Forensic audit report reveals…GEA CEO unable to find proof of paying $156M to Authentix

Apr 07, 2016 News

Chief Executive Officer (CEO) of the Guyana Energy Agency (GEA), Dr. Mahender Sharma, is

GEA CEO Mahender Sharma

claiming that he is unable to find documents to prove he paid some $156M to an international company.
According to a team of forensic auditors, this claim has placed Sharma under the shadow of suspicion as many crucial questions remain unanswered.
The team from Nigel Hinds Financial Services in its report, noted that the cover page of a Cabinet document with reference number “CP(2003)8:2:k” has the caption, “Central Tender Board procedures being waived to carry out a fuel marking programme at a cost of US$734,000.”
The sum was in relation to payments which were supposed to be paid to Authentix. This is an internationally recognized company which provides fuel marking, excise tax recovery, brand protection, supply chain security, product authentication and banknote authentication solutions to governments.
The forensic auditors noted that Sharma made it clear that he was unable to obtain the enclosed pages for this Cabinet document. The auditors said that these enclosed pages would outline the detailed explanation of how the sum of US$734,000 was expended. This is equivalent to some $156M.
They reiterated that not having access to these documents leaves several questions unanswered.