The manageress of the Peoples Bank branch in Piliyandala has been arrested for defrauding over Rs. 114 million, the CID said yesterday.
CID sources said that the lady is the wife of the coordinating secretary of a government Minister and she was arrested following investigations on Friday.
According to the CID the manageress had pilfered the money from accounts at the bank and transferred it to another bank.
Investigations are now underway to see what the money was used for or was going to be used for following suspicion it was to be for a hotel project.
Further investigations are underway.
(Report by Indika Sri Aravinda)