Police raided the hideouts of two accused who were arrested on Thursday in connection with the fake tournament, which used local players and was reportedly conducted by the eight bookies.
The newspaper quoted Inspector Sukhbir Singh saying that the six other accused were absconding.
The police are also investigating to identify the players involved.
The tournament consisting of four teams - Wellawaya Vipers, Monaragala Hornets, Badulla Sea Eagles and Mahiyanganaya Unilions - was said to involve former cricketers like TM Dilshan, Farveez Maharoof, Ajantha Mendis, Thilan Tushara.
However, Maharoof clarified on Twitter than he had no part to play in it.
Sri Lanka Cricket too had not authorized the league, with CEO Ashley De Silva directing the Anti-corruption officer to look into the matter.
As things turned out, the games were conducted in Mohali with online streaming on websites largely through long shots.
The Uva Province Cricket Association too denied any involvement.