1)When Abans Finance was formed no cash was put in. -Hire Purchase portfolio was transferred as share capital.(Source-Central Bank of Sri Lanka).
2)When listing was made shares were fraudulently transferred to employees namely MRS. H G S CHANDRAKANTHI, MRS. M V I F FERNANDO, MR. A H A JAYASINGHE, MR. D S KARUNAKARAN, MR. K KUNENTHIRAN, MR. N N PERERA, MR. P K PESTONJEE, MISS. C V SUMANADASA, Mr S C H GAMAGE and MISS. I N JALALDEEN to cheat the CSE/SEC on “Public float rule”.(Source-Annual Report –AFSL. 2011/2012.)
3)These employees have no means to buy the shares and FCID should investigate under money laundering act(Source-Employees of Abans PLC)
4)CDS accounts were opened for MRS. M V I F FERNANDO, MR. A H A JAYASINGHE, MR. D S KARUNAKARAN, MR. N N PERERA and Mr S C H GAMAGE and MISS. I N JALALDEEN with Acquity stock brokers and JB stock brokers and shares sold fraudulently without payment of money.(Source- Acquity stock brokers and JB stock brokers.)
4)When private placement was made shares were issued to Ironwood , company owned by independent director and audit committee chairman Hiran Embuldeniya at a discounted price of Rs 25.00 when the share was trading closer to 41.20 (highest 69.90) ,cheating the minority share holders(Source-stock exchange records)
5)Hiran Embuldeniya made application to buy shares even before the Company was incorporated on 13th August 2015 with 2 ordinary shares of Rs 10.00 each . One share is owned by Hiran Embuldeniya and one share owned by Mr.Chanaka wickramasuriya(Source-Central Bank of Sri Lanka)
6)Seylan bank offered 2 times the asset value to buy the shares but private placement was at 1.33 times asset price to Ironwood.(Source-Seylan Bank)
7)A company named Able Investment was set up in 2016 to buy and transfer shares of employees 617,130 shares (1.11%)and the price at which such company bought is around Rs 45.00. The mandatory offer price as Abans and Ironwood have acted in concert (Source-Registrar of companies)

9)Poor CSE and SEC were cheated and taken for a ride(Source-Investors and General public.)
10)Mr Hiran Embuldeniya common Director of Abans and Ironwood continue to serve as Audit Committee Chairman and Independent Director(Source-Varners International-company secretaries)