A sum of 600 million rupees deposited in a State bank by the Education Employees’ Cooperative, Thrift & Credit Society Ltd has disappeared, alleges the Coalition against Corruption. As a result, around 150,000 members of the society are unable to obtain loans and other facilities.
The society which dates back to 1930 comprises nearly 150,000 teachers and other employees in the Education Sector who pay a compulsory monthly subscription fee of Rs 466. In addition, the Society earns money through interest paid on loans taken by members. The government does not make any contribution.
Addressing a press conference, Coalition member & Ceylon Teachers Union General Secretary, Joshep Stalin charged that the interim committee appointed in May 2009 has fraudulently spent money on purchasing land, opening district offices and other activities.
He alleged that 25 perches of land from Badulla was purchased at an exorbitant sum of Rs 1,150,000 to build a district office. It has been revealed that this land is not suitable for building purposes since it has been a paddy land. Up to now, it has not been possible to start erecting a building, he said.
Another fraudulent transaction revealed by him was the purchase a land for Rs 36,400,000 in Keppetipola Road, Kandy. The land has belonged to five persons and was subjected to a testamentary case. The society has paid for the entire land on a deed signed by three persons resulting in the loss of eleven perches. The society has lost Rs 8,700,000 on the deal.
Co-convenor of the Coalition against Corruption, Saman Ratnapriya pointed out that the money paid out on this deal has been obtained through members subscriptions and no tenders have been called.