CIABOC investigates Colombo 7 land transaction
The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has launched an investigation into the purchase of a plot of land in Colombo 7 and the subsequent construction of an apartment complex on the property.It has been reported that Cabinet approval was obtained under a previous government for the construction of the apartment complex on the land.According to the investigation, two individuals had obtained a bank loan of Rs. 154 million to purchase the property. CIABOC investigators have reportedly found that the two individuals did not have sufficient financial capacity to make such a purchase.
As the loan could not be repaid, the bank auctioned the property, which was subsequently purchased by a company established by an individual with political connections, investigation officials have said.The two individuals who are said to have initially purchased the land told investigators that they had merely signed the relevant documents.The land was subsequently sold to another company for Rs. 940 million, and an apartment complex was constructed on the property.
A senior CIABOC official said that the commission has also obtained a list of residents of the apartment complex.
