigations are also under way to find out whether the money collected from the deposits, have gone to fund a new political group.