Former officer faces K1.2m fraud-related charge

Police have charged a man for allegedly misappropriating K1. 2 million belonging to the Defence Force commercial support programme trust account.
The former PNG Defence Force officer (named), from Manus, was arrested and charged with 106 counts of misappropriation and one count of money laundering in Port Moresby on Friday.
Director of the National Fraud Anti-Corruption Directorate Senior Superintent Matthew Damaru, in a statement, said the Defence Force commercial support programme trust account was established in 1998 by then minister for treasury and corporate affairs Lairo Lasaro under the Public Finance Management Act (1995).
He said the account was established for the purpose of generating revenue which should assist in relieving pressure on the recurrent budget for the PNGDF.
Police allege that the officer and another person, who were managers of the fund at that time, failed to follow the set trust deed resulting in the occurrence of misappropriation. He is expected to appear in court this week.