Probe into K28mil casino theft

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POLICE have launched investigations into an alleged K28 million embezzlement that stalled the construction of a 5-star casino hotel in Port Moresby, Crimes director Chief Insp Joel Simatab says.
“We commenced investigations after the casino hotel developer lodged a police report alleging that a few suspects had created another company account and diverted the shareholders’ funds from the original company’s account,” he said.
“The new account was created without the developer’s knowledge.
“It was due to such an illegal transaction in 2011 that led to no funds to complete the project.”
Chief Insp Simatab said the suspects were also under investigation for defraud, forgery and uttering, misappropriation, theft by false pretence (company shareholding) and unauthorised power-of-attorney involving a reputable law firm to defraud funds allocated to build the casino hotel.


  • Curruption everywhere in PNG. Corruption involving Millions of Kina in PNG is always from the top-down involving mostly MPs and Law Firms. The very people that we trust are the ones who are currupting this nation.

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