Staffers being investigated for multi-million $$ fraud at GUYOIL

Sep 27, 2010 News

A multi-million dollar fraud has reportedly been uncovered at the Guyana Oil Company (GUYOIL) Providence, East Bank Demerara, Terminal and some staffers are concerned that those responsible are not being scrutinised by the relevant authorities. In fact, according to reports reaching this newspaper, the “mastermind” behind the fraud has disappeared, leaving unsuspecting staffers to “face the music.”
Reports suggest that the fraud which is characterised by pilfering acts believed to have been committed over a month-long period within the company’s Lubricants Storage Bond has amounted to several millions of dollars. The matter is currently engaging the attention of the police but staffers are concerned that the culprit(s) behind the act will not be chastised. It is believed that a staffer who has since been terminated for absenteeism was the “mastermind” and was instrumental in removing millions of dollars worth of lubricants from the bond.
However, reports reaching this newspaper indicate that it was considered an unusual move that the staffer was dismissed without a warning or suspension merely for being absent one time without producing a medical. “It is the norm that staffers are given a warning and if the act is repeated then they are suspended…But to just terminate somebody, it was really strange to everybody…” a source close to the Terminal revealed.
It was a matter of days after the employee’s reported termination that a discovery was made that several millions of dollars worth of lubricants were unaccounted for, prompting the Manager of the Terminal to make a report to the GUYOIL’s head office. Reports are that the police were called in and an investigation ensued. This newspaper was informed further that fingers are currently being pointed at a Supervisor who, according to reports, was on leave during the anticipated time that the pilfering act occurred. It was revealed that while it was the norm for auditors to frequent the Storage Bond, during the supervisor’s leave no auditor had visited thus allowing free, unrecorded access to other staffers. Reports are there were five employees within the department that had direct access to items within the bond, but there was only one who was authorised to remove items. That staffer was the one and the same to be terminated for absenteeism.
“This thing is really a concern to us because nobody is listening and the way that things are going is that the wrong people will be chastised for this wrongdoing…All the staff, whether you were there or not, have to be interrogated by the police but the one person who knows everything, because he kept the books and was responsible for issuing lubes, they just ain’t finding…” the source informed.
Efforts to garner a comment from GUUOIL’s Managing Director, Badri Persaud, on this issue, have so far proven to be futile.
Meanwhile, staffers have also raised other issues that are of much concern to them. They informed this newspaper that although there have been reports that the company has been performing well, management has reduced meal allowances and has even held back on providing staffers with new uniforms for more than a year. This newspaper was reliable informed that improved performance at GUYOIL is however evident by the $15M Sports Utility Vehicle which was procured recently by a top official.

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Staffers being investigated for multi-million $$ fraud at GUYOIL

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