Two suspects have been arrested by the Financial Crimes Investigation Division (FCID) over a financial fraud amounting to more than Rs. 36 million.

Police said the suspects had allegedly defrauded Rs. 36,989,684 from a private institution by promising to supply Wi-Fi antennas but failing to deliver the equipment as agreed.

Following a complaint lodged with the FCID, the suspects were summoned yesterday (24) to record statements and were subsequently taken into custody.

The arrested individuals, aged 34 and 37, are residents of Mattakkuliya and Wattala.

They were produced before the Nugegoda Magistrate’s Court yesterday (24) and were ordered to be remanded until December 5.

The FCID is conducting further investigations into the incident.