FICAC witness and former CEO of Fijian Holdings Limited, Sitiveni Weleilakeba has revealed in the Laisenia Qarase trial today that Qarase had shares in Mavana Investments, was a director of Q-Ten Investments and a financial adviser of Cicia Plantation Co-op Society Limited.
FICAC’s Senior Counsel, Michael Blanchflower asked Weleilakeba if he can confirm whether Qarase became a shareholder of Mavana Investments after the company was alloted 200,000 Class A FHL shares.
Weleilakeba confirmed that Qarase was not a shareholder of Mavana Investments at the time of the application of the shares but he became a shareholder on about 11th August, 1992.
This has now been included in the agreed facts in the case.
Blanchflower then presented copies of dividend cheques sent to Cicia Plantation Co-op Society Limited.
These cheques were sent to the Chairman of Cicia Plantation, C/O Laisenia Qarase, Fiji Development Bank. Weleilakeba explained that he sent the cheque to Qarase because he was the initial applicant of the FHL shares and he also went on to say that Qarase was a financial adviser of Cicia Plantation.
Upon questioning, Weleilakeba said he saw correspondence and spoke to people who confirmed that Qarase was the financial adviser of Cicia Plantation Co-op.
Blanchflower then presented the copy of a FHL interim dividend cheque of $20,000 on April 1st, 1993 to Q-Ten Investments Limited.
It was addressed to Laisenia Qarase at Fiji Development Bank. When asked why the correspondence was addressed to Qarase, Weleilakeba said that Qarase was a director of Q-Ten Investments.
Blanchflower raised a question based on Draunidalo saying to Weleilakeba yesterday that Qarase verbally declared his interest in relation to Cicia Plantation Co-op, Mavana Investments and Q-Ten Investments before the FHL board made the decision to allot the shares to the companies.
Weleilakeba said if the declaration was not made, it was not recorded in the minutes of the FHL board meetings.
Weleilakeba said Qarase did not declare his interest in any of the minutes that he prepared.
Weleilakeba then confirmed to Blanchflower that when his company, Stiks Investments Limited applied for 150,000 FHL Class A shares, Weleilakeba declared his interest in the board meeting and volunteered to remove himself from the meeting room.
Blanchflower has already told the court that Q-Ten Investments is a company owned by Qarase’s wife and children, Mavana Investments is a company owned by some of Qarase’s family members and villagers where Qarase is from, while Cicia Plantation Co-op Society Limited is a company where Qarase was appointed as an advisor.
Qarase is charged with 6 counts of abuse of office and three counts of discharge of duty with respect to property in which he has a private interest.
Story by: Vijay Narayan
