Mervyn Silva’s massive wealth under court scrutiny

Court filings in the over Rs. 600 million illicit assets case filed by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) against former Minister Mervyn Silva have revealed details of bank accounts, fixed deposits, properties and vehicles allegedly belonging to him and his family members.

Over Rs. 182 mn. in Pan Asia Bank fixed deposits

According to the indictment, Silva maintained 10 fixed deposit accounts at Pan Asia Bank’s Kollupitiya branch with a combined value exceeding Rs. 182.3 million.

The deposits allegedly included fixed deposits of Rs. 60 million, Rs. 36.6 million, Rs. 36.5 million and Rs. 22.5 million.

Court documents further state that he maintained 05 additional fixed deposit accounts at the same branch, each with balances exceeding Rs. 3.3 million.

Joint accounts with family members

The indictment further states that Silva maintained several joint bank accounts with his wife, former MP J.A. Mary Lucida, and his son, Malaka Manojith Silva.

As of 2010, a joint account held with his wife at Pan Asia Bank reportedly had a balance of Rs. 2.14 million, while a joint account with his son at Sampath Bank held Rs. 2.68 million.

Fixed deposits at Vallibel Finance

Court records also state that 02 fixed deposits had been maintained under Malaka Silva maintained’s name at Vallibel Finance, with a value of Rs. 15 million and Rs. 35 million.

Further fixed deposits of Rs. 15 million each were reportedly held in the names of Silva’s daughter, Sandeepani Malika Silva, and his son-in-law, M.C. Agulugamuwa.

The documents further allege that Mervyn Silva himself maintained a Rs. 14 million fixed deposit at the same finance company.

Properties and luxury vehicles

According to the court filings, Silva allegedly purchased a property on Sir Ernest de Silva Mawatha, Colombo 07, valued at Rs. 71.3 million; a property on Nawala Road, Rajagiriya, valued at Rs. 39.2 million; and another property in Dalupitiya, Kadawatha, valued at Rs. 13 million.

Investigators further allege that between 2010 and 2012, he had acquired 07 vehicles, including a Porsche, Range Rover Sport V8, Mercedes-Benz, Land Rover, Hyundai SUV, and 02 lorries.

CIABOC alleges unexplained wealth

CIABOC alleges that between March 31, 2010 and March 31, 2012, while serving as Minister of Labour and Public Relations, Silva accumulated around Rs. 485 million worth of assets that could not be explained by his lawful income.

The Commission is expected to present further documentary evidence and witness testimony at the next hearing.

The case has been fixed for Aug. 20 before Colombo High Court Judge Mohamed Mihail, where officials of several banks are expected to testify regarding multiple accounts allegedly maintained by the former minister, according to reports.

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