Rs. 68Mn worth loans taken from SMIB fraudulently: COPE Report

Around 47 individuals have obtained Rs. 68 million worth loans from the State Mortgage & Investment Bank (SMIB) in 2017 by way of forged documents – The Committee on Public Enterprise (COPE) has observed.

The COPE committee observed that in 2017, 47 people were involved in preparing fake documents and submitting false information and has obtained Rs. 68 million worth loans from the State Mortgage & Investment Bank.

The officials present said that cases have been filed against the persons identified as debtors and that the CID is still investigating the matter. Disciplinary inquiries against the staff involved in the case has been conducted and action has been taken, it was informed.

The officials also stated that two external parties related to the said matter have been arrested by the CID and one of them has passed away. It was also revealed that prompt action has been taken to obtain these loans, especially after the appointment of the new Chairman and the Board of Directors.

Accordingly, the COPE Chairman instructed the officials present to carry out the measures properly.

The aforesaid was taken into discussion during the Committee meeting held yesterday (23) on Public Enterprises (COPE) chaired by Hon. Prof. Charitha Herath to examine the Auditor General's reports and current performance of the State Mortgage and Investment Bank for the financial years 2017 and 2018. (Yohan Perera and Ajith Siriwardana)