GMC forensic audit finds fraud, other problems

A forensic audit of the New Guyana Marketing Corporation (GMC) for the period January 1, 2012 to May 31, 2015 by Saykar Boodhoo has found a plethora of transgressions including fraud.
Released by the Ministry of Finance yesterday, the report dated April 11, 2016 accused then General Manager Nizam Hassan of frustrating the work of the auditor.
Among its major findings were that GMC’s fertilizer account was mismanaged, there was fraud collusion in relation to the GMC’s office building and services were provided to Guysuco and the rice producers association even though prohibited by the act governing the GMC.
In terms of financial impropriety, the audit report said that there was fraudulent reporting of the fertilizer programme funds, questionable payments to fund trips for the then Minister of Agriculture and payment for chartering of aircraft by the Ministry of Agriculture without invoice, date or passenger details .
It described wasteful spending as purchasing alcoholic beverages and the acquisition of an overpowered standby generator.

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