Blog Archives

Riddle of Vanished Shares in Macuata Tikina Holdings Ltd with President Katonivere owning 70% shares from original One Per Cent. FICAC was in process of obtaining witness statements when Malimali blocked PROBE

8/10/2024

$60,000 as Managing Director

We wonder if Barbara Malimali was parachuted in as new FICAC Commissioner to halt probe into Katonivere regarding vanished shares, aside from allegations regarding the missing $2million from Fiji Pine Industries Ltd.
We wonder if there was high-level conspiracy in the appointment of Malimali, and for her to stop further investigation, so Sitiveni Rabuka and his Coalition government could re-nominate Ratu Wiliame Katonivere as President for another three years?

*How could President Katonivere have signed-off Malimali's appointment (herself facing abuse of office allegations) as new FICAC Commissioner when he was, and still is, accused of share scam and other allegations that was being probed by FICAC?

"I, Ratu Tevita Roqica once had a share of 99% when the Macuata Tikina Holdings company was first established in 2003 while Ratu Wiliame Katonivere had a 1% share of the company. Now, I have learnt that the shares has been changed from me having 30% of the shares and also discovered that Ratu William now has 70% shares of the company. I had no idea and knowledge at all of any meetings done to formally discuss about these changes that took place. I would like to have a written explanation as to what, when and why these changes took place without any permission and knowledge. Vinaka."
[Ratu]Tevita Roqica, 2 March 2024.

Ratu Tevita Roqica

In May 2011 the paramount chief of the province of Macuata Ratu Aisea Katonivere asked to step aside from the position of chairman for the Macuata Provincial Council. He wanted to focus on his traditional role as Tui Macuata.
Ratu Tevita Roqica was elected chairman and Ratu Wiliame Katonivere as his deputy. Frank Bainimarama as prime minister, opened the Macuata Provincial Council meeting.

*The manager of Macuata Tikina Holdings Ltd, S. R. Cakau, in a letter to the Fiji Elections office, 'Particulars-Confirmation of Shares and Dividends for HE Ratu Wiliame Katonivere' noted the following:
(i) Yes, he (Katonivere) is a shareholder (Extract from Memorandum of Association attached below).
(ii) 70% - $70.00 - 70 shares (Refer to Register of Companies).
(iii) Transfer from Ratu Tevita to him (Ratu Wiliame Katonivere) 69% (no share sold).
(iv) Managing Director
(v) No dividend payout except Director's fees.

OUR PARTY MAN FOR PRESIDENT: In October 2021, the then Prime Minister Frank Bainimarama moved the name of his FFP president Ratu Wiliame Katonivere in Parliament to be the next President of Fiji, replacing FFP's Jioji Konrote. A month later Katonivere was sworn-in as Fiji's new Head of State. Today, Bainimarama is languishing in PRISON.

SHOCKING APPOINTMENT: Was Barbara Malimali imposed on FICAC as new Commissioner, and tasked with CRUSHING probe into Katonivere, so Coalition could re-nominate Katonivere for another three years?
*We call on Rabuka to withdraw Katonivere's nomination, remove Malimali, and allow FICAC investigators to complete the probe that they began in March 2024 into the vanished share scam.

ON THE RUN FINANCE MINISTER: We will bring more evidence and demand why he must be located, arrested, and charged by FICAC

Fijileaks: FICAC cleared Katonivere regarding matters relating to Fiji Pine Ltd. He has not been cleared regarding the mysterious share dealings

First citizen, Ratu Wiliame Katonivere has no case to answer, the Fiji Independent Commission Against Corruption (FICAC) has declared.

Prime Minister Sitiveni Rabuka announced this yesterday, stating FICAC has closed the files regarding the complaints against the President,

Mr Rabuka added Ratu Katonivere remains the Coalition Government’s nominee for the position of President.
The election is expected to take place in a special Parliament sitting at the end of this month.

“There had been some discomfort with certain nominees for the country’s presidency, which is why I withdrew my nominee for the election yesterday,” he said.

“The preliminary investigation sought assistance from the Financial Intelligence Unit regarding financial information on Ratu Wiliame, and the information provided was sufficient to disprove the allegations.

“FICAC also verified the Assets and Liabilities declared in the FIU report, and based on the outcome of the inquiry, there is no evidence to support the claims made by the complainant, the files have been officially closed.”

VILLAGATE: Australian Investors (mostly Indo-Fijians) whose $1.5million was pumped by Lotus (Fiji) directors Biman Prasad and Sunil Chand to build 28 'Westfield Villas' in 2015 still waiting for sub-leases from LOTUS

4/10/2024

In fact, exploiting legal loophole, and making repeated excuses, Biman Prasad and Sunil Chand have advised many of the investors that they can no longer obtain the Strata Title from the ITAUKEI LAND TRUST BOARD (TLTB) and, therefore, the contracts with the original investors are VOID. They must vacate.
BIG VILLA COST LIE: During the opening ceremony of 'Westfield Villas', one of the two directors Sunil Chand claimed that it cost him $4million to build the 28 villa units at Legalega, Nadi.
The total cost was $6,456,501. Sunil Chand only contributed $1,128,608.The Australian Indo-Fijian investors, $1,500,000. Pacific Hotels and Resorts Ltd, $2,709,924.. Lotus (Fiji) obtained ANZ Bank Loan of $1,126,989.
Total: $6,465,501
*The Co-Director BIMAN CHAND PRASAD didn't contribute a single cent.

"The construction of the building on commercial iTaukei Lease held by our client [Sunil Chand] did not have the consent for strata titles and/or sales..Our respective clients former Solicitors had applied for the consent to strata for the purpose of sale to your client and others.. Your client entered into occupation prior to consent being granted...Despite the above our client pursued the issue of consent to strata the head lease for the purpose of sale for approximately 7 years..Contrary to your clients' belief otherwise there was no consent to the sale/dealing of the Strata Lease to your client. Our client could not proceed with the strata titles as the TLTB required a surrender of the Commercial Lease and created other difficulties which was beyond the control of our client and of which your client was aware of.. As matters presently stand, your client's occupation is illegal. Our client is entitled to possession.". Letter to one of the original Investors.

What is the status of Biman Prasad's two off-the-plan units that he purchased from Sunil Chand on 12 March 2014? Three days later, on 15 March 2014, the two formed Lotus Construction (Fiji) Ltd. Prasad became a company director of Lotus but did not declare his directorship as required under the Political Parties Act of 2013.
We call on Biman Prasad to be SACKED or he must RESIGN and a full inquiry launched into his dealings with Lotus (Fiji) and his cousin Sunil Chand, the co-director of Lotus.

Biman Prasad is accused of personally entering some units with a security guard and removing personal possessions from the investors' units.
They have locked many of the investors out of their units and have released the units through New Door Real Estate Agents, taking in rental income for themselves. According to the tax returns of New Door at FRCA, cited by Fijileaks, Lotus (Fiji) is the landlord of the 'Westfield Villas'.
Is this a case of Unfair Enrichment, Misleading and Deceptive Conduct, and Breach of Fiduciary Duty to the Australian Indo-Fijian Investors?
Has Lotus (Fiji) pocketted $1.5million of the Australian Indo-Fijian investors capital?
None of the original investors have received compensation for or return on their investment. Those offered meagre 'money back' are refusing to accept it.
Some original unit holders are refusing to vacate, and have taken Lotus (Fiji) to court.
*Did Lotus (Fiji) - Biman Prasad and Sunil Chand - pay tax on the $1.5million to FRCA?

Hi All, Saturday 14 November 2015
"The construction of the Nadi villas is complete , An inauguration has been planned for 21st November 2015 at 1pm. You are all invited.
The head lease has been issued. The sub leases for each individual owners will be issued soon. All the sub lease will be for a term of 99 years commencing on 01/07/2015. Further details will be provided to each villa owners once the sub lease has been issued.
This development took a bit longer (being the pilot project of this nature in Fiji whereby native land has been strata titled for private residential purposes) than what we anticipated.
I take this opportunity to thank all of you for your patience support during the construction of this project.
Thank You
Sunil Chand

*Among those invited were the co-director Biman Prasad, his wife Rajni Kaushal Chand, nephew Krishil Kumar of HFC Bank, Vandhana Sharma from ANZ Bank, Daksesh Patel and roughly another 18 to 20 guests. From the media, Geraldine Panapasa of the Fiji Times was also on the guest list. The Chief guest was Parveen Bala and Solomoni Nata, Deputy General Manager Operations of ILTB or his representative. Panapasa covered the opening for the Fiji Times:

A LOCAL businessman is investing $4million in the construction of 32 self-contained villas in the Western Division.

Lotus Construction Fiji Ltd director Sunil Chand said the Westfield private villas projects was nearing completion and located close to the Nadi International Airport.

He said the project started in March last year and would take another 3-4 months to complete.

“The villas are targeted for former residents who wish to return to Fiji, those who want to own a holiday house and those who would want to retire in Fiji.

“The villas are in a prime location, built on native land in the Westfield.

“We will sell the villas for about $200,000 and offers are coming in slowly. Some people have already booked their villa and given their deposit,” Mr Chand said.

After spending two decades in the construction business in Australia, Mr Chand said he wanted to return to Fiji and invest in the accommodation and service sector.

He said the project had provided employment for about 50 people with more expected to be employed when construction was completed.

“This is the perfect time to invest in the economy. I’m confident in democracy. I believe in democracy especially now that we have a democratic Government,” he said.

Mr Chand said this was the first project for his construction company with plans for more projects in future.

While opening the property, Local Government and Infrastructure Minister Parveen Kumar commended the development.

“This project will augur well with Government’s intent to line Nadi up to become the third city of this country and of course, an increase in residency through projects such as these fuel that drive,” he said.

“This positive vision was an investment that not only boosted the accommodation sector but also the construction sector as it provided employment for more than 50 people.”

The Fiji Times continued:
But this isn’t the end of the road for Mr Chand. He plans to further his investment in the country of his birth.
“In Suva, we are going to build a four-storey 14-flat building near the University of the South Pacific Laucala campus, so that is a prime location.
“We are going higher in storeys to accommodate more flats and this will cost about $2m.”
*A decade later, we have exposed that when Sunil Chand was speaking about the four-storey 14 flat building near USP, he was refererring to Biman Prasad's building plan, for which Lotus (Fiji) paid the costs.

From Fijileaks Archive, 29 September 2024

LOTUS CONSTRUCTION (Fiji) Ltd: Biman Prasad's Journey With Lotus and the litany of lies in his statutory declarations under the POLITICAL Parties Act. In his first declaration in 2014 he began lies and falsehoods

3/10/2024

He didn't disclose that he was one of two directors (the other his cousin SUNIL CHAND) of Lotus Construction (Fiji) Ltd, and that he had been gifted 5% shares in the company on 15 March 2014. He was still Professor of Economics at the University of the South Pacific.
He prolifically lied in his statutory declarations for the next ten years until in the 2024 declaration, when he became Finance Minister.
In Fiji Independent Commission Against Corruption v Rabuka* (12 November 2018), the former Chief Justice Tony Gates stated as follows:
"Electoral offences are properly classified as criminal. Though Electoral Legislation has long been regarded as a special jurisdiction, the heavy penalties and disqualification provided in the legislation mean that the charge brought, indeed both limbs of section 24(5), is not an administrative or quasi-civil matter. Rather it can be regarded as “quasi-criminal” or indeed a straightforward “criminal” charge...Certain obligations of financial disclosure are placed upon office holders or registered officers of registered political parties...Any person who fails to comply with the requirements of subsections (1), (1A), (1B) or (2), or provides any information that is false, commits an offence and shall be liable upon conviction to a fine not exceeding $50,000 or to a term of imprisonment not exceeding 10 years or to both.”

The Chief Justice Gates had acquitted Rabuka, who was leading SODELPA into the 2018 election because, as Gates pointed out, 'the duplicity of the charges was fatal to the prosecution’s (Ficac's) case'.
Unlike Rabuka, Biman Prasad lied for ten years in his declarations.

*BIMAN PRASAD did not reveal that he was Company Director, Lotus (Fiji). He didn't disclose that he had been gifted 5% shares in Lotus.

On 25 January 2008, one SUNIL CHAND, director of Lotus Construction Pty Ltd (Australian registered private company) residing in Sydney, bought a piece of land in Legalega, Nadi, from the Legalega Development Limited (LDL). It obtained the land on 21 September 2007. The LDL was registered on 9 August 2000 with the place of business as Lot 2, Nokonoko Rd, Laucala Beach Estate, Nasinu, by Dynex Holdings Pte Ltd, the ultimate holding company. Dynex was registered on 11 February 2000 by Umendra Kumar, 13 Pathik Crescent, Namadi Heights, Suva, and Parveen Prakash, Lot 2, Nokonoko Rd, Nasinu. Kumar and Prakash were the two directors. Legalega Development transferred the land to Sunil Chand on 25 January 2008, who registered it with the Registrar of Titles on 11 November 2014 (issued on 27 January 2015), mortgaging it with ANZ Bank on 12 February 2015.

As we will see later, Sunil Chand entered into a lease agreement with the Itaukei Land Trust Board (ILTB).

Sunil is the first cousin of NFP leader and Fiji’s Finance Minister BIMAN PRASAD. We will refer to the two by their first names throughout this investigation. Both were born in Labasa, with Sunil moving to Australia, where he obtained a builder’s certificate after enrolling in TAFE NSW. Sunil initially entered the building construction business as a sole trader and, on 2 April 2002, registered Lotus Construction (Australia) Ltd, ABN 39 098 314 080. In one building tribunal case brought against him by his clients, he claimed he was a carpenter in Fiji before moving to Australia.

Although it is not apparent when Sunil and Biman got the idea to form Lotus Construction (Fiji) Ltd, whether over hot chilly lamb chop curry and rice, they registered the company on 15 March 2014 with the Registrar of Companies in Suva. APNR Partners, Business Consultants & Chartered Accountants, Suva, presented the Memorandum of Association (MOA) & Articles of Association (AOA) of Lotus Construction (Fiji) Ltd. Sunil and Biman’s nephew Krishil Kumar, an active employee of the HFC bank, witnessed the MOA and AOA signatures of his uncles Biman Chand Prasad and Sunil Chand. The two Directors of Lotus (Fiji) were Biman and Sunil.

The two company directors disclosed the following number of shares in Lotus (Fiji): Biman Chand Prasad (5) Five and Sunil Chand (95) Ninety-Five. There is no evidence of what consideration Biman provided for the 5% shares or whether it was a gift from Sunil. His statutory declarations from 2014-2024 are silent on the matter. If the shares were a gift, Biman must disclose them to the Supervisor of Elections under the Political Parties Act 2013.

On or about 28 January 2015 (crossed out and reads 28th day of January 2016), Sunil entered into a commercial lease agreement with the ILTB in consideration of $80,000 for the land Legalega (part of) on SO 5571 on Lot 1 in the tikina of Nadi, and in the province of Ba, with an area of 5521m2. The mataqai Vunaivi Tokatoka Nadrau are the landowning unit. The lease is from the first day of July 2015 for 99 years, with the lessee (Sunil) paying to the lessor (ILTB) ‘the yearly rent of Two Thousand Dollars ($2,000) half yearly in advance on the first days of January and July in every year subject to reassessment as hereinafter provided’.

On 5 February 2016, the Registrar of Titles affixed signature cites the iTaukei Lease No 32593 to Sunil Chand. However, the ILTB categorically stated that the land in question was to be used only for the erection of Residential accommodations and their subsequent use for Commercial purposes.

Chasing Investors in Australia.

As we pointed out in our 6 September posting, ‘Lotus (Fiji) sold Nirvana Villas to Investors’, Lotus (Fiji) drew up a ‘Development Proposal and Concept Plan for Lot 1, Westfield Sub-Division, NLTB 8/10/45 and began seeking for investors. It targeted former Indo-Fijians living in Australia, convincing them that the two-bedroom units were ideal as holiday homes. It was a relatively easy concept for investors looking for a lifestyle purchase to share their lives with friends and family back in Fiji. Later, Sunil informed the Fiji media: ‘The villas are targeted at former residents who wish to return to Fiji, those who want to own a holiday house, and those who want to retire in Fiji. The villas are in a prime location, built on native land in the Westfield. We will sell the villas for about $200,000, and offers are coming in slowly. Some people have already booked their villa and made their deposit.’

Biman bought two units of Off-The-Plan, but there is no proof that he paid for the two units (10 and 11) as a five per cent shareholder in the company. He did not declare in his statutory declarations that he owned two villa units.

Property investors or property speculators often purchase off-the-plan property intending to make substantial capital gains. Lotus (Fiji) told prospective Indo-Fijian investors that the Concept Plan's purpose was ‘to request TLTB to issue One Head Lease and 30 sub-leases to the owners of 30 Villas constructed on i-Taukei land’.

Suresh Chandra of MC Lawyers drew up the Off-The-Plan Sale and Purchase Agreement. He is the former Fiji Electoral Commission chair and disgraced lawyer who was not long ago disbarred from practising after being found guilty of defrauding his trust account clients of over $2 million in unrecorded money.

The Sale Agreement was between Sunil Chand (Vendor) and the Purchaser(s). The Lot was 42 square meters of land. It was to be delivered to the purchaser as a sub-lease of native land, being the subject, however, to such encumbrances, liens, and interest implied in leases under the Property Law Act of Fiji.

*Purchase price (exclusive of value tax) was $150,000.
*Deposit - 10% of the purchase price - $15,000.
* Balance of Purchase Price—40 % close up (slab, external walls, and roofs). $60,000.
*And 50% on completion (handover) - $75,000.
Total: $150,000.

The investors signed contracts with Sunil between February and April 2014. Most were Indo-Fijians living in Australia, with three residing in Fiji, including Biman Chand Prasad. As we pointed out, Biman bought the two units off-the-plan on 12 March 2014. Three days later, on 15 March, Biman and Sunil registered Lotus Construction (Fiji) Ltd. Biman was gifted a five per cent share of the company. Yet, in his statutory declarations, for 2014 and 2015, he vaguely stated that he owned $85,000 worth of shares, and in subsequent declarations claimed, ‘one-third share in 1 company and 50% share in another’. It fell on Fijileaks to unravel the identities of his shares in the companies, and also to reveal that he totally omitted to disclose that he was a 30% shareholder in Platinum Hotels & Resorts Ltd, a company that had contributed over $2 million towards the construction of the 'Westfield Villas' at Legalega, Nadi.

Sunil and an investor signed the first sale and purchase agreement on 17 November 2013, the rest on 24-26 February 2014, 3rd, 4th, 6th, 7th, 12th March, and two on 13-14 April 2014. A total of 18 investors signed up to purchase the Westfield Villas, with Lotus (Fiji) obtaining $1.5 million from them. Sunil collected the deposits and progress payments in Australia and Fiji.

Sunil’s tax returns and Lotus’s income tax returns for the financial years 2014 to 2017 do not show any income received from the sale of units to Australian investors. It is normally expected that a company or an individual (an entity) selling real estate would hold the deposits in the solicitor’s trust account and cannot access the funds until settlement is complete. A Nadi law firm were the solicitors for Sunil and Lotus. We are yet to collect evidence from the solicitors the basis on which the funds held were released to Sunil and Lotus before settlement. Also, the funds collected by Sunil directly from the Australian investors were deposited in the Solicitors Trust Account.

Furthermore, the income from sale of a property by a developer is recorded as income, either on an accrual or cash basis, and is considered assessable income for tax purposes for the developer in the relevant year. Accrual income is record when an invoice or a notice of payment request has been sent to the payee and cash income is recorded when cash physically received. Lotus (Fiji) should have reported income from the investors as cash or accrual. However, Fijileaks needs to establish the income that Lotus (Fiji) or Sunil recorded in their financials and tax returns from 2014 to 2017.

We wonder if Biman and Sunil had ever reported this money received to FRCA, currently led by the New Zealander ‘doodwallah-soodoowallah’ Udit Singh.

Hence began the construction of 28-unit two-bedroom villas at Legalega, with Sunil Chand on completion in 2015, claiming it cost him (omitting to mention Biman) $4 million.

Biman Prasad lied about the ownership of houses, omitting his wife

RESIGN, Sitiveni Rabuka's Finance Minister BIMAN PRASAD. He was not under investigation. FICAC was going to charge Prasad on 5 September. He and his wife didn't disclose they owned 4 Villa Units worth $600,000

2/10/2024

*For the attention of Prime Minister Sitiveni Rabuka, Deputy Prime Minister Manoa Kamikamica, Attorney-General Graham Leung, Justice Minister Siromi Turaga, and NFP's Pio Tikoduadua, and Fijians of all races living under the financial diktat of Fiji's Finance Minister, Deputy Prime Minister BIMAN CHAND PRASAD.

*We will reveal in detail how the couple's Burerua St property transaction with Lotus Construction (Fiji) Ltd, in which Biman Prasad is a 50% shareholder, potentially robbed FRCA of Capital Gains Tax of $125,000.

On 12 March 2014, Biman Prasad bought two villa units off-the-plan from his cousin Sunil Chand worth $300,000 ($150,000 each). Three days later, on 15 March 2014, the two formed Lotus Construction (Fiji) Ltd to build 28 units (Westfield Villas) in Nadi. Prasad never contributed a single (CENT or DOLLAR) but was made a 50% shareholder in Lotus (Fiji) Ltd.
In 2016, Prasad and his wife Rajni Kaushal Chand sold their Burerua St property to Lotus (Fiji) for merely $550,000. He never disclosed in his statutory declarations that his wife was joint owner of the Burerua St property.
The couple transferred the property on 19 January 2016 with a reported market value (on 9 July 2015, some 7 months before the transfer) of $2,815,000 (end value) for declared value of $550,000.
In return, Lotus (Fiji) paid Prasad's CGT and other debts, including his ANZ bank loan.
Further, Sunil Chand gave Prasad's wife 2 Units worth $300,000 in Westfield Villas. Also, Rajni Chand was granted a lease for the term of 99 years plus of Westfield Villas, effective from13 August 2018 (rent of $320 per annum).
We will reveal in detail how the couple's Burerua St property transaction potentially robbed FRCA of Capital Gains Tax of $125,000.
*Sitiveni Rabuka's Finance Minister and NFP leader Biman Prasad is also line manager of FRCA.

BIMAN PRASAD bought 2 units off-the-plan from Sunil Chand for $300,000 on 12 March 2014, a few months before he became NFP leader. He never declared the two units from 2014-2024. Neither did he declare his spousal's two units worth $300,000. He must be charged by FICAC and be referred to the Director of Criminal Investigations.

Just look closely. Prasad was still Professor of Economics at USP:
[email protected]

One AMITESH KARAN, Manager, Asset Finance at HFC, was WITNESS

As we revealed previously, the Burerua property was sold for $550,000 in exchange for Lotus (Fiji) to clear the couple's bank loan, pay their Capital Gains Tax, and for Rajni Chand to get 2 units in Westfield Villas, Legalega, Nadi.
Worst, Biman Prasad never declared that Rajni Chand owned two villas worth $300,000 or that she jointly owned the Burerua St property.
*We have increasingly come to the conclusion that Rajni Kaushal Chand is not an innocent 'house wife' who was NOT aware that for ten years her husband lied in his declarations (2014-2024) regarding her ownership of their properties, shares etc

DIVORCED or NOT DIVORCED. We treated to Conflicting STATEMENTS. FICAC says case closed against Tabuya for not disclosing any spousal information because she's divorced. In 2023 she lists Semaan as Spouse

1/10/2024

*So why is Lynda Tabuya refereeing to Robert Semaan in her statutory declaration of 14 February 2023 as SPOUSE?

CONFLICT OF INTEREST: Barbara Malimali should disclose conflict of interest issue in relation to Lynda Tabuya. It is well known that they are very close friends for a long time. Why single out only Tabuya's name?

From Fijileaks Archive, 27 March 2024

Forward>>