Former ICA boss named in the FinCorp property acquisition saga.
A FORMER head of PNG Immigration Citizenship Authority (named) is now in the center of police investigations on a property allegedly repossessed by Finance Corporation Limited (FinCorp) and sold to him.
FinCorp established in 1998 and licensed under the Central Bank (BPNG) is the largest consumer based finance company in Papua New Guinea.
Documents obtained by this paper confirmed the property located in the suburb of Gerehu in Port Moresby was sold at the value of K700,000 to the former Immigration and Citizenship Authority (ICA) boss, which the initial owner said was done illegally as processes were never followed.
It further states that allegations of malpractice and fraud were applied during the handling of the said mortgage property.
Four senior managers with FinCorp are named in the document. With one identified as Adam Hughes, confirmed as an Australian citizen was already arrested by police and now facing court proceedings. He is the chief asset manager.
His substantive court hearing has been set for the 26th of November, 2020.
The Sunday Bulletin is also reliably informed that the complainant (initial owner) has instructed their lawyers to file civil summons against FinCorp.
The Minister for Immigration and Boarder Security Westley Nukundj when contacted on Friday confirmed a complaint was lodged with his office.
Minister Nukundj said he will await the outcome of the police investigations currently underway, however, alludes that any foreigner coming into Papua New Guinea to work or as visitor must always respect the country and its people.
He also said as citizens we must love our country because when we love our country we will respect our own fellow citizens and respect whatever belongs to other fellow citizens.
“I will not hesitate to sign the deportation orders of this foreigners and this must go out as a warning to any foreigner that thinks otherwise and mistreats our citizens,” the Minister said.
The sale of the property appears to have occurred after an alleged deported foreigner, a Malaysian national (named) who was assisted to re-enter into the country.
Attempts by this paper to get comments from the former ICA boss proved futile.
The ICA also confirmed that the Malaysian national is the same person identified as a company director of FinCorp and is a company shareholder of Grand Columbia Limited. Grand Columbia Limited owns 100 percent of FinCorp.
The other two senior managers identified by the complainant are Australian nationals (named) who were allegedly involved in predatory pricing, mortgage practices and bully tactics to force the property off the initial owner.
Police investigations are continuing.
