Daily Archive: Monday, May 24, 2021

Articles published on Monday, May 24, 2021

Guyoil-GDF fuel racket pegged at $1b – Jagdeo

A recent forensic audit of the state-owned Guyana Oil Company (Guyoil) has revealed that nearly $1b in fuel was siphoned off in a racket involving the company and the Guyana Defence Force where the fuel would be picked up and then transferred to third parties and charges are likely soon, Vice President Bharrat Jagdeo says.

‘Unsuspecting businessmen’

At a wide-ranging press conference on Friday, Vice-President Bharrat Jagdeo disclosed that the state had decided to settle several significant cases brought against well-known businessmen as they had apparently been unsuspectingly drawn into the transactions in question.