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BLOWTORCH ON SHARES: *Incidentally, in 2014, after politicians declared their assets, liabilities, and income under the Political Parties Act, we were focused on the share scam involving the Minister for Everything, Aiyaz Khaiyum, and his Midlife Investments Ltd company.
*Biman Prasad had escaped our torchlight, so it seems, in 2014.
Two decades later, in 2024, we re-examine his declarations.
 Sunil Chand (2016), owner Lotus Construction (Australia) and Lotus Construction (Fiji) | "Mr [Sunil] Chand gave evidence that he originally qualified as a carpenter and joiner in Fiji and, following his arrival in Australia, attended Bankstown TAFE and undertook further studies so that he could obtain a Builders Licence. |
*Lotus was ordered to pay a penalty of $7,000.00 to the Commissioner of the OFT ('the Lotus decision') and Mr Chand, as the director and nominated supervisor for Lotus was ordered to pay a penalty of $3,500.00 ('the Chand decision').
*2015: When SUNIL CHAND, the Australian based owner of Lotus Construction (Australia) and Lotus Construction (Fiji), unveiled his $4m villa development project near Nadi in January 2015, we were not told that the NFP leader BIMAN PRASAD had 5% share in the Lotus Construction (Fiji) Ltd.
*We still do not know, economically speaking, what the former USP Professor of Economics and NFP leader contributed to get 5% share.
*In 2024, his share in Lotus (Fiji) rose to 50% - again, on what basis?
*Like the Lotus, an essential flower in Hindu religious ceremonies, his obligatory annual declarations to the FEO, is 'wilting' under scrutiny.
*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 (2014) and would take another 3-4 months to complete. The Fiji Times, 22 January 2015.
“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."
Sunil Chand, January 2015
*Lotus Construction (Fiji) Ltd villas (in which Biman Prasad has shares) is marked in yellow. Jack's warehouse is on the right of the aerial photo
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Lotus Construction (Fiji) Ltd, a closed guarded secret until January 2024
*Under the Political Parties Act 2014, Biman Prasad is legally required to faithfully declare his assets, liabilities and income.
*We obtained his declarations from 2014-2024, and found that not until 2024, when he became Finance Minister and Deputy Prime Minister in the three-legged wobbly Coalition government, that he mentions the name "LOTUS" in his declaration.
*Prasad does not indicate whether he is talking about his shares in Lotus Construction (Australia) Ltd or Lotus Construction (Fiji) Ltd.
2014:
*Shares in Business. Value, $85,000
2015:
*Shares in Business/Companies. Value, $85,000 (estimated total value as 31/12/2015
2016:
*Shares in Business/Companies (2 Companies). Value, (33% share in company 1 (and 50% share in another).
2017:
*Shares in Business/Companies. One third share in one and 50% share in another.
Value, One third share in 1 company and 50% share in another.
2018:
*Shares in Business/Companies. One third share in one and 50% share in another.
Value, One third share in 1 company and 50% share in another.
2019:
*Shares in Business/Companies. One third share in one and 50% share in another.
Value, One third share in 1 company and 50% share in another.
2020:
*Shares in Business/Companies. One third share in one and 50% share in another.
Value, One third share in 1 company and 50% share in another.
2021:
*Shares in Business/Companies. One third share in one and 50% share in another.
Value, One third share in 1 company and 50% share in another.
2022:
*Shares in Business/Companies. One third share in one and 50% share in another.
Value, One third share in 1 company and 50% share in another.
(No dividends have been paid or collections).
2023:
*Shares in Business/Companies (2 companies - one third share in one and 50% share in another. Value, One third on one company and 50% in another.
(No dividends have been paid or collections).
2024:
Shares in Business/Companies.
One third share in one (Lotus Rental - dormant)
Value, One third in Lotus Rental and 50% in Lotus Construction.
*No dividend have been paid or collected.
*Lotus Construction Property Lot 1 SO5371 TLTB 32593
*Valued - $5,600,000. Loan ANZ - $1,207,095.13 & $163,229.06)
Fijileaks: Who owns the native lease above - is it Sunil Chand or Prasad?
Last week, after forensic research (still ongoing), we were able to trace and reveal Biman Prasad's link with Sunil Chand and Lotus Construction (Fiji) Ltd:
*We call on FICAC to charge Biman Prasad under the Political Parties Act s24 for not revealing his 5 per cent in Lotus Construction (Fiji) Ltd in his 25 July 2014 declaration (and subsequent ones), for Lotus Construction (Fiji) Ltd was registered in Fiji on 20 March 2014, and had built villas by January 2015.
In his 28 July 2014 signed declaration, Biman Prasad merely stated
'Shares in Business' - 85,000.
*Prasad, as we argued previously, must also be charged for not disclosing his wife's link to the Global Girmit Centre, to which he gave $200,000 of Fiji taxpayers money to organise the international girmit conference.
*His wife Rajni Chand and Ganesh Chand are GGI co-trustees.
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The NFP leader was allocated 5% shares in Lotus (Fiji) on 15 March 2014.
*In or around 2018, the shares were apportioned 50/50.
*There was no 'oversight' on Prasad's part in his declarations.
*Was he hiding his business links from Bainimarama-Khaiyum duo?
COMING HOME FROM AUSTRALIA:
In his January 2015 Fiji Times interview, Sunil Chand said he wanted to return to Fiji and invest in the accommodation and service sector.
*Our search of his Lotus Construction (Australia) Ltd in Sydney reveal he was recently facing a winding up order in the NSW Supreme Court (we are trying to establish the status of the case) and had cases brought against his company from clients who claimed that he had not carried out work up to standard that was required under the building regulations.
*In one of his cases, Sunil Chand told the Tribunal that he was a carpenter in Fiji before arriving in Australia, where he gained further education and training before venturing into the property building industry.
*Incidentally, in 2015, we were focused on another share scam involving the Minister for Everything - Aiyaz Khaiyum's Midlife Investments Ltd.
*Biman Prasad had escaped our torchlight, so it seems, in 2015
From Fijileaks Archive, 15 October 2015
The letter to Aiyaz Khaiyum from FICAC Deputy Commissioner George Langman and copied to the Leader of Opposition, Ro Teimumu Kepa, reads:
"A thorough case assessment into the factual findings of the allegation and the above mentioned complaint, as shown by all relevant supporting documents, it became evident that the property in question was purchased by and is owned by Midlife Investments Limited and not by Mr Sayed-Khaiyum. It was obtained by Midlife Investments being a legal person via a mortgage valued at $80,000 and an equitable contribution of $20,000 by Hon Mr Sayed-Khaiyum.
"Therefore it is apparent that Hon Mr Sayed-Khaiyum has not understated the value of the asset in his declaration dated 24th February 2015 in which he had a conditional equitable interest value, which is in fact lesser than the amount declared. In fact the asset he owns as far as Midlife Investments is concerned are the 99 shares in it."
Fijileaks: If Lot 13 was purchased by and is owned by Midlife Investments Ltd and NOT by Khaiyum, then why did he bother to mention that he owned a property worth $500,000 at 59 Vunaceke Rd, Suva and LOT 13 at Wailoaloa, Nadi, (owned through MIL) worth $80,000? And, in the same declaration he claims his wife owns a car worth $50,000
Now, FICAC deputy George Langman, the former military carpenter, is ruling (on Khaiyum's behalf) that LOT 13 was obtained by MIL via a mortgage valued at $80,000 and an equitable contribution of $20,000 by Khaiyum |  |
*SHORTLY after the declarations of assets were made public, Fijileaks sent its Investigative Team to the ROC to ask for a copy of the MIL file. We were told that the FILE was not in the system, and now it is missing.
*If this CON MERCHANT Khaiyum had nothing to hide, why he ordered ROC to remove the MIL file from the system?
*We have been asking him for over a year to reveal who are behind Midlife Investments Ltd - typically, he has not responded, and now has come out with all guns blazing with a letter from Langman, saying he has been cleared of all the allegations made against him by Ro Teimumu Kepa, the Leader of the Opposition.
