Police probe missing K268mil

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POLICE are investigating the K268 million missing from a landowner trust account, with one woman already facing 15 counts relating to fraud-related charges.
Police Commissioner David Manning said they were looking for three men to be questioned over the missing funds from the Western province people’s dividends trust account.
He said police believed that those who benefited included companies, company directors and individuals.
The dividends trust account also known as the Community Mine Continuation Agreement (CMCA) Trust Funds was initially under the custody of the State through the secretaries of four government departments.
“Investigations continue into the alleged misappropriation and theft of K268 million from the trust fund which is said to have been withdrawn and misused over two years after a change of signatories of the trust fund in 2018,” Manning said.
A special police forensic and criminal investigation team has already charged a woman after a complaint was lodged by North Fly MP James Donald.
Manning said the woman was arrested and brought to Port Moresby on Monday.
She was charged with 15 counts of obtaining money by false pretences, conspiracy and misappropriation.
Manning said the funds were supposed to benefit the 147,000-plus people from 158 villages in the Community Mine Continuation Agreement corridor in Western who had been complaining that they had not seen any development projects in the area.
“The use and management of CMCA Trust Funds are guided by the trust instrument underpinning the CMCA Trust Account and not to be used for any other purpose,” Manning said.
He said initial police investigation showed that payments had been made to a certain law firm, a company and others between August 2018 and early 2020.
The CMCA Trust Account was initially under the custody of the Government through a board of trustees.
But Manning said the State’s board of trustees was replaced by representatives of the Ok Tedi Fly River Development Foundation Ltd.

4 comments

  • so interesting,, who is actually fighting for the people of Western Province. North Fly MP James Donald or Pr. Steven Bagari and his team, please somebody show us the light, we seems to be in the dark and few are flying high from our money. Eso.

  • Western Province has one of the worlds biggest and well managed mines, Ok Tedi. Yet the government township of Kiunga is one of the least developed towns in PNG just because of few greedy people in authority. Its good to get them behind bars.

  • This time not only a male but a female has been arrested due to fraud related, misusing/stealing of K268millionwhich has gone done in the history of this country.This has set a bench mark for all women fox.
    Despite she has been given that opportunity to be appointed to such a position she has not been transparent and accountable to those she was accountable to.If found guilty she must be given the full maximum penalty so other women fox in this country can learn a lesson from her.

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