Latest update May 13th, 2024 12:59 AM
May 28, 2021 News
Kaieteur News – Chief Executive Officer (CEO) of the Guyana Water Inc. (GWI), Sheik Baksh, yesterday disclosed that the State-owned entity would be moving to recover some $29.8M that was recently discovered missing from its bank account. Baksh made that statement during a press conference at the company’s boardroom located on Vlissengen Road, Georgetown.
Last Friday, the company had announced that a fraud was perpetrated at a commercial bank, which led to millions being removed from its account. While addressing the financial irregularity, Baksh took the opportunity to first debunk that there is a $30M or $100M fraud at the company, as reported on in some sections of the media. He further noted, “What has happened is that fraud was committed in a commercial bank, using forged wire transfer documents and our account at that bank was debited.”
According to Baksh, the company has since written to the commercial bank to replenish their monies back to their account, and noted that the police were also called in. Baksh disclosed that while the company will be working on the civil side to recover the monies, the Guyana Police Force (GPF) is working on the criminal side.
Up to press time, this newspaper was awaiting an update from the police on the progress of that investigation.
Kaieteur News had reported that the fraud was discovered by the Finance Department upon reconciling accounts for March 2021. The amounts are $17,489,417 debited on March 16, 2021 and $12,327,515 debited on March 24, 2021. Upon querying, the bank informed GWI that the amounts represent payments made via wire transfer instructions, payable to persons resident in the USA. The names of the recipients are Troy Robertson, of 1405 Brooklyn Avenue, AF2F, New York 11210, and Deyannera Mohamed, of 1998 Pacific Street, Brooklyn, NY 11216.
According to reports, both signatures on the wire transfer instruction letters were forged. It was also reported, that GWI made it clear that it has never conducted business with the aforementioned persons, at no time initiated, or instructed the bank to carry out the fictitious transactions. Police fingerprint experts have since confirmed that the signatures were forgeries. The Bank of Guyana (BOG) has also been notified of this fraud.
Listen how to run an oil country
May 13, 2024
GCB T10 Blast Semi-finals… Kaieteur Sports – The semi-finals of the GCB T10 Blast will get underway today, barring inclement weather as the final four teams look to book spots in the...Kaieteur News – The PPP is engaging in myth-making in seeking to perpetuate the narrative that it is now an ideologically... more
By Sir Ronald Sanders Is it ever justifiable for journalism to fan the flames of geopolitical tension? This question arises... 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]