These gemstones were obtained by the bank while giving out a loan amounting to Rs. 05 million and an estimate given by the Gem and Jewellery Authority has certified that the stones were precious stones.

The gemstones were later forfeited to the bank after the loan was not repaid.

However, when the gemstones were about to be sold by the bank, it was revealed that these stones were merely pieces of quartz.

A probe is to be initiated on this regard, reports add.

The incident was revealed at a media briefing held in Colombo today (10) under the auspices of the new chairman of 'Lanka Putra' bank - Lasantha Gunewardena.