Former CEO of Fiji Broadcasting Corporation, Riyaz Sayed-Khaiyum, along with the company’s current Chief Financial Officer, Vimlesh Sagar, have opted to have their cases heard in the lower court. They both appeared before acting Chief Magistrate Josaia Waqaivolavola in Suva, where they entered not guilty pleas to the charges against them.
Sayed-Khaiyum is facing charges of abuse of office and general dishonesty that allegedly resulted in a loss for the company. He is accused of bypassing the tender process set out in FBC’s finance manual to purchase a 3.0L Volkswagen Touareg for $207,240. This action purportedly led to a total loss of $84,470 for FBC.
Sagar is charged with general dishonesty, specifically for approving payments related to the same vehicle purchase without board authorization. The trial for these matters is scheduled to commence from September 2 to 12 next year.
In a separate case, Sayed-Khaiyum faces additional allegations of pursuing five legal proceedings without the consent of the FBC board, which incurred costs amounting to $138,813.37 and occurred between July 1, 2017, and January 31 of the previous year. Sagar is also accused of improperly approving payments to R Patel Lawyers totaling $15,075.88 without board approval, during the period of January 1 to December 31 of the last year. This case has been adjourned to April 11 next year for further proceedings.
This situation underscores the importance of corporate governance and accountability within businesses, emphasizing that adherence to established processes can prevent significant losses. As the legal process unfolds, it aims to ensure justice and reinforce ethical practices in the corporate sector in Fiji.
In summary, both Sayed-Khaiyum and Sagar will stand trial next year as they counter multiple charges related to financial misconduct, highlighting the ongoing necessity for transparency in corporate dealings. There is hope that this case will serve as a lesson for others about the critical nature of governance and integrity in business operations.
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