Former Chairman of the Securities and Exchange Commission of Sri Lanka (SEC) Dr. Nalaka Godahewa has been arrested by the Financial Crimes Investigation Division (FCID) a short while ago over alleged irregularities at the SEC.

He was taken into custody after he arrived at the FCID to give a statement.

Police said Dr. Godahewa was taken into custody by the FCID over an alleged financial fraud amounting to Rs.5 million committed in August 2013 when he was SEC chairman.

Meanwhile, two former high-ranking officials of the SEC, including a deputy director general were arrested on December 4 over alleged financial irregularities at the SEC in 2013. They were placed in remand custody till December 7 after being produced before the Fort Magistrate’s Court.

Godahewa assumed duties as SEC chairman in August 2012 and resigned from his position after President Maithripala Sirisena emerged victorious at January’s Presidential Election.