The Criminal Investigation Department (CID) has arrested a 78-year-old senior professor, formerly the Managing Director of the Dubai branch of the Postgraduate Institute of Management (PIM), on allegations of defrauding nearly Rs. 60 million from the institution.
According to a senior CID officer, the arrest was made by a team from the Commercial Crime Investigation Division 1, following an investigation initiated after a complaint was received regarding the alleged financial fraud.
The suspect, a resident of Pannipitiya, is accused of misusing and misappropriating institutional funds during his tenure as Managing Director of PIM’s Dubai operations.
Investigations are ongoing.
