Jan 24, Colombo: Sri Lanka Central Bank has commenced special investigations on 40 suspected illegal financial institutes in the country.

The investigations have begun following the failure of 7 illegal financial companies to register at the Monetary Board of the Central Bank during the last few months Central Bank confirmed. >p> According to the sources, Central Bank has received several complaints on these illegal financial institutes within the last two months.

As a result of the Sakvithi Ranasingha's widely publicized huge money fraud the Central Bank has taken a tough stance on the illegal financial companies to prevent them happening again.

Following the Sakvithi scam another huge money scandal was uncovered from Southern part of the country when a businessman named Piyadasa Ratnayake from the Hungama area in Tangalle swindled money from unsuspecting investors.