NATIONAL PROVIDENT FUND (NPF) WRONGDOERS FROM PAPUA NEW GUINES -- PNG People Tok Discussion Forum

[ Show ]

Support VoyForums

[ Shrink ]

VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 08:59:13 11/26/02 Tue
Author: No name
Subject: NATIONAL PROVIDENT FUND (NPF) WRONGDOERS FROM PAPUA NEW GUINES

NPF Inquiry Findings
Weekend Edition Fri-Sun 22nd-24th, November 2002

NPF Inquiry Findings

Jimmy Maladina

THE report found he received K2,505,000 from Kumagai Gumi for his part in the conspiracy to inflate the cost of the NPF Tower construction to K51.3 million.
It recommended criminal prosecution against him for conspiracy to defraud the NPF, conspiracy to cheat and defraud the State by corruptly obtaining a reduction in the Waigani land purchase and bribing ministers Seravo and Pok. The commission found that his conduct is, prima facie, criminal in nature. It said Jimmy Maladina was grossly negligent in his role as a Trustee. He is personally liable to the NPF for losses caused by his breach of trust.

Peter O�Neill

The commission found Peter O�Neill benefited from the NPF Tower Fraud money.
It recommends that the Prime Minster refer him to the Ombudsman Commission to consider whether Mr O�Neill�s concealment of his interests in Nama Coffee Pty Ltd and Port Moresby First Real Estate Pty Ltd and in Bluehaven No. 67 which purchased Resource Investment Finance Limited (RIFL) from ICPNG constitutes a breach of his duty under the Leadership Code and the need to submit full and honest Leadership returns.
In addition, his receipt of K100,000 in fraud money should also be investigated.

Chris Haiveta

The commission has recommended that he be referred to the Ombudsman Commission for investigation whether he has breached the Leadership Code when he and the NPF Board of Trustees approved the use of funds borrowed illegally from the ANZ Bank to purchase K39.7 million worth of shares in Steamships Trading Company and Collins and Leahy from POSF and DFRBF without expert advice from Finance Department. He is to be referred also in relation to failing to obtain from the Department of Finance expert advice before approving the K1 million trade in equities. On top of that his request from NPF for K1600.

Dr Fabian Pok

Whether he breached the Leadership Code by requesting NPF contribute to the Aitape Disaster Appeal.
Whether criminal charges should be laid in respect of issuing the title to Waim 92, conspiring to cheat and defraud the State over the variation of the Waigani land conditions and accepting bribes from Mr Maladina to vary conditions. The report states that he received a vehicle and K10,000 in cash from Mr Maladina to approve or alter lease conditions for sale of Waigani land to Trinco No. 6 Pty Ltd. He also received K220,000 paid to his company � Biga Holdings from Mr Maladina�s Niugini Aviation Consultants.

William (Bill) Skate

The commission says there is evidence a security contract awarded to Mt Tap Brothers was because of outside pressures, possibly involving Mr Skate. It recommended that it be referred to the Ombudsman Commission and Commissioner of Police for further investigation. The report also recommended he be referred to the Ombudsman in relation to the appointment of Jimmy Maladina as a Trustee and then chairman of the NPF Board, the termination of Robert Kaul and appointment of Henry Fabila as managing director of the NPF. Further, whether he breached the Leadership Code by requesting NPF to contribute to the PM�s Celebrity Walk and banquet.

[ Next Thread | Previous Thread | Next Message | Previous Message ]