Eight including two Chinese held over ‘Sports Chain’ racket

The Financial and Commercial Crimes Investigation Division of the Criminal Investigation Department has arrested eight people,   including two Chinese nationals, who were involved in a money laundering scam known as “Sports Chain” carried on the internet by a Chinese couple.

Investigations have revealed that this racket has been carried out by showing it as a unit of “crypto currency”, which is currently spreading in the world. The CID has also revealed that this is a large-scale financial fraud. This racket has been carried out in a very organized way through a software called SPORTS CHAIN ZS SOCIETY SRI LANKA since 2020.

According to the investigations,about 8,000 people have been caught in this racket since 2020 and financial fraud of more than Rs.1.5 billion has been reported.

It has been revealed by the investigations that the person who has been operating this racket in Sri Lanka is the son of a Chinese businessman who invested a lot of money in various projects in Sri Lanka. The businessman’s son and his Chinese girlfriend were arrested by the CID at Katunayake Bandaranaike Airport when they were trying to flee to Malaysia on October 12. Apart from that, the CID also obtained a foreign travel ban for seven Sri Lankan agents involved in this racket through the court.