Former FBC CEO Riyaz Sayed Khaiyum and FBC Chief Financial Officer Vimlesh Sagar appeared in the Suva Magistrates Court this morning, where they faced Magistrate Krishan Prasad. FICAC Counsel Marry Takinana requested that the second phase disclosures be served by the close of business today, to which the defense counsels did not object.
Sayed-Khaiyum is represented by Senior Counsel Devanesh Sharma and associate Gul Fatima, while Sagar is represented by lawyer Ritesh Singh.
Sayed-Khaiyum is charged with one count of Abuse of Office and one count of General Dishonesty Causing a Loss, whereas Sagar faces one count of General Dishonesty – Causing a Loss. Allegations against Sayed-Khaiyum include initiating five legal proceedings on behalf of FBCL without the board’s knowledge or approval, resulting in a loss of $138,813.37 between July 1, 2017, and January 31, 2023. He is accused of pursuing these cases despite knowing they were not in FBCL’s interests.
Sagar is accused of causing a loss to FBCL by endorsing payments to R Patel Lawyers without board approval, amounting to $15,075.88, between January 1, 2023, and December 31, 2023, also while being aware of the potential loss.
In another case, both individuals face similar charges related to the procurement of a Volkswagen Touareg. Sayed-Khaiyum allegedly abused his office authority and bypassed the tender process to procure the vehicle for $207,470.00, causing a total loss of FJ$84,470.00 to FBCL between September 1, 2022, and November 11, 2022. Sagar is accused of dishonestly approving payments for this purchase, contributing to the same losses.
The cases have been adjourned, with both defendants set to enter their pleas on October 31 of this year.