KPMG to investigate money laundering claims

 THE PNG Law Society has appointed the accounting firm KPMG as inspectors of the trust accounts of Young and Williams Lawyers.

The inspection is related to the money laundering allegations made against Young and Williams’ principals Greg Sheppard and Harvey Maladina.

Society president Peter Kuman said the society’s council made the appointment at a meeting on January 22. 

He said the delay in the appointment was because they had to get quotes from various accounting firms based on the terms of reference for the investigations.

He said the next step was for KPMG to carry out the inspection and provide its report within three months based on the terms of reference.

The Lawyers Statutory Committee is also continuing its investigations into the complaint lodged with it, and a decision is yet to be made. 

It is understood that Sheppard and Maladina had provided their responses to the committee on the allegations against them.

Kuman said the society had no control over the committee which was made up of individuals “appointed independently”.

The society only has powers to appoint an inspector, he said. 

He said he agreed with Goroka MP Bire Kimisopa, the chairman of the Special Parliamentary Committee on Public Sector Reform and Service Delivery, that the public should be updated on the progress of the investigation. But he said the processes took time.