FHL Boss Appears in Court

The Managing Director of Fijian Holdings Limited, Sitiveni Weleilakeba appeared in the Suva Magistrates Court a few minutes ago facing charges of forgery and uttering false documents.

Magistrate Aminiasi Katonivualiku read out the charges highlighting that Weleilakeba is charged with 1 count of falsifying 6 paragraphs of resolutions reached by Fijian Holdings on October 23rd, 1992 with intent to defraud the Registrar of Companies and the shareholders of Fijian Holdings Limited.

It is alleged that Weleilakeba forged 6 resolutions by the Fijian Holdings that the FHL Board had resolved to allot certain shares to a public formed company and that it had approved allotments at its AGM. More details of that have not been given as yet.

The second count deals with Weleilakeba allegedly uttering forged documents at the Registrar of Companies Office allegedly knowing that it was false and not resolved at the FHL AGM.

Weleilakeba has pleaded not guilty to the charge and released on $1,000 bail and told not to interfere with witnesses.

Magistrate Katonivualiku also refused to make an order that no media statements should be released by the accused after a request by the FICAC lawyer.

Weleilakeba's lawyer, Caeser Lateef called on the magistrate to deny the request as his client, being the Managing Director of FHL is obliged to inform the Stock Exchange on the developments that have taken place today.

Lateef also revealed a deal that was being put together where Fijian Holdings is going to take partial control of RB Patel Group of Companies. He said the developments today could have an impact on this huge transaction and the stock exchange has to be informed of the developments.

The case has been adjourned to 28th April.