Three men have been charged by FICAC for their part in allegedly defrauding Tropik Wood Industries Limited by selling one of its subsidiaries at an undervalued price.
Alec Chang, Chief Executive Officer and his former Senior Accountant Daniel Prakash Mani who have been in FICAC custody since Sunday morning, were both charged with one count of False Pretence.
It is alleged that the two men had on 2nd April 2009 with intent to defraud caused the Board of Directors of Tropik Woods to deliver the ownership of Fiji Forest Industries Limited (FFI) to Chang, by false pretence namely providing incorrect and/or misleading information including financial figures pertaining to FFI which is a subsidiary of the Tropik Woods.
Chang is also charged with one count of Abuse of Office for allegedly causing the execution of a Sale and Purchase Agreement to sell Fiji Forests.
Daniel Prakash Mani and Ratu Meli Saukuru is the former Board Chairman, are each charged with one count of Aiding and Abetting Abuse of Office. Plea has been differed andn the three have been release on strict bail conditions.
The matter has been adjourned to 9th August 2010.
Story by: Shalvin Deo
