The Attorney General’s Department yesterday revealed a clandestine transaction involving the crisis-ridden Finance and Guarantee Ltd (F&G) and former national cricketer Aravinda de Silva and his sister Araliya which enabled them to acquire properties belonging to the company in lieu of their deposits.
The shocking disclosure was made by Deputy Solicitor General Yasantha Kodagoda when he appeared before the Colombo Fort Magistrate’s Court.
Kodagoda alleged that F&G properties which had been acquired by Aravinda and Araliya had been also undervalued. He said that ongoing investigations had shed light on the illegal transaction. The Court issued notice on de Silva and his sister.
F&G is part of the troubled Ceylinco Group now grappling with a deteriorating financial crisis.
The Court was also told that F&G properties had been illegally transferred amidst an attempt to workout a repayment plan.