Police Freeze Assets Worth Rs. 70 Mn Linked to Drug Trafficking

COLOMBO (News 1st); Authorities have suspended the use of assets worth approximately Rs. 70 million belonging to a suspect arrested under the Prevention of Money Laundering Act as part of an ongoing investigation into alleged proceeds of narcotics trafficking.

Police said the frozen assets include a two-storey house located in the Madagal area of Jaffna and approximately Rs. 15 million currently under the custody of the Jaffna Magistrate's Court.

The suspension order, which took effect today, will remain in force for a period of 14 days.

The development follows an operation carried out on August 31 by officers attached to the Police Special Task Force in Jaffna, during which five suspects were arrested in connection with the possession of Rs. 15 million in cash.

Investigators identified the owner of the property as the sixth suspect in the case and alleged that the residence had been constructed using funds generated through an illegal narcotics trafficking operation.