PNGBLOGS

by JACK KUMAN Prime Minister Peter O’Neill is telling us that the economy and government finances are in good condition. But the official numbers from Treasury and the Bank of Papua New Guinea tell a different story. They tell us that Papua New Guinea is rushing towards an economic and financial disaster. The numbers do not lie, unlike the Prime Minister. Since he grabbed power in mid-2011, the economy and government finances have got worse and worse until today the Government is virtually bankrupt. Now the Prime Minister and his partners in crime have resorted to stealing from State-Owned Enterprises to try to prevent a complete financial crash. They have demanded hundreds of millions of kina, including from LNG landowners’ funds held in NPCP and reserve and operating cash from National Fisheries Authority and MVIL. This is in addition to the hundreds of millions of kina already drained from SOEs last year and earlier this year in fake “dividends”. O’Neill’s corru

by JOSEPH KAWAGE So a warrant for the arrest of Treasury Secretary Daire Vele has been issued and is to be enforced. Not before time. As Treasury Secretary he has been running a number of illegal operations for the Prime Minister, the two biggest ones being the illegal UBS loan and the illegal purchase of two mobile power generators. Police want to arrest him on charges of official corruption, misappropriation and fraud. The basis of the charges is documents provided to the police, the Attorney-General, the Ombudsman Commission and Task force Sweep by a whistleblower at PNG Power Ltd, and these documents show that a very serious and widespread fraud conspiracy took place at the highest levels of Government, business and State-Owned Enterprises. Most of these facts were detailed In Parliament in early 2014 by the then Opposition Leader, Belden Namah. Responses were supplied by the Prime Minister himself, and his office, in a number of statements. All of the PM’s official state

by BRYAN KRAMER Part 1 of this article was relation the Secretary of Treasury Dairi Vele being wanted by Members of Task Force Sweep and National Fraud & Anti-Corruption over allegations of Official Corruption, Misappropriation and Fraud. The article canvassed the allegations that facilitated a secret payment of K50 million to procure the purchase of two turbine generators in December 2013. This article will cover an in depth analysis on the issues and facts as presented in Part 1; charges defined by law and the key elements of the offence to establish guilt beyond reasonable doubt. Official Corruption is a criminal offence prescribed under the Section 87 of the Criminal Code. It relates to a person employed in the public service or holding any public office, who corruptly asks, receives, or procures (facilitates) any property or benefit for himself or any other person, is guilty of a crime. The penalty is imprisonment for a term not exceeding 7 years and a fine at the discretio

Diari Vele Secretary of Treasury is wanted by Members of Task Force Sweep and National Fraud & Anti-Corruption Directorate to effect his arrest and lay formal charges of official corruption, misappropriation and fraud. Sources at the District Court confirmed warrant of arrest was issued on Wednesday 22nd July 2015. It's alleged Vele has gone into hiding after being tipped about his planned arrest. The charges against him relate to allegations he facilitated a secret transaction of K50 million through Bank of PNG to an Israeli Company LR Group for the purchase of two power generators on 19th of December 2013. It's alleged Vele acted on the written directions of Prime Minister Peter O'Neill to secure K50 million from the 2013 Budget and transfer the funds to Bank of PNG to facilitate the transaction. In doing so breached the proper processes under the Public Finance (Management) Act rendering the payment unlawful. Thus amounting to Official Corruption,