Who is PNG Construction and where is the K18 million?

PNG EXPOSED


Records from the bank account of the Komo Margarima District Treasury shows six payments totaling K18 million were made to ‘PNG Construction’ in December 2009.
K9 million was transferred directly to PNG Construction in the week ending 3 December in three separate transactions. A further K9 million was paid via three bank cheques in the week ending 17 December.

Local people have referred details of these payments to the Prime Minister alleging they were fraudulent transaction made by Acting District Administrator Tumbi Yari as part of an on-going theft of public money.
But who is PNG Construction?
Local people in Komo allege the company is connected to their local MP Francis Potape, who knew of or collaborated in the fraud.

But according to the Registrar of Companies in the Investment Promotion Authority there is NO registered company with the name PNG Construction.

There is a registered company with the name PNG Construction and Development – but the Company Extract shows this company was only registered on August 20, 2010 – eight months after the K18 million was paid out from the Komo Margarima District Treasury.

PNG Construction and Development has one shareholder, Stanley Liria and two directors, Stanley and a Gudmunder Fridriksson of Waterfall Crescent in Cairns.
If this isn’t the company that received the K18 million then how did PNG Construction manage to open a bank account without a valid Registration Certificate from the IPA?

There is something fishy here and maybe the bank needs to do some explaining about who opened the account, who is the authorized signatory, and what has happened to the K18 million?

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