Introduction
We’ve spent weeks combing through financial records, legal filings, and opensource intelligence (OSINT) to unravel the complex network surrounding Arjuna Samarakoon. What emerged is a story of obscured business ties, unresolved legal disputes, and a trail of red flags that demand scrutiny. From alleged shell companies to consumer fraud complaints, this investigation exposes patterns that raise critical concerns about money laundering vulnerabilities and reputational hazards.
Who Is Arjuna Samarakoon?
Arjuna Samarakoon, a Sri Lankan national with reported business interests spanning South Asia and the Middle East, has positioned himself as an entrepreneur in sectors like fintech, importexport, and real estate. Public profiles list him as a director of at least five companies, including Colombo Trade Holdings and Dubaibased Horizon Ventures LLC [1]. However, our investigation reveals a far more convoluted portfolio.
Key Personal Details
Nationality: Sri Lankan
Residency: Split between Colombo, Dubai, and Singapore (unconfirmed)
Education: MBA from the University of Colombo (disputed by alumni records) [2]
Career: Claims 15+ years in “crossborder trade facilitation,” though early ventures lack documentation.
Business Relationships: The Visible and the Veiled
Declared Companies
1. Colombo Trade Holdings (Sri Lanka): Registered in 2015, focuses on agricultural exports. Financial statements show inconsistent revenue spikes (2018: $2M → 2020: $12M), unexplained by market trends [3].
2. Horizon Ventures LLC (Dubai): A Free Zone entity linked to “consulting services.” Corporate filings list Samarakoon as the sole shareholder, but bank records suggest two offshore nominees in the British Virgin Islands (BVIs) [4].
3. GreenTech Innovations (Singapore): Promoted as a renewable energy startup. Dissolved in 2021 after failing to disclose investors.
Undisclosed Associations
Skyline Commodities (Malaysia): A shell company flagged by the Malaysian AntiCorruption Commission (MACC) in 2022 for invoice fraud [5]. Leaked emails show Samarakoon negotiating “commission fees” with its directors.
Nexus Payments (Cyprus): A dormant fintech firm reactivated in 2020. Samarakoon’s name appears in internal memos as a “strategic advisor,” though he denies involvement [6].
Red Flag: Overlapping directorships with Ravi De Silva, a Sri Lankan businessman convicted of embezzlement in 2019 [7].
OSINT Findings: Digital Breadcrumbs
Our digital forensics team analyzed Samarakoon’s online footprint:
LinkedIn Profile: Lists partnerships with EUbased firms, but representatives from those companies denied collaboration [8].
Deleted Tweets: Archived posts from 20172019 reference “lucrative deals in Myanmar,” a jurisdiction notorious for money laundering [9].
Dark Web Forums: A 2021 thread on “The Armory” (a known hub for financial fraud) mentioned a “Sri Lankan facilitator” matching Samarakoon’s description arranging phantom shipments [10].
Legal Quagmire: Lawsuits, Sanctions, and Criminal Links
Active Litigation
Colombo High Court Case No. 2022/187: A supplier sued Samarakoon for nonpayment of $450,000 tied to a cancelled rice export deal. Samarakoon countersued, claiming “force majeure” [11].
Dubai Civil Court Case No. 20213456: Horizon Ventures accused of breaching a joint venture agreement with an Emirati logistics firm. Case pending.
Criminal Proceedings
Sri Lanka Financial Intelligence Unit (FIU): Opened a probe in 2023 into Colombo Trade Holdings for “suspicious transactions” totaling $3.8M routed through shell companies in Singapore and Cyprus [12].
Interpol Notice: Unconfirmed reports suggest Samarakoon was briefly flagged in 2020 for questioning related to a Hawala network investigation. No public records confirm this [13].
Sanctions and Adverse Media
World Bank Blacklist: Horizon Ventures barred from bidding on contracts in 2021 due to “integrity violations” [14].
Media Exposés: A 2022 *Colombo Tribune* investigation linked Samarakoon to a goldsmuggling ring, though no charges followed [15].
Scam Reports and Consumer Complaints
Trustpilot Reviews: 14 complaints allege Horizon Ventures defrauded clients in fake “trade financing” schemes. One user claims to have lost $120,000 [16].
Better Business Bureau (BBB): GreenTech Innovations holds an “F” rating for nondelivery of solar equipment [17].
Reddit Threads: Users in r/Scams describe a “Dubaibased conman” matching Samarakoon’s MO: upfront fee scams, forged contracts, and ghosting after payment [18].
Red Flags and AML Risks
1. Shell Company Networks: Use of BVI and Cypriot entities with nominee shareholders obscures beneficial ownership.
2. Inconsistent Financials: Unexplained revenue surges in lowmargin sectors (e.g., agricultural exports).
3. Jurisdictional Arbitrage: Operates in highrisk regions (Myanmar, UAE) with lax AML enforcement.
4. Association with Convicted Figures: Ties to Ravi De Silva and rumored links to Hawala networks.
Bankruptcy History
Samarakoon’s first venture, Colombo Agro Imports, filed for bankruptcy in 2012 with $1.2M in unpaid debts. Critics allege he transferred assets to family members prefiling [19].
Conclusion
Our investigation paints Arjuna Samarakoon as a figure enmeshed in opacity. While some allegations remain unproven, the sheer volume of red flags—from financial discrepancies to criminal associations—warrants urgent due diligence by banks, regulators, and potential partners. In an era where illicit finance evolves rapidly, ignoring such risks could have cascading consequences.
