The disproportionate‑assets case filed by the Commission to Investigate Allegations of Bribery or Corruption against former Minister Mervyn Silva—amounting to more than Rs. 600 million—has uncovered extensive details about wealth allegedly accumulated through political power. The case is scheduled to be heard on August 20 before Colombo High Court Judge Mohamed Mihail.
According to submissions made in court, managers of several banks are expected to testify regarding multiple accounts held by Silva. The indictment states that he amassed extraordinary wealth within just two years—from March 31, 2010 to March 31, 2012—while serving as Minister of Labour and Public Relations.
Evidence shows that Silva maintained 10 fixed deposits at the Pan Asia Bank Kollupitiya branch, including one valued at Rs. 60 million and three others exceeding Rs. 366 million, Rs. 365 million, and Rs. 225 million. He also held five additional fixed deposits worth more than Rs. 33 million at the same bank. Numerous joint accounts were maintained with his wife, former MP J.A. Mary Lucida Silva, and his son Malaka Silva. A joint account with his wife at Pan Asia Bank held Rs. 2,140,199.36, while an account with his son at Sampath Bank contained Rs. 2,687,852.25 in 2010.
Further investigations revealed two accounts in Malaka Silva’s name at Vallib Finance valued at Rs. 15 million and Rs. 35 million. Deposits of Rs. 15 million each were also maintained in the names of Silva’s daughter Sandeepani Malika Silva and son‑in‑law M.C. Agulugamuwa. Silva himself held deposits of Rs. 14 million at the same institution. As of 2012, more than Rs. 4.7 million remained in current accounts across three banks, in addition to Rs. 32.5 million in Hatton National Bank and Rs. 6.8 million in DFCC Vardhana Bank.
The indictment also details several high‑value property purchases. Silva allegedly acquired land worth Rs. 71.3 million on Ernest de Silva Mawatha, Colombo 07; land valued at Rs. 39.2 million on Nawala Road, Rajagiriya; and property worth Rs. 13 million in Dalupitiya, Kadawatha. Another revelation is his long‑term occupation of state land in Nilagama, Kundasale—part of the Victoria Project—leased since 1994 for a nominal annual rent of Rs. 1,600.
Investigators found that Silva purchased seven vehicles during his two‑year ministerial tenure. These included a Porsche bought on April 10, 2010; a Range Rover Sport Petrol V8 worth Rs. 28.8 million purchased three months later for his son; and a Mercedes‑Benz worth Rs. 32.3 million acquired another three months after that. Additional purchases included a Land Rover valued at Rs. 2 million, a Hyundai Jeep worth Rs. 9 million, and two lorries costing Rs. 5.8 million.
Court documents also highlight unusually high personal spending. Silva used two credit cards from Sampath and Seylan banks to spend more than Rs. 4.2 million within two years. He also settled a loan of Rs. 34.7 million, the source of which remains unexplained.
The indictment further notes a payment of Rs. 240,000 to an individual named Ritu Akarsha. Although Silva did not maintain a life insurance policy for himself, he held six policies for his wife and children.