The Mervyn Silva assets case details alleged unexplained deposits, valuable lands, luxury vehicles and family accounts worth millions.
The Mervyn Silva assets case is set to expose extensive details of bank deposits, valuable land and luxury vehicles allegedly linked to the former minister and his closest family members.
The Commission to Investigate Allegations of Bribery or Corruption filed the case over assets allegedly accumulated illegally while Silva served as Minister of Labour and Social Relations. The assets under scrutiny reportedly exceed Rs. 600 million.
Colombo High Court Judge Mohamed Mihail is scheduled to hear the case on August 20.
According to information investigation officers placed before the court, senior officials from several leading banks are expected to testify. The trial is also expected to examine bank accounts, fixed deposits, properties and vehicles connected to the accused and members of his family.
Assistant Director of the Commission to Investigate Allegations of Bribery or Corruption Ama Wijesinghe is leading the case.
The indictment alleges that Silva accumulated approximately Rs. 485 million between March 31, 2010, and March 31, 2012. Prosecutors claim he could not explain the alleged fortune through his legitimate income.
Court documents also detail numerous assets allegedly acquired by Silva and members of his family during that two-year ministerial period.
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Mervyn Silva assets case details Pan Asia deposits
According to court records, 10 fixed deposits held solely in Silva’s name at the Colombo branch of Pan Asia Bank exceeded Rs. 182.3 million, or Rs. 18.23 crore.
One fixed deposit alone reportedly carried a value of Rs. 60 million. Other large deposits amounted to Rs. 36.6 million, Rs. 36.5 million and Rs. 22.5 million.
The records also refer to five additional fixed deposit accounts at the same branch. Each reportedly contained more than Rs. 330,000.
Investigators also identified joint and individual deposits maintained with family members at several financial institutions.
A joint Pan Asia Bank account held by Silva and his wife, former Parliamentarian J.A. Mary Lucida Silva, contained Rs. 2,140,199.36 in 2010.
Meanwhile, an account held with his son, Malaka Manojith Silva, at Sampath Bank reportedly contained Rs. 2,687,852.25.
Investigators further identified deposits of Rs. 15 million and Rs. 35 million in Malaka Silva’s name at Welibal Finance.
Deposits of Rs. 15 million each reportedly appeared under the names of Silva’s daughter, Sandeepani Malika Silva, and his son-in-law, M.C. Agulugamuwa. Another deposit of Rs. 14 million was maintained in Mervyn Silva’s name.
By 2012, current accounts held at three banks reportedly contained more than Rs. 470,000. The documents also identify a Rs. 32.5 million deposit at Hatton National Bank and another Rs. 6.8 million deposit at DFCC Development Bank.
Valuable properties and seven vehicle purchases
The Mervyn Silva assets case also examines several property purchases in high-value areas in and around Colombo.
According to investigators, Silva purchased land at Ernest de Silva Mawatha in Colombo 07 for Rs. 71.3 million.
He also allegedly bought land on Nawala Road in Rajagiriya for Rs. 39.2 million and another property in Dalupitiya, Kadawatha, for Rs. 13 million.
Court documents further state that government-owned land in Nilagama, Kundasale, linked to the Victoria Project had been leased to Silva since 1994. The reported annual rent was only Rs. 1,600.
Investigators also highlighted the purchase of seven vehicles during his two-year period as minister.
Silva reportedly purchased a Porsche on April 10, 2010. Three months later, in July, a Range Rover Sport Petrol V8 valued at Rs. 28.8 million was allegedly bought for Malaka Silva.
A Mercedes-Benz valued at Rs. 32.3 million followed in October 2010.
The other purchases reportedly included a Land Rover worth Rs. 2 million, a Hyundai Jeep worth Rs. 9 million and two lorries valued at Rs. 580,000 each.
Credit-card spending, loan settlement and insurance
Court documents also describe what investigators considered an exceptionally high daily spending pattern.
Silva allegedly obtained goods and services worth more than Rs. 4.2 million through two credit cards issued by Sampath Bank and Seylan Bank during the two-year period.
The records further state that a Rs. 34.7 million loan was settled, although they did not disclose the source of the money used for that payment.
A payment of Rs. 240,000 was also reportedly made to an individual identified as Rithu Aksharsha.
Although Silva reportedly held no life insurance policy for himself, investigators identified six insurance policies maintained for his wife and children.
The annual premiums for those policies amounted to approximately Rs. 1.3 million. Four of the six policies were reportedly maintained for Malaka Silva.
The August 20 hearing is therefore expected to place detailed financial records, property transactions and family-linked accounts at the centre of the Mervyn Silva assets case.
