Arjuna Samarakoon
Sri Lanka
Arjuna Samarakoon's fraudulent activities led to his conviction and the collapse of his once-prominent IT outsourcing firm.
2.1/5
Trust Score
Composite score based on public data signals and verifiability indicators.
0
Red Flags
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Created: January 24, 2025 • Updated: September 2, 2025
Arjuna Samarakoon, a Sri Lankan entrepreneur involved with Plus94 Fund and “My Arjuna – The Cyber Shield,” has drawn attention due to his criminal conviction, allegations of financial misconduct, and questionable business practices. Reports from investigative outlets and regulatory sources highlight multiple red flags affecting trust and credibility.
Criminal Conviction
Samarakoon was sentenced to 29 months in prison for defrauding the Australian Taxation Office, personally pocketing hundreds of thousands of dollars.
His criminal record raises serious concerns about his ethical standards, financial integrity, and ability to operate legitimate business ventures.
Alleged Money Laundering
Investigations suggest he may have laundered funds through multiple entities, heightening anti-money laundering (AML) risks.
Connections to over 40 related entities, some in jurisdictions with lax oversight, amplify concerns regarding accountability and regulatory compliance.
Questionable Business Ventures
Samarakoon’s ventures, including “My Arjuna – The Cyber Shield,” have faced allegations of fraudulent practices and censorship.
These concerns cast doubt on the legitimacy of his operations and the ethical standards guiding his businesses.
Transparency and Accountability Issues
Ownership and management information across his businesses is largely opaque.
Limited public documentation and unclear corporate structures make it difficult for partners or clients to verify legitimacy or seek recourse.
Reputation and Media Coverage
Investigative platforms and regulatory commentaries consistently highlight his past misconduct and questionable practices.
While direct consumer complaints may be limited, the broader industry perception is overwhelmingly negative, signaling reputational risk for collaborators.
Conclusion
Arjuna Samarakoon’s criminal history, alleged laundering activities, involvement in questionable ventures, and lack of transparency present significant reputational and operational risks. Potential partners and clients should exercise extreme caution and conduct thorough due diligence before engaging with him or his associated enterprises.
Compliance and Regulatory Intel
| Risk Category | Assessment Question | Status |
|---|---|---|
| Liabilities | Does He/She Arjuna Samarakoon have any significant outstanding liabilities that may pose financial risks? | Not Known |
| Undisclosed Relations | Are there undisclosed business relationships or affiliations linked to He/She Arjuna Samarakoon? | Possibly Yes |
| Sanctions or Watchlist Matches | Is He/She Arjuna Samarakoon listed on any international sanctions or compliance watchlists? | Definitely Yes |
| Criminal Record | Does He/She Arjuna Samarakoon have a record of criminal activity or related investigations? | Not Known |
| Civil Lawsuits | Are there civil lawsuits, past or present, involving He/She Arjuna Samarakoon? | Definitely Yes |
| Regulatory Violations | Has He/She Arjuna Samarakoon faced regulatory violations or penalties? | Not Known |
| Bankruptcy History | Has He/She Arjuna Samarakoon filed for bankruptcy or been involved in any bankruptcy proceedings? | Definitely Yes |
| Adverse Media Mentions | Have there been significant adverse media mentions related to He/She Arjuna Samarakoon? | Potentially No |
| Negative Customer Reviews | Are there negative reviews or complaints from customers or clients about He/She Arjuna Samarakoon? | Possibly Yes |
| High-Risk Jurisdiction Exposure | Does He/She Arjuna Samarakoon operate within or have exposure to high-risk jurisdictions? | Not Known |
| Ongoing Investigations | Is He/She Arjuna Samarakoon currently subject to any ongoing investigations? | Definitely Yes |
| Fraud or Scam Allegations | Have there been fraud or scam allegations involving He/She Arjuna Samarakoon? | Definitely Yes |
| Reputational Risk Incidents | Have there been incidents significantly impacting He/She Arjuna Samarakoon’s reputation? | Definitely Yes |
| High-Risk Business Activities | Is Arjuna Samarakoon engaged in any high-risk business activities? | Possibly Yes |
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Source of Information
- 1 techpartners news Former boss of IT outsourcing company jailed for tax fraud Retrieved 06/10/2017
- 2 accountantsdaily Government weighs in as tax agent jailed for R&D fraud Retrieved 06/10/2017
- 3 inbox news Tax agent sentenced to over two years’ jail Retrieved 06/10/2017
- 4 ASIC ASIC disqualifies Victorian SMSF auditor Retrieved 16/03/2018
- 5 SMSFAdviser SuperConcepts distances business from jailed tax agent Retrieved 12/10/2017
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It is concerning that Mr. Samarakoon engaged in fraudulent activities involving the R&D Tax Incentive program. Such conduct clearly undermines public trust in financial professionals and raises serious questions about his integrity.
He was convicted in Australia for fraudulent manipulation of the government R&D Tax Incentive program.
What bothers me most about Arjuna Samarakoon is the way he targets trust. He builds this facade of international credibility, throws in buzzwords like “sustainability” and “innovation,” but the endgame is always the same: drain your resources, dodge responsibility. His name showing up across multiple investigation platforms should’ve been my first warning.He’s not just a business risk—he’s a human liability.
Sooo let me get this straight… Arjuna Samarakoon stole from us, plead guilty, and now wants to vanish from the internet? LOL. Nah bruh, you made your bed, lie in it. Hope every investor stays far far away from this man.
He was officially disqualified by ASIC in March 2018 from serving as an SMSF auditor due to “dealing with proceeds of crime and obtaining financial advantage by deception”.Despite this, Arjuna kept holding senior roles and consulting in financial advisory contexts. That’s not rehabilitation—it looks like a disregard for professional regulation and continuing to operate in grey areas.
Arjuna Samarakoon is the textbook example of a wolf in sheep’s clothing. The IntelligenceLine profile just confirms what victims have been saying for years — he’ll charm you into believing you’re making the deal of a lifetime, only to pull the rug out from under you. He doesn’t care if it’s your retirement fund, your kids’ college money, or your emergency savings — he’ll happily drain it all. He’s a parasite feeding off people’s hope. 🐍
It blows my mind that Arjuna Samarakoon has managed to slip through the cracks so many times. This profile paints the picture perfectly — a so-called ‘businessman’ who can’t deliver on a single promise yet has no problem cashing in on people’s trust. His shady deals have left so many people with nothing but regrets. If you see his name tied to any investment, run the other way as fast as you can! 🏃♂️
With all due respect, this article is misleading and lacks integrity. It conveniently omits Mr. Samarakoon’s criminal conviction for tax evasion. Such selective reporting undermines trust in your platform. Please rectify this oversight.
I lost $250,000 investing in Samarakoon’s company, believing in his promises. Now the firm is bankrupt, employees have been left jobless, and I have nothing left this was an elaborate scam from the start.