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Fictitious pensioners collect $196 million
A total of $196 million in post-retirement benefits were siphoned off to 54 persons, investigations into the fraud at the Accountant General’s Department have revealed.
It appears that the money was paid over to the 54 persons under the pretext that they were pensioners.
No mastermind has yet been identified, Minister of Finance, Dr Ashni Singh said yesterday in announcing the details of the investigation thus far.
Lawrence Dundas, a supervisor within the department, has been charged along with two of those who collected the fraudulent cheques. Investigators are looking to question all of the 54 persons who benefitted from the scam.
When the fraud was uncovered in early March, the Ministry of Finance called in the audit office and the Guyana Police Fore to conduct an investigation, which is yet under way.
The money was handed over to the fictitious pensioners in 75 cheques. There were at least 14 repeat transactions, Dr Singh said.
Investigators have been able to identify all the persons who encashed cheques. Some of the cheques were encashed at the Central Bank and others at commercial banks.
According to the Finance Minister, the government has given the audit office and the Guyana Police Force all the support needed to pursue the fraud investigation to its end including in relation to the use of the fraudulently obtained funds to acquire personal assets.
“The administration will spare no effort in ensuring that the perpetrators and their accomplices face the full extent of the applicable laws and that the strongest available penalties are brought to bear against them, including forfeiture of assets,” Dr Singh stated.
He said that the administration has identified certain breaches in procedures that were committed in perpetrating the fraud and has moved to correct them, including but not limited to steps to revise procedures, ensure compliance and recruitment of staff.
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