Young chap defrauds Rs.17.8 Mn


Wednesday, 30 July 2014 - 15:25

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A 17-year- old boy was produced in the Colombo Fort Magistrate’s Court today on charges of having defrauded a private bank of Rs.17.8 million using an ATM card.

The boy, who is a resident of Polonnaruwa, had in January opened an account at a private bank in Ja-Ela with Rs.163,000.

A technical fault in the bank’s operating system had inadvertently altered the balance lying to his credit

He is alleged to have purchased a motorbike from part of the cash he had misappropriated through various ATM machines on 658 different occasions. 

Magistrate Thilina Gamage released the boy, who had admitted to the crime, on a Rs.50,000 bail with two sureties of one million rupees each after the boy had undertaken to pay back the funds he had pocketed.

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