The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has launched an investigation into a suspected land transaction in Colombo 7 involving the construction of an apartment complex with Cabinet approval during the previous administration.
According to reports, two individuals had obtained a bank loan of Rs. 154 million to purchase the land. However, investigations by the Bribery Commission have reportedly revealed that they did not have the financial capacity to make such a purchase.
After they failed to repay the loan, the bank auctioned the land. Investigators say it was subsequently purchased by a politically connected individual who had established a company.
The two individuals who initially purchased the land had told investigators that they had only signed the relevant documents, according to reports.
The land was later sold to another company for Rs. 940 million, and an apartment complex was subsequently constructed on the site.
A senior official said the Bribery Commission has obtained a list of the people currently residing in the apartment complex.
