Former Minister Mervyn Silva’s ongoing illicit assets case, filed by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), has revealed details of multimillion-rupee bank deposits, luxury vehicles, high-value properties and other assets allegedly accumulated during his time in office, according to the State owned national newspaper ‘Dinamina.’
According to reports, the case—relating to alleged illicit assets worth more than Rs. 600 million—is scheduled to be taken up before Colombo High Court Judge Mohamed Mihal on August 20. Managers of several banks are expected to testify regarding numerous accounts allegedly linked to Silva.
The case alleges that during his tenure as Minister of Labour and Public Relations between March 31, 2010 and March 31, 2012, Silva amassed substantial wealth that could not be explained through his legitimate sources of income.
Court proceedings have revealed that he allegedly maintained 10 fixed deposits at the Kollupitiya branch of Pan Asia Bank worth more than Rs. 182.3 million, including a single fixed deposit of Rs. 60 million. He is also alleged to have maintained five additional fixed deposit accounts at the same bank valued at over Rs. 3.3 million.
The prosecution further alleges that deposits of Rs. 15 million and Rs. 35 million were held in the name of his son, Malaka Silva, at Vallibel Finance, while deposits of Rs. 15 million each were maintained in the names of his daughter and son-in-law. Another deposit worth Rs. 14 million was allegedly held in Mervyn Silva’s own name. Additional deposits of Rs. 32.5 million at Hatton National Bank and Rs. 6.8 million at DFCC Vardhana Bank were also disclosed.
The indictment also states that Silva jointly maintained several bank accounts with his wife, former MP J.A. Mary Lucida Silva, and his son. By 2012, current accounts maintained across three banks allegedly held more than Rs. 4.7 million.
The prosecution further alleges that Silva purchased land valued at Rs. 71.3 million on Ernest de Silva Mawatha in Colombo 7, a property worth Rs. 39.2 million on Nawala Road, Rajagiriya, and another property in Dalupitiya, Kadawatha, valued at Rs. 13 million.
It was also revealed that he had allegedly leased a government-owned land in Nilagama, Kundasale, belonging to the Victoria Project, at a nominal annual rent of Rs. 1,600 since 1994.
According to the indictment, within the two-year period in question, Silva allegedly purchased a Porsche, a Range Rover Sport V8 worth Rs. 28.8 million for his son, a Mercedes-Benz valued at Rs. 32.3 million, a Land Rover, a Hyundai SUV worth Rs. 9 million and two lorries valued at Rs. 5.8 million.
The prosecution also alleges that more than Rs. 4.2 million was spent on goods and services using two credit cards during the same period, while an unexplained loan of Rs. 34.7 million had been settled.
The indictment further claims that Silva paid Rs. 240,000 to a person identified as Rithu Akarsha and maintained six insurance policies for family members with annual premiums totalling Rs. 1.3 million.
The case is being prosecuted by CIABOC Assistant Director Ama Wijesinghe. According to the prosecution, further evidence is expected to be led during the upcoming hearings regarding how Silva allegedly accumulated approximately Rs. 485 million within just two years.
