The first prosecution witness in the trial of former Native Land Trust Board director and Vanua Development Corporation Chairman, Keni Dakuidreketi today confirmed some of the processes followed by the board relating to Vanua Development.
Prosecution Queens Counsel, Micheal Blanchflower asked NLTB board member, Ratu Tuakitau Cokanauto to explain what is meant by extinct mataqali funds.
Cokanauto said that extinct mataqali funds are held by the NLTB because there is no living person from the mataqali to receive the lease rental income.
He said this money is held by the board as extinct mataqali funds.
Blanchflower asked him to recall the minutes of the meeting that discussed issues relating to Vanua Development Corporation Limited.
Cokanauto replied that Vanua Development Corporation Limited was to look at the investment opportunities to create an income stream for the flow‑on benefits to the native land owners.
Blanchflower then highlighted that Chairman of the Vanua Development Corporation Limited was Keni Dakuidreleti and the directors were former General Manager of Native Land Trust Board Kalivati Bakani, Nalin Patel, Daniel Whippy and Isoa Kaloumaira.
Dakuidreketi is facing five counts of abuse of office.
It is alleged that Dakuidreketi between 31st March 2004 and 21st September 2004, while being employed as a member of NLTB and Chairman of Vanua Development Corporation, in abuse of the authority of his office, did an arbitrary act for the purpose of gain, by facilitating a loan of $2 million to be made by Vanua Development Corporation to Pacific Connex, which was pre-judicial to the NLTB and indigenous Fijians.
The second count relates to Dakuidreketi allegedly facilitating a loan of $900,000 to be made by Vanua Development Corporation to Pacific Connex between the 16th and the 29th of November 2004.
The third count said that Dakuidreketi between about 28th February 2005 to 28th April 2005 allegedly facilitated a government grant of $1 million disbursed to Vanua Development Corporation through the NLTB to be used as security for a loan to Pacific Connex Limited by Dominion Finance.
For the fourth count it is alleged that Dakuidreketi again between 27th April 2005 to 3rd July 2007 while being employed as a member of NLTB and Chairman of Vanua Development Corporation facilitated a government grant of $1 million disbursed to Vanua Development Corporation through the NLTB to be used as security for overdraft and loan facilities provided to Pacific Connex, by ANZ Bank.
It is also alleged that Dakuidreketi between 23rd September 2005 and 29th September 2005 facilitated a loan of $1 million to be made by the Vanua Development Corporation to Pacific Connex, which was prejudicial to the NLTB and the indigenous Fijians.
Vanua Development Corporation was set up as an investment arm of NLTB which included the involvement of Dakuidreketi while Pacific Connex was an IT company set up by Ballu Khan.
Dakuidreketi was a board member of Pacific Connex Limited.
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