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Auditor General, police probe possible fraud at GGMC, mining company
The Auditor General and police are investigating possible wrongdoings with a transaction involving an overseas mining company and the Guyana Geology and Mines Commission (GGMC).
While government declined to name the company on Thursday, a statement from the Ministry of Natural Resources and the Environment said that GGMC has been directed to initiate an ongoing investigation into the processing of Prospecting Permit Medium Scale (PPMS) and Mining Permit (MP) to an overseas mining company.
On November 11, the mining company was incorporated in Guyana according to the Articles of Incorporation.
“The company engaged the GGMC to conduct business pertaining to Prospecting Permit Medium Scale and Mining Permit on behalf of the company and requested the GGMC Foreign Currency Account Number to facilitate the transfer of the necessary processing fees,” the Ministry’s statement said.
“Once the fees were collected, this allowed for the commencement of the processing of the applications at which time it was observed that a refund was necessary. The GGMC facilitated a refund via a cheque in the name of a local company representative, who presented a letter (which did not bear the official company stamp) for the amount to be refunded to the representative, rather than being transferred to the account from which the original sum was received.”
The unnamed mining company later wrote the GGMC indicating that their representative was no longer authorised to act on behalf of the company and enquired on the status of the refund noting that no money was remitted to the company.
“Upon investigation, GGMC learnt that the cheque has been encashed and is unable to make contact with the local company representative. The matter was then brought to the attention of the Ministry of Natural Resources and the Environment and the Board of Directors of the GGMC who after reviewing the internal audit report immediately sought the intervention of the Auditor General, Audit Office of Guyana who is now handling the investigation.”
The Ministry said that it has since learnt that the police have been called in also. “The Ministry of Natural Resources is awaiting the Auditor General and the Guyana Police Force findings and recommendations. Only today (yesterday), the Ministry of Natural Resources and the Environment met with Prospecting Licence holders on their rights and responsibilities and the need to strengthen the system.”
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