Savings Amounting to Over 1 billion Rupees Forged—Belonging to 11 Rural Banks.

According to a news article posted on HiruNews, more than 33,000 depositors from 11 rural banks affiliated with the Maharagama Multipurpose Cooperative Society have lost their savings due to the fraudulent actions of bank officials. The estimated total amount of falsified cash is approximately exceeding one billion rupees.

Out of the total deposits, 250 million rupees were paid as debt by the institutions. The remaining $800 million or so of a sum has been deposited with the institutions. And as indicated, officials have forged the deposits.

And 170 million of the 250 million paid as debt were already past due. In addition, officials had pawned the Multipurpose Cooperative Society’s head office building for an estimated 33.5 million rupees. Moreover, officials had pawned a land in the district of Madhuwela as well.

In addition to the depositors who lost their savings, the relevant authorities are being urged to look into what happened to the 70 million and 98 laks accepted as loans by the Bank officials, who deposited 70 million as long-term savings.