Trio facing charges of false pretense
THREE men from the Middle Fly district of Western Province are facing charges of false pretence, after they applied for an overdraft from the Bank of PNG (BPNG), claiming they were in possession of one trillion kina worth of gold.
The three accused Gilbert Sogowa, 39, from Kala Village, Dickson Sibala, 52, from Wasua Village and Samuel Gabia, 63, from Dede village appeared for their arraignment last Friday at the Waigani Committal Court.
According to police reports, the trio had pretended to be directors of a company called JP Foundation Limited when they engaged Dona Amori to help them apply for the K1 million overdraft (an overdraft is when you withdraw more than what is available in your account, resulting in a negative balance) to be paid out to the company directors.
In support of their overdraft application, reports indicate that the trio had fabricated a report in which they claimed that their company (JP Foundation Limited) was in possession of a whopping 80 metric tons of gold valued at K1 trillion.
The unusually high value indicated in the trio’s report raised red flags with BPNG.
And after further investigations, it was revealed that the trio had no such gold in their possession, nor did they have any money held at BPNG with which they could make such an overdraft.
During their arraignment last Friday, presiding magistrate Cosmas Bidar said he was shocked by the figures, because the amount was worth more than all of PNG’s mining operations combined (*economic statistics show that PNG’s gold reserves produced an average of 1.96 tons between 2000 and 2018). The matter has been adjourned for a month after which it would be returnable for mention.
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