May 25, 2022

Alloysius obtains loans from two banks for same property

The same property W.M. Mendis and Company belonging to Arjun Alloysius who was implicated in the Bond scam, had been pledged to two state banks and Rs. 7 billion had been obtained as loans, it was revealed at yesterday’s (24) COPE meeting.

This information was revealed during the COPE Committee meeting yesterday (24) to discuss the Auditor General's Reports for the Fiscal Year 2018 and 2019 and the current performance of the Bank of Ceylon.

During the meeting, the COPE Committee members had inquired about the property that W.M.Mendis and Company has mortgaged for the loans it has obtained by 2021.

It was then revealed that the same property belonging to Arjun Alloysius had been pledged to both the Bank of Ceylon and the People’s Bank and around Rs. 7 billion had been obtained in loans.

The COPE members have suggested that the CID should conduct an investigation into this irregularity.

COPE Chairman Charitha Herath said that he hopes to summon officials of both the relevant state banks and prepare a report on the matter and take necessary legal action.