Former economic development minister Basil Rajapaksa had directly got involved in this, citing a requirement of the sports ministry.
CWE deputy general managers Anjana Nissanka of procurement and Asiri Fernando of finance had aided in this illegal act.
The letter of credit was issued and the payments made upon receipt of the equipment by the CWE.
However, the equipment had not been stored by CWE, nor a goods-received note made, but was sent directly for distribution.
Incumbent CWE chairman Kiran Atapattu is covering up the fraud although there is evidence that both deputy general managers are implicated.
That is because, he is getting them to commit irregularities for his gain, CWE employees told Sri Lanka Mirror.