Seychelles lost an estimated $5 million in the sale of the
ex-plantation Club hotel back in 2008 according to documents recently made
public.
The political pamphlet of Lalyans Seselwa, ‘Sun Extra’ first
published the transaction of the hotel sale receipt on 13th July.
The former Principal
Secretary for Finance, Ahmed Afif, later appeared in the Seselwa Annou Koze channel
on Youtube to give further details about the deal in the recent interview.
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Ex Governor/PS Finance Francis Chang Leng
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He maintained that
Seychelles has been cheated of $5.7 from the deal.
“There’s been no
justice in this case. Up till now those who were majority shareholders in the
hotel are still seeking clarification about the deal before the Court and they
are not yet satisfied,” he said.
Mr. Afif went on to
explain that a possible explanation for the missing sum would be because
confusion in the exchange rate. “That argument doesn’t hold water because at
that time the rate was fixed by the Central Bank of Seychelles (CBS) and the
rate was fixed at R8,” he said.
To date there has
been no official reaction from the government about this latest accusation of
misappropriation of funds.
It follows the claim
made by the same party last month that $50 million went missing from the CBS
coffers 12 years ago. According to the Leader of LS Patrick Pillay, a sum of $50
million was transferred from the United Arab Emirates (UAE) capital, Abu Dhabi
to a Seychelles’ Government’s account at CBS and later wired to an account in
the London Bank of Baroda branch.
The $50 million is said to have disappeared in 2002. That
makes a total of $55 million over a span of six years.
In an email reply to
LSH earlier this month, the new Minister of Finance, Jean-Paul Adam, said: “As
the current Minister for Finance I do not have on hand information of the
transaction which supposedly took place 12 years ago referred to in your email.
We are liaising with the Central Bank to clarify this issue.”
Accusations of corruption and mismanagement of public funds
are stacking up against the ruling Parti Lepep (PL) and up till now they have offered
little and very unconvincing answers to the Seychellois public.
A recent PL political pamphlet, People Plus issue suggested
that the $50 million was used by the former Seychelles Marketing Board (SMB) to
buy essential commodities for the country.
Mr. Afif rejected the claim saying neither the CBS nor the
parastatal in question has declared the money on their receipt book.
“One way to find the
truth is to verify the Federal Reserve records in New York.” Those best placed
to answer questions about the two deals are former President Albert Rene, his
then Minister of Finance James Michel and the CBS Governor, who had the dual
responsibility of Principal Secretary of Finance Francis Chang Leng.
PLANTATION CLUB HOTEL BACKGROUND
In August 2008 the Seychelles Supreme Court ruled in favour
of winding up Ailee Development Corporation Limited, the owning company of
Seychelles largest tourist resort at the time, the Plantation Club Hotel &
Casino. The Seychelles Government as a company minority shareholder, with its 8
percent shares convinced the Court to order the liquidation of the company
arguing that it was not making any profit; it was not paying its taxes and that
the establishment has poor hygiene.
Case No 27 of 2008 before Justice Perera has since created
legal history by paving the way for minority shareholders to call for
liquidation of companies.
Critics still
maintain that without the stat interference in the judiciary the plantation
saga would have not happened. Representatives of the 92 percent shares holding
are still seeking recourse before the Court over the matter.
Source:LSH
