Latest update April 25th, 2024 12:59 AM
May 22, 2018 News
The Guyana Oil Company Limited (GuyOil) has confirmed that an investigation is underway over the transfer of funds to a supplier.
Kaieteur News reported last week that a senior official was sent on administrative leave over $48M that was allegedly transferred.
Yesterday, the company said that no employee of the company was dismissed as a result of missing monies.
“The Company recently transferred funds to a supplier who claimed that they had not received the funds. As such, an investigation has been launched and is ongoing.”
The company did not confirm that an employee was sent on leave.
The discovery of the alleged fraud was made at the state-owned company earlier this month.
According to sources, the senior official allegedly oversaw the wire transfer of around US$230,000 to an account overseas.
Kaieteur News was told that the official claimed to have received a request to transfer the monies to an account of Castrol, a major supplier of GuyOil.
At the end of the day, GuyOil transferred the monies to an account that was not Castrol’s.
Investigators are trying to determine what role, if any, the senior official and others may have played and whether the actions were deliberate. It is unclear whether the monies were withdrawn.
GuyOil runs a string of service stations and is the largest seller of fuel to the local market.
Jagdeo giving Exxon 102 cent to collect 2 cent.
Apr 25, 2024
By Rawle Toney Kaieteur Sports – The French Diplomatic Office in Guyana, in collaboration with the Guyana Olympic Association and UNICEF, hosted an exhibition on Tuesday evening at the...Kaieteur News – Dr. Bharrat Jagdeo, the General Secretary of the People’s Progressive Party, persists in offering... more
By Sir Ronald Sanders Waterfalls Magazine – On April 10, the Permanent Council of the Organization of American States... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]