Blog Posts

LOTUS (FIJI) Plan and Vision, 2014-2024. Fiji's Finance Minister PRASAD forms Lotus (Fiji) with cousin, 15 March 2014. In 2024, 50% shareholder in Lotus (Fiji) without contributing a cent. Prasad still on run from FICAC

17/9/2024

COMING UP: Biman Prasad and Rajni Kaushal Chand sold their Burerua St property to Lotus (Fiji) in which Prasad holds 50% shares.
Basically, he sold the house to his own company Lotus (Fiji) for $550,000.
Lotus (Fiji) paid on his behalf the Capital Gains Tax of $34,600 to FRCS.
Lotus (Fiji) paid Prasad and his wife's ANZ loan of over $230,000.
Lotus (Fiji) wrote off Biman Prasad's contribution of over $296,000 in exchange for two units in Westfield Villas, Legalega, Nadi.
Biman Prasad never disclosed that his wife owns two units in Westfield Villas. He has never disclosed that the sub-leases to the 28 units were transferred to Rajni Kaushal Chand by Lotus co-director Sunil Chand.
We call on FICAC to track down Fiji's Finance Minister and charge him.
*He has committed multiple breaches in his statutory declarations from 2014 to 2024 under the Political Parties Act 2013.

LOTUS (Fiji) Ltd in which Biman Prasad holds 50% shares paid from the company's Lotus ANZ Account No*************on 1/3/2016, 10/3/2016, 11/3/2016, 14/3/2016, and 31/3/2016 the following amounts for
'The Proposed Lotus Apartments Development for Mr Biman Prasad':
Legal: $3,620.05
Plan Fees: $56,000
Valuation Fees: $2,875
Pacific Valuation: $436
Khemindra Engineer certificate: $16,350
Wood & Jepsen Consultants: $15,958.84
TOTAL: $95,239.89

There is a bit of confusion in the Valuation Report. The Valuer appears to be making an assessment of future value of $2.815million on completion of 14 flats but ends up saying 'on the date of inspection, 9 July 2015'.
We can't see anywhere in the Report that he actually and separately declared the value of the Burerua property.
Anyway, Biman Prasad sold it to himself (via Lotus (Fiji) and ANZ might have relied on the valuation to lend to Lotus (Fiji).
In fact, although Biman Prasad failed to disclose in his statutory declaration for three consecutive years that the Burerua property was jointly owned by him and his wife Rajni Kaushal Chand, the couple jointly sold it to Lotus (Fiji) - the company in which he is 50% Director, for $550,000.
The original owners on the Certificate of Title were Biman Prasad and his wife Rajni Chand. The mortgagee on title was ANZ Bank.
Did Lotus (Fiji) purchase it unencumbered? Or they sought finance? Was the funder ANZ as new registered mortgagee on the Title?
If ANZ is on the title now, than did ANZ organise another valuation or did they rely on the same valuation ($2.815m) of future earnings and loans serviceability?
*The financials would show who the directors of Lotus (Fiji) were, one is Biman Prasad the vendor.

*Three years earlier, in 2013, Biman Prasad had applied to the Suva City Council for permission to build an extension to the Burerua St property, to the cost of $350,000

In March 2014, he saw the potential when he and his cousin SUNIL CHAND formed Lotus Construction (Fiji) Ltd. He accepted 5% shares in the company, and a year later, another 45%, making him a 50% shareholder, with Westfield Villas reportedly worth over $18million

FICAC's FUGITIVE: We call on Fiji POLICE to investigate whether FICAC Commissioner Malimali and A-G Leung attempted to pervert the cause of justice when Malimali blocked Biman Prasad's lawful arrest and charges

16/9/2024

Fijileaks Founding Editor-in-Chief to Prime Minister Sitiveni Rabuka, copied to
A-G Graham Leung, Sunday 15 September 2024:
*It is shocking that Barbara Malimali, despite being under FICAC's radar, was parachuted into the office as the new FICAC Commissioner. She should have been advised that her appointment would be put on hold until FICAC had completed its investigation into her case, no matter how frivolous and vexatious. Qiliho (convicted) and Pryde (still under suspension) were suspended until their cases were dealt with, and so were numerous others. It is like putting a pedophile in charge of a children's home - without any proper police check. You know, the Fiji public is NOT stupid. Biman tried to ride on the bandwagon that he was being victimised, and the charges were baseless. Rubbish."

*The chain of events leading up to the go-ahead to arrest and charge Fiji's Finance Minister and Deputy Prime Minister Prasad was within the then-acting FICAC Deputy Commissioner Francis Puleiwai's legal remit.

She had signed off the arrest and charging of Biman Prasad for multiple breaches of the Political Parties Act 2013 regarding the contents in his statutory declarations on a Monday.
Barbara Malimali was only parachuted on Thursday afternoon as the newly appointed FICAC Commissioner. She had no legal powers to overrule Francis Puleiwai's decision to arrest and charge Prasad.
We wonder if Graham Leung's vociferous support of Malimali's appointment and actions can be described as indirectly preventing Biman Prasad's arrest, and the charges he was facing.
Below is another lie in his statutory declaration that we exposed. It is supported by the Valuers Report on the Burerua property, which was valued in 2015 at $2,815,000 but which the couple (Biman and Rajni) sold to Lotus (Fiji) for $550,000 in 2016.
We will publish an analysis of the sale that smacks of alleged fraud, possibly involving FRCA regarding the Capital Gains Tax.
Biman Prasad must be charged for lying about being the sole proprietor of the Burerua property. Although the couple sold 'Burerua' for $550,000 in 2016, Prasad, in his statutory declarations, had claimed that all his three houses had a combined value of $650,000.

SHORT-CHANGING FRCS AND TAXPAYERS OF FIJI
As we revealed previously, Biman Prasad and his wife Rajni Kaushal Chand sold the Burerua St property at a staggering deflated price of $550,000 to Lotus (Fiji) in which Prasad has 50% shares.
In fact, for the above proposed 14 flats, Biman Prasad (Lotus Fiji) had already paid architects, surveyors, and the valuer in 2016 before the couple sold off 'Burerua' for $550,000 in exchange for the clearance of loan and two units in Westfield Villa for Rajni Chand.
Again, Biman Prasad has not disclosed the two units worth $300,000 in any of his statutory declarations and the FICAC investigating officers should file additional charges, and arrest, for they already have the authorised order from the then acting FICAC Deputy Commissioner.
Barbara Malimali and her shadowy string pullers have no power to stop FICAC legal team, for if Malimali and her side-kicks attempt to interfere, they should be handed to the Fiji Police for attempting to pervert the cause of justice. FICAC's Fugitive Prasad must be apprehended, charged and presented before the court, where he can defend himself.
*JUSTICE DELAYED IS JUSTICE DENIED. HARIBOL, HARIBOL.

CAPITAL GAINS TAX, 'Hare Ram, Ram Ram Hare Hare'. Biman PRASAD and Rajni sold Burerua house for $550,000 to Lotus (Fiji). Lotus, in which Mr 50% Company Director, illegally PAYS his CGT to FRCS for $34,600

15/9/2024

COMING SOON: A year previously, in July 2015, the Burerua St property had been valued at over $2.8million on behalf of the ANZ Banking Group Ltd.
Curiously, when it came to selling to Lotus (Fiji) in 2016, the couple sold it for $550,000, with Lotus paying CGT on behalf of Biman Prasad.
What game were the DIRECTORS playing with FRCS?
What about Rajni's share of CGT? We may recall Prasad lied in his declarations that he was the sole proprietor of the Burerua St property.
He must be forced to RESIGN and an Inquiry launched into Lotus (Fiji), Biman Prasad, Rajni Chand, and Lotus (Fiji) co-director Sunil Chand.
*A thorough inquiry should be launched into ANZ bank loans made to Prasad, his wife and Lotus (Fiji)

Burerua St property valued at $2.8million and a year later sold for $550,000

HARIBOL: On Saturday, Fiji's Finance Minister, Deputy Pradhan Mantri (DPM) and NFP leader met the former FRCS CEO, and Hare Krishna devotee, VISVANATH DAS. It was on behalf of Dass that FRCS had acknowledged the $34,600 from Lotus Construction (Fiji) Ltd in 2016.

“Srila Prabhupada’s teachings, rooted in the timeless wisdom of Bhagavad-Gita and Srimad-Bhagavatam, offer profound insights into the nature of the soul, the importance of living a life of integrity, and the pursuit of true happiness.”
Prasad speaking at the celebration of International Society of Krishna Consciousness (ISKCON) Fiji's 50th anniversary celebration in Toorak, Suva. Biman Prasad added the National Development Plan 2025-2029 and Vision 2050 will be launched on Tuesday (17th September).

By RICHARD NAIDU

Capital Gains Tax Decree 2011
25 May 2011
Category : Taxation and stamp duty

Introduction
1. Capital Gains Tax (CGT) now applies in Fiji. The Capital Gains Tax Decree 2011(Decree) was published on 16 May 2011 and its effect is backdated to 1 May 2011. Those parts of the Land Sales Act taxing profits on land sales have been repealed.
2. The Decree imposes CGT at the rate of 10% on capital gains on the disposal of certain capital assets. The Decree will impact many capital disposals. Owners of affected assets now need to consider the CGT consequences of sale/disposal of those assets. The Decree is also likely to increase the time it takes to settle land transactions.
3. Two broad features to note are:
(a) the cost of capital assets for CGT purposes is not indexed in any way. It is understood that the policy reasons for this are to ensure simplicity in the application of the tax, the “trade-off” being the relatively low tax rate applied
(b) Fiji CGT is a transaction tax rather than a form of income tax. Capital gains do not form part of assessable income (and accordingly cannot be offset by deductions for usual expenditure, etc). Affected capital disposals are taxed separately and must be returned for separately.
What gains are taxed
4. Gains made on the disposal of capital assets are taxed. A capital asset is defined to include:
(a) land, buildings and improvements on land, and any interest in land such as a lease
(b) vessels of over 100 tonnes
(c) yachts and aircraft
(d) shares and other financial assets
(e) intangible assets and
(f) an option, right or interest in any of the above assets.
Assets that are trading stock for the purposes of the Income Tax Act (ITA) are excluded.
Residency issues
Residents
5. A resident is taxed on the capital gain made on the disposal of capital assetswherever located. A resident for the purposes of the Decree means a “resident” as defined in the ITA1, a resident trust and a resident partnership. So, for example, a Fiji resident must pay CGT on the disposal of an asset if it is located overseas2. Some exemptions are available to residents (see below).
Non-residents
6. A non-resident pays CGT only on capital assets that are Fiji assets. Fiji assets are defined to mean:
(a) land, structural improvements to land, or an interest in land or structural improvement to land, including a lease where the land is located in Fiji
(b) a share in a company, or interest in partnership or trust, if the assets of the company, partnership, or trust are solely or principally Fiji assets under the above paragraph
(c) a capital asset of a fixed place of business in Fiji
(d) a share, security, equity, or other financial asset issued by a resident person
(e) an interest in a resident partnership or resident trust or
(f) an option, right or other interest in an asset referred to in above
So CGT applies if, for example, an Australian company sells shares in a Fiji subsidiary.
Important concepts
7. CGT is levied on capital gains on the disposal of capital assets, other than an exempt capital gain. A capital gain for the purposes of the Decree is defined as consideration received on the disposal less the cost of the asset at the time of the disposal. So the concepts of disposal, consideration received and cost in the context of the Decree are important.
Disposal
There is a disposal of an asset when a ‘person parts with the ownership’ of it. This includes when the asset is exchanged, transferred, distributed, cancelled, redeemed, relinquished, destroyed, lost, expired or surrendered. So loss of a building by fire would be a disposal.
Consideration received
9. Consideration received is the total amount received by a person for the asset including the fair market value of any consideration received in kind. Consideration received for an asset that has been lost or destroyed includes any compensation, indemnity or damages received. If FRCA considers a transaction to be non-arm’s-length, FRCA may deemed it disposed of at fair market value (meaning “ordinary open market value”).
Cost
10. Cost includes consideration paid for the asset or its development, including construction costs, incidental expenditure in acquiring or disposing of it and expenditure incurred in installing, renewing or improving it. So it becomes more important to ensure good record-keeping of expenditure which may qualify as “cost(s)” for CGT purposes.
Exemptions
11. Certain capital gains are exempt from tax including:
(a) in case of a resident individual or a Fiji citizen, a gain below F$20,000
(b) a gain on the disposal of an individual’s principal place of residence if it was the individual’s residence during the whole of the period the individual owned it3
(c) a gain made on the disposal of shares listed on the South Pacific Stock Exchange.
Deferral
12. Recognition of a capital gain is deferred (to when the asset is later disposed of):
(a) in the case of loss, destruction or compulsory acquisition, where consideration received is reinvested within one year of receipt to replace the asset disposed of
(b) for matrimonial settlements
(c) for transfers of property after death.
Administration
CGT returns and payment
13. A person liable for CGT is required to pay the amount of CGT and file a CGT return within 30 days of the disposal of the capital asset. The Tax Administration Decree applies to the Decree, meaning the same procedures apply to collection, enforcement and disputes concerning CGT as with other taxes.
Land registration
14. The Decree prohibits the Registrar of Titles from registering a transfer unless s/he receives a certificate from the CEO of FRCA stating that either CGT is not payable or it has been paid or satisfactory arrangements for its payment has been made. We have not been told what arrangements will be made for timely delivery of certificates. This issue has the potential to slow real property settlements.
Conclusion and comment
15. The wisdom of imposing CGT at this time will no doubt be a matter of debate. The Decree will impact many capital asset transactions. CGT consequences must now be considered before considering these transactions. The returns and payment requirements are also potentially burdensome, as is possible delay, especially in land transactions, that the administration of this Decree may cause.
16. On the “plus” side is the possibility that sales of capital assets will result in fewer disputes with FRCA in respect of income tax (FRCA has been quick to issue aggressive income tax assessments for “dealing” in respect of those sales) and Land Sales Tax. In theory it is now more certain that these sales will be taxed at 10% of gain and no more. Time will tell.
Contact
Richard Naidu
Partner
Direct Dial +679 322 1816
[email protected]

LOTUS (Fiji) and Mr 50% Director BIMAN CHAND PRASAD. His litany of lies in his statutory declarations from 2014-2024 can only be understood if we examine his Directorship with cousin Sunil Chand in LOTUS (Fiji)

15/9/2024

LOTUS (Fiji), the company in which he has 50% shares, illegally paid his Capital Gains Tax when the couple (Biman Chand Prasad and Rajni Kaushal Chand - Vendors) sold their 'Burerua St Property' in Suva to Lotus (Fiji) in 2016 for $550,000.
What about his wife Rajni, for if a capital asset is jointly owned by two or more persons, any capital gain made on disposal of the asset must be apportioned among the owners according to their respective interests in the asset.
We call on Prime Minister Sitiveni Rabuka to SACK Biman Prasad as Finance Minister and line manager of Fiji Revenue and Collection Services (FRCS) and order a full audit of the tax affairs of Biman Prasad, Rajni Kaushal Chand, Lotus Construction (Fiji) Ltd and the co-director Sunil Chand.
FICAC must take Biman Prasad into custody and charge him for the multiple breaches in his statutory declarations under the Political Parties Act.
The charges are NOT BASELESS despite his 'panni-wallah'* lawyer(s) informing FICAC. In fact, these lawyers must be charged for attempting to pervert the cause of justice unless Biman Prasad never revealed his shenanigans' at Lotus (Fiji).

Lotus (Fiji) pays FRCS Biman Prasad's Capital Gains Tax, 11 March 2016

Fijileaks: We have redacted a few details but will reveal in full at a later date.

TRADING VILLAS: LOTUS (Fiji) gave Rajni Chand Two Units (9 and 11) in exchange when the couple sold 'Burerua' to Lotus (Fiji) for $550,000 and allegedly cleared Biman Prasad's outstanding ANZ Bank Loan, and also paid on his behalf the Capital Gains Tax. FULL STORY in another instalment. Biman Prasad did not declare in his statutory declarations from 2016 to 2024 that his wife owns TWO UNITS in Westfield Villas.

The Burerua Street property owned by Biman Prasad and his wife Rajni Chand

By VICTOR LAL
Fijileaks
Founding
Editor-in-Chief

Fijileaks to FICAC and Stiveni Rabuka: Biman Prasad MUST be CHARGED, and SACKED from Coalition government as Fiji's Finance Minister and Deputy Prime Minister.
In the course of our expose, we will reveal, backed by incontrovertible evidence from inside the vaults of FRCS, how Lotus (Fiji), the company in which he has 50% shares, illegally paid his Capital Gains Tax, when the couple (Biman Chand Prasad and Rajni Kaushal Chand) sold their 'Burerua Property' to Lotus (Fiji) in 2016 for $550,000.
For three years, Prasad lied in his statutory declarations (2014, 2015, and 2016) that he was the sole owner of 'Burerua Property'.
FIJI, we will reveal the revenue loss to FRCS when he was gifted 5% +45%=50% shares in Lotus (Fiji) without having contributed a cent. We will reveal how investors who were allegedly duped into buying units in the 'Westfield Villa Project' have been evicted by Lotus (Fiji) without any compensation. We will reveal how Lotus (Fiji), having failed to provide sub-leases to the Australian investors (mostly Indo-Fijians), has been repeatedly blaming the I-Taukei Land Trust Board for not providing Lotus (Fiji) the 'STRATA TITLE'.
We will reveal how Biman Prasad has NOT disclosed in his statutory declarations that his wife Rajni owns TWO UNITS at 'Westfield Villas' at Legalega, Nadi, in part-exchange for selling to Lotus (Fiji), with her husband, the 'Burerua Property' for $550,000.
We have calculated that FRCS has been allegedly short-changed $830,000 in taxes.
We will reveal more, Fiji, and call for the RFMF to take PRASAD into custody if the Coalition government and FICAC Commissioner continue to protect him.

LOTUS CONSTRUCTION (Fiji) Ltd: Biman Prasad's Journey With 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.

Fijileaks investigation suggests the total cost was around $6.5million.

Next instalment: The truth behind the total cost and the financiers behind ‘Westfield Villas’. Biman Chand Prasad did not contribute a single cent to the ‘$4 million villa project’. And he ended up holding 50 per cent shares in Lotus (Fiji) Ltd.

COMING SOON: How Lotus (Fiji) Ltd owned by Biman Prasad and Sunil Chand demolished 'Burerua Property' in 2017 after buying it off the couple (Biman and Rajni) and are building 14 FLATS on the site

The original house has been demolished with plans to build 14 FLATS

From Fijileaks Archive 26 August 2024

Fijilleaks: We also call on Coalition government to review the appointment of Biman Prasad's NZ buddy Udit Singh as FRCS CEO. Although Singh was not at FRCS in 2006 when Lotus (Fiji) paid Biman Prasad's Capital Gains Tax, he must be asked to step down for FRCS auditors to carry out a thorough audit of the tax affairs of Prasad, Rajni Chand, Sunil Chand, and Lotus (Fiji) Ltd

FRCS CEO UDIT SINGH

FICAC CASE 'BASELESS'. Fijileaks to FICAC: 'We have provided your office documents we uncovered in the last three weeks, so bring BIMAN Prasad into FICAC, charge him for failing to reveal his DIRECTORSHIP.'

13/9/2024

PARTY TIME IS OVER FOR NFP LEADER PRASAD

On the morning of Wednesday, 4th September 2024, as acting Deputy Commissioner, Francis Puleiwai had, after receiving legal advice, sanctioned that Biman Chand Prasad should be arrested and charged the following day (Thursday, 5 September) for multiple statutory declaration breaches under the Political Parties Act 2013. She was exercising her legal powers so the new FICAC Commissioner, Barbara Malimali, has no retrospective power to interfere or review the decision that was legally made to charge the Coalition government's Deputy Prime Minister and Finance Minister Prasad.
Electoral offences (Chief Justice Tony Gates, 2018) are properly classified as CRIMINAL. A wide range of obligations are placed upon office holders or registered officers of political parties: 24(1A) of the Political Parties Act 2013.

Fijileaks to FICAC: Here are FIRST of the many charges against NFP leader and Finance Minister Biman Prasad that you can start with next week:

Count One
Statement of Offence
PROVIDING FALSE DECLARATION OF ASSETS, INCOME AND LIABILITIES: Contrary to section 24(1A) and 24(5) of the Political Parties (Registration, Conduct, Funding and Disclosures) Act No. 4 of 2013.
Particulars of the Offence
BIMAN CHAND PRASAD between 01 January 2015 and 31 December 2015, at Suva in the Central Division, as the Leader of a registered Political Party namely the National Federation Party, provided a false declaration of assets and liabilities to the Supervisor of Elections by failing to declare and provide information namely that BIMAN CHAND PRASAD was a company Director in Platinum Resorts & Hotels Limited, a limited liability company duly registered with the Registrar of Companies in Fiji contrary to sections 24(1A) and 24(5) of the Political Parties (Registration, Conduct, Funding and Disclosures) Act 2013.

Count Two
Statement of Offence
PROVIDING FALSE DECLARATION OF ASSETS, INCOME AND LIABILITIES: Contrary to section 24(1A) and 24(5) of the Political Parties (Registration, Conduct, Funding and Disclosures) Act No. 4 of 2013.
Particulars of the Offence
BIMAN CHAND PRASAD between 01 January 2016 and 31 December 2016, at Suva in the Central Division, as the Leader of a registered Political Party namely the National Federation Party, provided a false declaration of assets and liabilities to the Supervisor of Elections by failing to declare and provide information namely that BIMAN CHAND PRASAD was a company Director in Platinum Resorts & Hotels Limited, a limited liability company duly registered with the Registrar of Companies in Fiji contrary to sections 24(1A) and 24(5) of the Political Parties (Registration, Conduct, Funding and Disclosures) Act 2013.

'I don't need to respond to the likes of Chaudhry and Narube. My lawyers have made it clear to FICAC that there is no basis for a charge.' -
Biman Prasad, 13 September 2024

Fijileaks: In the last three weeks, we submitted to FICAC materials we uncovered in the course of our investigations, and independent of the original complainant, against Fiji's Coalition Finance Minister BIMAN PRASAD, and called on the anti-corruption body to start laying charges against Prasad, starting with two counts of his directorship of Platinum Hotels & Resorts Ltd, a company that had provided over $2million to Lotus Construction (Fiji) Ltd in the construction of 28 villa units at Westfield, Legalega, Nadi. Prasad holds 50% shares in Lotus (Fiji) Ltd.
What 'Lawyers' have advised FICAC that the charges are BASELESS.
In fact, we will be calling on the Director of the Criminal Investigations Department to begin a separate criminal investigation against Biman Prasad arising out of his nexus with Lotus (Fiji) Ltd.

There is no ambiguity (अस्‍पष्‍टता) or exception (अपवाद) in the Political Parties Act. Prasad, within 30 days of the end of each final year of the political party, was required to provide to the FEO a statement containing the following information in respect of him, his spouse and any children:
(iv) any directorships or other office in a corporation or other organisation whether in Fiji or abroad held by each of them.
He must be charged with 16 counts of failing to disclose (2017, 2018, 2019, 2020, 2021, 2022, 2023 and 2024) that his wife Rajni Kaushal Chand was (is) a trustee of the Global Girmit Centre along with his chamcha* Ganesh Chand and Hirdesh Sharma.
The fact of the matter is that Biman Prasad was aware of the existence of the GGI and that his wife was one of the three trustees, for in May 2023 he gave Chand & Chand $200,000 of taxpayers money for them to organise a two-day girmit related international conference at the USP, and GGI also brought delegates from overseas for the conference, and housed some at the Borron House in Suva.
FICAC and CID must investigate whether Rajni, Ganesh and Sharma obtained corrupt benefit from Biman Prasad, and if Prasad abused office to dish out $200,000 without calling for tender so other academic institutions could bid to host the girmit conference.
Biman Prasad must be charged with two counts of failing to disclose that he held 30 per cent shares in Platinum Hotels & Resorts Ltd, a company that provided over $2million towards the construction of the 28 villa units at Legalega, Nadi.
Biman Prasad must also be charged for lying that he was the sole proprietor of the property 'Burerua Property' in his 2014, 2015, and 2016 declarations.
A Fijileaks* investigation based on documents revealed that he was lying. In 2016, he and his wife Rajni jointly sold the 'Burerua Property' for $550,000 to Lotus Construction (Fiji) Ltd, a company in which Biman Prasad has been a 50% shareholder since 2015. He was already a 5% shareholder since he and his first cousin Sunil Chand formed Lotus (Fiji) on 15 March 2014.
*Prasad revealed Lotus's identity when he became Coalition's Finance Minister.

Fijileaks to FICAC: Here are two counts to start with next week

Count One
Statement of Offence

PROVIDING FALSE DECLARATION OF ASSETS, INCOME AND LIABILITIES: Contrary to section 24(1A) and 24(5) of the Political Parties (Registration, Conduct, Funding and Disclosures) Act No. 4 of 2013.

Particulars of the Offence

BIMAN CHAND PRASAD between 01 January 2015 and 31 December 2015, at Suva in the Central Division, as the Leader of a registered Political Party namely the National Federation Party, provided a false declaration of assets and liabilities to the Supervisor of Elections by
failing declare and provide information namely that BIMAN CHAND PRASAD was a company Director in Platinum Resorts & Hotels Limited, a limited liability company duly registered with the Registrar of Companies in Fiji contrary to sections 24(1A) and 24(5) of the Political Parties (Registration, Conduct, Funding and Disclosures) Act 2013.

Count Two
Statement of Offence

PROVIDING FALSE DECLARATION OF ASSETS, INCOME AND LIABILITIES: Contrary to section 24(1A) and 24(5) of the Political Parties (Registration, Conduct, Funding and Disclosures) Act No. 4 of 2013.

Particulars of the Offence

BIMAN CHAND PRASAD between 01 January 2016 and 31 December 2016, at Suva in the Central Division, as the Leader of a registered Political Party namely the National Federation Party, provided a false declaration of assets and liabilities to the Supervisor of Elections by
failing to declare and provide information namely that BIMAN CHAND PRASAD was a company Director in Platinum Resorts & Hotels Limited, a limited liability company duly registered with the Registrar of Companies in Fiji contrary to sections 24(1A) and 24(5) of the Political Parties (Registration, Conduct, Funding and Disclosures) Act 2013.

From Fijileaks Archive, 26 August 2024

The original complainant to FEO who referred the matter to FICAC in April 2024
1. Failed to declare the FNFP contribution as it added on top of his salary under the Parliamentary Remuneration Act 2014, excluding his contribution as required by law.
2. Failed to declare his travel allowances and the amounts he received during his overseas travel.
3. Failed to declare that he is the Governor of the Asian Development Bank in Fiji.
4. Failed to declare that his wife Dr Rajni Chand is the trustee of the Global Girmit Institute and that it facilitated the funds of $200,000 given by the Coalition Government.
5. Faied to declare his connection to Ganesh Chand and Hirdesh Sharma , the registered Trustees of the Global Girmit Institute, upon receiving $200,000 of Taxpayers funds.
6. I note that Biman Prasad declared that he owns 50 per cent shares in Lotus Construction Pte Limited however, upon obtaining the registration documents and the Article of Association – it was established that Biman Prasad only has a 5 per cent share in Louts Construction and not the 50 per cent share he claims in his declaration
7. I note that one of the directors of Lotus Construction, who Biman Prasad has shares, is Sunil Chand. Biman Prasad did not declare the business connection with Sunil Chand, who has the same Lotus Construction company in Australia, thus being a breach under section 24 (a) (b) (iii) of the Political Parties Act 2014 (Attached is exhibit 5- Louts Construction registration in Australia).
8. Biman Prasad’s spouse, Dr Rajni Prasad [Chand], did not declare that she is Chairperson to Femlink Pacific (Please note she has held this position from 2009 to date), therefore being a breach under 24 (1a) (d) of the Political Parties Act (Attached is exhibit 6- Femlink Document stipulating that Dr Rajni Prasad is the Chairman of the organisation). Dr Rajni Chand may/may not receive a salary from this post; nonetheless, it was a non-declaration.
9. I note that Biman Prasad and Dr Rajni Chand have not declared under section 24 (1) (a,b (iii) and 24 (1A) (c) of the Political Parties Act 2014 their business transaction to one Dr Ganesh Chand who is the co-trustee of the Global Girmit Institute as previously mentioned. However, due to the business transaction, the fact that must be taken into account is that Biman Prasad allocated $1 million to Pacific Polytech, whose Advisor is Dr Ganesh Chand. Please note that no tender process was in line with the Laws of Fiji. Please note that Pacific Polytech has not submitted its Audit reports. In 2022, funds were transferred to Pacific Polytech.

In The First Circle Solzhenitsyn wrote:
"For a country to have a great writer is like having another government. That's why no regime has ever loved great writers, only minor ones."
With The Gulag Archipelago Solzhenitsyn had become too great for the Soviet government. After years of harassment he was put on a plane and expelled from Russia.
*In 1994, at age 75, a bearded, patriarchal Solzhenitsyn returned from exile to his native Russia, where he was welcomed as a hero, the prophet of the post-Soviet era.

GODDESS KALI nor MALIMALI can stand in our way to bring Prasad and his wife Rajni to justice. Biman Prasad's declarations are not a case of poor 'dementia-stricken' NFP leader. It was calculated to mislead FEO

11/9/2024

*What role, if any, his LAWYER, and his wife Rajni Kaushal Chand, played in preparation of False Declarations to the Fiji Elections Office?

Sunil Chand

*On 13 August 2018 Sunil Chand of Lotus (Fiji) SUB-LEASED the i-Taukei Lease No 32593 to Biman Prasad's wife Rajni Kaushal Chand for a term of 99 years and 9 months and 17 days - commencing on 18 March 2016 at the yearly rental rate of $30 per unit. And, like night follows day, it must to clear to 'Blind Freddy and Bloody Mary' that Rajni Kaushal Chand was the 'grand sub-lessee landlady' of the 28 Westville Villa units. If so, Biman Prasad, unless he had been sleeping in the family bathroom and not in the master bedroom, MUST have been aware of the transfer of the lease to his wife. Under the Political Parties Act, he failed to declare Rajni Chand holding the sub-lease in his 2018, 2019, 2020, 2021, 2022, 2023 and 2024 statutory declarations.

LAND HAS EYES. In 2015, Lotus Construction (Fiji) Ltd, owned by Biman Prasad (50%) and his cousin Sunil Chand (50%), unveiled 'The Best Western Nadi Apartments/Tourist Accommodation', popularly known as 'Westville Villas', informing us through the media that it cost them $4million to build the units.
The former FFP Minister Parveen Bala was the Chief Guest at the opening ceremony.
The 28 'Westville Villa' units sit on I-Taukei land (Lease No 32593) in Legalega, Nadi.
Our investigation is separate from the original complaint filed with FICAC against Biman Prasad. We obtained most of the documents in August, meaning the details in them are up to date.
On 13 August 2018 Sunil Chand of Lotus (Fiji) SUB-LEASED the strata i-Taukei Lease No 32593 to Biman Prasad's wife Rajni Kaushal Chand for a term of 99 years and 9 months and 17 days - commencing on 18 March 2016 at the yearly rental rate of $30 per unit.
And, like night follows day, it must to clear to 'Blind Freddy and Bloody Mary' that Rajni Kaushal Chand was the 'grand sub-lessee landlady' of the 28 Westville Villa units.
If so, Biman Prasad, unless he had been sleeping in the family bathroom and not in the bedroom, MUST have been aware of the transfer of the lease to his wife.
Under the Political Parties Act, he failed to declare Rajni Chand holding the sub-lease in his 2018, 2019, 2020, 2021, 2022, 2023 and 2024 statutory declarations.
He did the same regarding his wife's association as Global Girmit Institute trustee.
Therefore, the new FICAC Commissioner can under NO circumstances shut Biman Prasad's file, and she must proceed to charge him as was planned last Thursday.
It is becoming unbearable to see Prasad strutting like an 'ostrich' Finance Minister.
In fact, Prime Minister Sitiiveni Rabuka should have SACKED him from Cabinet.
No Goddess Kali or Barbara Malimali can save Biman Prasad.
FICAC Commissioner must not open herself to any present or future prosecution for Abuse of Office or Attempting to Pervert the Cause of Justice.
*THE LAND HAS EYES AND WE CAN SEE IT IN THE DOCUMENTS

Three original buyers, who bought the units, and are now embroiled in court cases against Sunil Chand and Lotus (Fiji, 50% owned by Prasad) have put caveats against i-Taukei Lease No 32593 sub-leased to Rajni Chand, the wife of Fiji's Finance Minister and Deputy Prime Minister.
There is no way Biman Prasad can claim that he was unaware that his and his cousin's company had sub-leased the lease to Rajni Chand.
Biman Prasad should have declared it but he chose to hide it from FEO.
There is no mention of Rajni Chand and the sub-lease in his 2018 statutory declarations and subsequent years right up to 2024.

*Fiji, just hold your breath, for another Finance Minister BIMAN CHAND PRASAD will get the CHOP from us, for more devastating revelations on its way. Goddess Kali nor Malimali will be able to stop us. His statutory declarations are merely 'p**s in the wind'
Soon, we will find out who is Maha Chor* (Big Crook). Prasad branded former Interim Finance Minister Mahendra Chaudhry in the post 2006 coup government a Chor, Compulsive Liar, who was convicted of hiding $2m in Australia.
He was referring to my expose in the Fiji Sun,*
24 February 2008:

FICAC v Fijileaks: FIJI, We will decide Fiji Finance Minister's FATE

FIJI WANTING ANSWERS. BEN KUSH, 'Why isn't Biman charged yet, for non-declaration? Did he declare all his assets to the FEO or not? Simple question. Fijileaks: No, he LIED and HID them. FLP: 'Charge PRASAD'

9/9/2024

Fijileaks: The NFP leader, Deputy Prime Minister, and Finance Minister Biman Prasad, after coming out of a $12,000 party at taxpayers expense at GPH, when questioned about the $200,000 he gave to his wife Rajni Kaushal Chand and Ganesh Chand to organise the two day girmit conference, told local TV that FLP leader Mahendra Chaudhry was a CHOR (Thief), a compulsive liar, and a convicted criminal who was hiding $2million in Australia. As a result, Chaudhry should not question him about the 'girmit* money' that he gave to his wife and Ganesh Chand, trustees of the Global Girmit Institute.
How could Prasad give $200,000 to GGI when in his 2017, 2018, 2019, 2020, 2021, 2022, 2023, and 2024 statutory declarations, Biman Prasad doesn't declare that his wife Rajni was, and still is, a TRUSTEE.
FICAC must charge this man with 16 counts of failing to declare his wife's association with the GGI, as he is required by law in the Political Parties Act. FULL STOP.
And other charges he was facing, when he went into hiding last Tuesday.
Who the hell is RICHARD NAIDU to allegedly tell the Coalition government and FICAC when to charge or not to charge his chamcha and Fiji's Finance Minister Prasad.
In fact, both should be investigated over the Fiji Water TAX break in the Budget.
If the rumour of Naidu's alleged interference has any substance, he must be charged with attempting to pervert the cause of justice.
As for Barbara Malimail, she must let FICAC investigators who have spent months on the case arrest, charge, and present Fiji's Finance Minister in the court.
She is NOT there to thwart Prasad's case that was ready to proceed last Thursday.

Checking FICAC Update News?

In the last 36 hours, according to his own admission, he was very busy - opening the Kimaya House, in Tavua

DOWNGRADED. Ironically, on 8 September, Biman Prasad was one notch down in status, from Professor Biman Prasad to Dr Biman Prasad

FACE UP TO BIMANGATE. His case is more than that of making FALSE declarations under the Political Parties Act. Our investigation suggests serious alleged criminal acts as Lotus (Fiji) Director. He must be charged

8/9/2024

CRYSTAL BALL GAZING INTO THE CHARGES. Prasad claimed to FBC News that his lawyers have spoken to FICAC and rejected any basis of charges. Absurd. Unless the charges were read out to him, how do his lawyers know the nature of the charges? It was most likely after he was tipped off on the impending arrest. He avoided FICAC since last Tuesday, and on Thursday, he narrowly escaped meeting his Political WATERLOO.
Our cavalry, however, is in hot pursuit of bringing him to justice.
Napoléon Bonaparte: 'Victory belongs to the most persevering.'*

BIMAN PRASAD'S FACEBOOK SUPPORTERS:
It has been brought to our attention that one Facebook commentator, PRAMESH SHARMA, is calling on new FICAC Commissioner Barbara Malimali to use her first thirty days in office to thoroughly review all ongoing investigations, seek independent advice, and only proceed with charges when she is fully convinced that legal breaches have occurred.
Similarly, Sharma continues: In Biman's case, who is the complainant, and if this case proceeds to trial, will the complainant be available in Fiji to testify?
Is this an abuse of office or just a clarification issue regarding the Declaration of Assets?
Fijileaks* to Pramesh Sharma. It's an Abuse of Office and is not merely a clarification issue regarding the declaration of assets. The charges carry a $50,000 fine or ten years imprisonment under the Political Parties Act.
Biman Prasad lied in his declarations, hid his directorship, lived under the same roof with his wife, Dr Rajni Kaushal Chand, and claimed he was the sole owner of one of the houses until we found that he and his wife were joint owners. How did we find out?
The couple jointly sold one of the houses to Lotus (Fiji) for $550,000, a company in which he holds 50% of shares with SUNIL CHAND.
We understand that the original complainant has also lodged complaints against others, but what matters is whether the allegations can stand up to scrutiny.
In Biman Prasad's case, we are discovering that some of her cases have merit, and we are discovering more every day. We understand that the complainant lodged her case with the Supervisor of Elections in February, and after reviewing Prasad's statutory declarations, the Supervisor of Elections sent the case to FICAC in April.
Last Thursday, after months of investigation, FICAC was ready to charge Prasad, but other events intervened, and Fiji's Finance Minister escaped, albeit temporarily. FICAC had obtained independent legal advice to begin laying charges against NFP leader and Finance Minister Prasad.
We take it Sharma has heard of ZOOM. During the Covid lockdown, many criminal trials continued via Zoom.
After the untimely death of acting DPP David Toganivalu, his replacement, John Rabuku, did not halt the cases against Frank Bainimarama, Sitiveni Qiliho and Aiyaz Sayed Khaiyum.
Two, Bainimarama and Qiliho, are serving prison sentences for trying to halt the criminal investigations into USP.
Barbara Malimali must allow her FICAC investigators to charge Biman Prasad as was planned last Thursday.
She can add new charges as we provide FICAC with our findings of falsehoods, omissions, and blatant lies in Prasad's statutory declarations from 2014 to 2024, with Police conducting a separate criminal investigation into his directorship of Lotus (Fiji) Ltd.
Our investigation reveal that Biman Prasad did not declare that his wife owns two units worth $300,000 (in today's value, maybe $2million) in the Westville Villa complex, owned by Prasad and Sunil Chand.
Prasad also didn't disclose the two units he bought Off-Plan from Sunil Chand on 12 March 2014, three days before, on 15 March 2014, the two registered Lotus (Fiji) Ltd. Sunil Chand gifted him a 5% share, and the following year, another 45% = 50%.
*Under the Political Parties Act, Prasad is required to declare whether the shares were gift, for he didn't contribute a cent towards the building of the 28 units in Westville, Legalega, Nadi.

LASULASU-JHOOT: Was NFP leader and former USP Professor of Economics and Accountancy Biman Prasad suffering from the onset of dementia in 2014 when he sat down to fill the statutory declaration form? He failed to declare that he jointly owned a house with his wife and USP lecturer, Dr Rajni Kaushal Chand?
FICAC Commissioner Barbara Malimali should press on with the charges prepared by her FICAC investigators. It is not 'a political witch hunt' of Biman Prasad.
He has committed multiple breaches of the Political Parties Act between 2014 and 2024. Our investigation into his statutory political declarations raise some serious questions, especially since he is not only the Finance Minister but also the FRCA line manager.
For example, we discovered that he claimed to be the sole proprietor of a house with a Certificate of Title No 11097.
But according to our search, Biman Prasad and his wife Rajni Kaushal Chand had bought the property in September 2009.
In his declarations under the Political Parties Act, Prasad kept claiming that he was the sole owner of that property.
In the 2017 declaration, he merely states: 'CT11907 has been sold.'
Our investigation revealed that the couple jointly owned it until 2016, when they sold it to Lotus Construction (Fiji) Ltd on 19 January 2016 for $550,000.
Biman Prasad is a joint director at Lotus (Fiji) and holds a 50% share of the company.
Since the couple are vendors, a thorough investigation must be launched by FRCA to establish whether, as vendors, one or both paid the Capital Gains Tax when they sold it to Lotus (Fiji).
*Meanwhile, FICAC must press charges against Prasad regarding the house (CT11907) and other multiple breaches beginning in 2014 and continuing until 2024.

From Fijileaks Archive, 22 September 2014

BIMAN, GONE ROGUE WITH HIS STATUTORY DECLARATIONS?
On 22 September 2014, when he became NFP leader and parliamentarian, BIMAN PRASAD translated for me from Hindi* into English the then FFP MP Ashneel Sudhakar's subtle attack on me for questioning some of his FACEBOOK postings.

MERA SAJINI but when it came to his declarations, World's Apart
10 December 2022

2014: Striding into Parliament with Ashneel Sudhakar not far behind

दो (2) Bigha Zamin, Lotus Tours, Global Girmit Institute. Biman Prasad's baimaangiri in his statutory declarations. His fraudulent breaches call for RFMF to invoke its powers and forcibly remove him as Finance Minister

7/9/2024

PROFESSOR TO POLITICIAN:
How could someone who spent all his academic career teaching university students how to prepare accounts (truthfully) fail to present honestly his own (and his wife's) income, assets, property, shares, and thousands of dollars in banks under the Political Parties Act 2013? Was he out to deceive the taxman? Or was he hiding them from Aiyaz Khaiyum?
Shockingly, it went on for Ten years, Fiji, 10 YEARS.
Fijileaks spent the last three months scouring through his declarations.
In his recent FBC TV interview, he arrogantly dismissed the allegations, claiming his lawyers have written to FICAC. Well, he was referring to the first batch of complaints against him in February: GGI and a few others.
*We tested the original complaint and found several more, including his role in the formation of Lotus (Fiji) and, more seriously, the possible evasion of thousands of dollars in Capital Gains Tax, that warrant an immediate investigation by the Director of the Criminal Investigations Department and Fiji Revenue and Customs Service (FCRS),
We will be handing our file on Lotus (Fiji) and CGT to the Fiji Police.
We once again call on FICAC to charge him, and failing that, for the RFMF to invoke its powers in the Constitution of Fiji and remove him as Finance Minister and DPM.
The Ministor for Finance maintains control over public spending, sets the direction of Fiji's economic policy and strives to achieve strong and sustainable economic growth.
FCRS, currently under the control of his NZ buddy - doodwallah or soodoo- is empowered, among other duties, to catch TAX DODGERS.

Professor Biman Chand Prasad, NFP leader, CV
After graduating with a Bachelor of Arts in mathematics and economics from the University of the South Pacific, he pursued a Masters of Commerce from the University of New South Wales and Doctor of Philosophy from the University of Queensland.

Prasad became a lecturer at the University of the South Pacific in 1986. He was President of the USP staff Association from 1999 - 2006, head of the School of Economics from 2003 to 2007, and Professor of Economics and Dean of the faculty of Business and Economics from 2007 to 2011.

He is Associate Editor of the Journal of Fijian Studies and Editor-in-Chief of the Journal of Pacific Studies. Professor Prasad has published several books and journal articles. He has done consultancy work for many regional and international agencies and governments in the South Pacific region.

In April 2014, Prasad resigned as Professor of Economics from the University of the South Pacific to pursue a political career. He continues to hold Adjunct Professorships at the Griffith University, James Cook University and Punjabi University in Patiala, India.

Fijileaks: After we finish with his statutory declarations, we will reveal Biman Prasad, his wife and Ganesh Chand's role in Pacific Polytech.
Prasad has handed over $6million of taxpayers' money to PP.

Biman Prasad gave $200,000 of taxpayers' money to his wife and his chamcha* Ganesh Chand, trustees of the Global Girmit Institute, to organise a two-day international girmit conference at USP, where his wife Rajni Chand is a lecturer.
Did the Two Chands, Rajni and Ganesh, receive 'a corrupt benefit'?
How can Prasad give money to an Institute when he does not admit its existence in his declarations? Under the Political Parties Act, he must disclose his wife's affiliations with any corporation or other organisation in Fiji or abroad held by her, Rajni Kaushal Chand.
After Fijileaks* had exposed his wife as a trustee of the GGI, Prasad went on the offensive, and deploying the LYING TRAITS that he used in his statutory declarations, claimed that his wife was a former GGI and that he declared to the Coalition Cabinet of his wife's link to GGI, who approved the $200,000.
But where it mattered, legally, in the Political Parties Act, he never mentioned that his wife was a trustee, as required by law.
Therefore, he should be charged under the Political Parties Parties Act.
$60,000 LAND. Similarly, while as director of Lotus Tours and Transfers Ltd, he had put a plot of land in Matasawalevu to obtain a bank loan for the company. He never declared that he owned that plot of land worth $60,000 in his declarations.
He should be charged for failing to disclose the $60,000 worth of land.
*He should be charged with failing to declare that his wife was (is) a TRUSTEE of the Global Girmit Institute. The two Chands and a third trustee, Hirdesh Sharma, should be considered for the charge of obtaining corrupt benefit, which is $200,000.

In its '2016 Lotus Tours & Transfers Ltd Business Proposal', the company was seeking for refinance of existing debts and additional funding for purchase of fleet for operation of car rental business from HFC Bank. The total debt subsequent to successful refinance and additional funding sought was stated at $802,500.
The total funding, the 'Business Proposal' claimed would be secured against the following securities to be pledged by the company and the Directors (Prasad, Chand and Kumar) as follows:
* 1st Registered Mortgage Debenture
First Registered Mortgage over Residential Property comprised in Crown Lease 12167, being Lot 25 on SO 1878, situated at Bulai Rd, Laucala Beach Estate, Suva, with current market valuation of $400,000.
First registered mortgage given by Biman Chand Prasad over residential property comprised in Certificate of Title 27032, being Lot 9 on DP 5799, situated at Matasawalevu, with current market valuation of $60,000.
*Biman Prasad did not declare this piece of land in his statutory declarations.

From Fijileaks Archive, 8 August 2024

When did Biman Prasad wake up in bed and discover that his WIFE was a founding TRUSTEE of the Global Girmit Institute since 2017?
Was it in May 2023 when he was caught out giving $200,000 to his wife and Ganesh Chand of the GGI during the Girmit celebrations? FICAC must act against Biman Prasad, read to him the Political Parties Act

How can Prasad have handed $200,000 of public funds to his wife's Global Girmit Institute (when in his declarations to the Fiji Elections Office he doesn't mention her association with GGI) but later, when exposed by Fijileaks, he claimed that he had told the Coalition government Cabinet of his wife's link to GCI?
If so, how come he had omitted to disclose to the Registrar of Political Parties in 2017, 2018, 2019, 2020, 2021 and 2023 that his wife was a trustee of the Global Girmit Institute?
The GGI was de-registered in 2022 after it had failed to submit its accounts, but the trustees re-registered it in 2023.
BIMAN PRASAD must be charged and fronted before the court.
Our revelations regarding the falsehood and omissions in his statutory declarations from 2014 to 2024 and his controversial dealings as director of Lotus (Fiji) Ltd (50% share) are far more comprehensive and exhaustive with supportive documents, compared to the original complaint that was filed against him by a complainant (NOT us) in February 2024.
When he went on FBC TV to rubbish the claims, he was talking about the original complaint filed against him on 12 February 2024.

Deputy Prime Minister Professor Biman Prasad says his lawyers are handling the matter regarding Acting Deputy FICAC Commissioner Francis Puleiwai wanting to sanction charges against the MP. Puleiwai had earlier today written a letter to the Minister for Justice Siromi Turaga where it’s stated that FICAC is looking at laying charges against Prasad in relation to a complaint against him dealing with his asset, income and liabilities declaration. Prasad has told FBC News that his lawyers have already communicated with FICAC and rejected any basis of charges and then that he will not be making any further comments.

From Fijileaks Archive, 28 February 2024

Ms Ana Mataiciwa,
Acting Supervisor Fiji Elections,
Fiji Elections Office,
Suva, Fiji

12th February 2024.

Dear Ms Mataiciwa,

Re: Party Leader- Biman Prasad- False and Non Declaration under the Political Parties
Act 2014.

I am writing this letter to lodge an official complaint regarding one Biman Prasad who is the Party Leader of the National Federation Party which is currently in the Coalition Government.

I note that Biman Prasad has declared that his income being $188,000 per annum, however he failed to declare the FNFP contribution as it added on top of his salary under the Parliamentary Remuneration Act 2014, excluding his personal contribution as required by law (Attached as exhibit 1- Parliamentary Remuneration Act 2014). I state the following:

1. Under section 24 (1)(A) (B) (i) which stipulate one must declare total assets whether in Fiji or Abroad (including money and other property) in their possession or under their control. Therefore, I argue that FNPF contributions and any funds is considered personal property as one can have access to funds as stipulated in the withdrawal provisions of the fund being FNPF. Therefore, Biman Prasad should have declared his contributions and the amount held by FNPF. I note the case precedent used by Aiyaz Sayed Khaiyum whereby in one of his previous declarations he declared his FNFP declarations. Therefore, the same must apply in this case.

2. I note that Biman Prasad failed to declare his travel allowances during his overseas travel and the amounts he received. That evidence is in office and can be verified upon your perusal of his declaration.

3. I noted that Biman Prasad failed to declare that he is the Governor of the Asian Development Bank in Fiji. As that position is not Gazette to him under the Parliamentary Remuneration Act 2014 it is thus separate to his Minister of Finance Post- which must be declared under section 24 (1) (ab) (iv) of the Political Parties Act where a person must declare any directorship or other office in a corporation or other organisation whether in Fiji or Abroad held by each of them. In support I attach exhibit 2- Asian Development Bank Documents stating that Biman Prasad is Governor of the Reserve Bank.

4. I note that Biman Prasad did not declare that his wife one Dr Rajni Chand is the trustee of the Global Girmit Institute and that it facilitated the funds of $200,000 given by the Coalition Government. The Not for Profit Organisation was re-registered in 2023, after it deregistered in February 2022 for failing to supply its financial statements as required under the laws of Fiji. The period of re-registration falls within the required period upon which Biman Prasad is required to declare in his 2023 Financial Declaration (Attached is exhibit 3- Global Institute Deed of Trust and
Registration Documents).

5. I note that Biman Prasad did not declare his connection to Ganesh Chand and Hirdesh Sharma whom are the registered Trustees of the Global Girmit Institute upon whom received $200,000 of Tax payers funds. This is a breach under section 24

(a) (b) (iii) of the Political Parties Act. I submit that no tender was called in relation to the event organisation.

6. I note that Biman Prasad declared that he owns 50 percent shares in Lotus Construction Pte Limited, however upon obtaining the registration documents and the Article of Association – it was established that Biman Prasad only has a 5 percent share in Louts Construction and not the 50 percent share he claims in his declaration (Attached as exhibit 4- Lotus Construction Pte Limited Registration Documents and the Article of Association). Fijileaks: Corrective. Our investigation reveal that Sunil Chand gifted Biman Prasad 5% shares in Lotus (Fiji) when they registered the company on 15 March 2014. The next year, Chand transferred 45% shares out of his 95%, making Prasad a 50% shareholder in Lotus (Fiji). Prasad did not reveal the identity of Lotus from 2014 to 2022 until he became Finance Minister. He revealed the identity in his 2023 statutory declaration.

6.2. The document was re-lodged in 2022 with the date of the Article of Association dated and signed in 2014 and upon which the re- registration occurred in 2022.

7. I note that one of the directors of Lotus Construction upon which Biman Prasad has shares in is Sunil Chand (Please refer to exhibit 4). Biman Prasad did not declare the business connection with Sunil Chand who has the same Lotus Construction company in Australia thus being a breach under section 24 (a) (b) (iii) of the Political Parties Act 2014 (Attached is exhibit 5- Louts [Lotus] Construction registration in Australia).

8. Biman Prasad’s spouse Dr Rajni Prasad [Chand] did not declare that she is Chairperson to Femlink Pacific (Please note she has held this position 2009 to date), therefore being a breach under 24 (1a) (d) of the Political Parties Act (Attached is exhibit 6- Femlink Document stipulating that Dr Rajni Prasad is the Chairman of the organisation). Dr Rajni Chand may/may not be receiving a salary from this post nonetheless it was a non-declaration.

9. I note that Biman Prasad and Dr Rajni Chand have not declared under section 24 (1) (a,b (iii) and 24 (1A) (c) of the Political Parties Act 2014 their business transaction to one Dr Ganesh Chand who is the co-trustee of the Global Girmit Institutre as previously mentioned. However, due to the business transaction the fact must be taken into account is that Biman Prasad allocated $1 million to Pacific Polytech whose Advisor is Dr Ganesh Chand. Please note that there was no tender process in line with the Laws of Fiji. Please note that Pacific Polytech has not submitted that their Audit reports as required. The funds was transferred in 2022 to Pacific Polytech.

I therefore submit this complaint for the breaches under the Political Parties Act 2014 upon which I understand that whilst some elements of this complaint cannot be handled by your office.

You must, therefore, refer the matter to FICAC under section 18 of the Political Parties Act.

*Complainant's name withheld by Fijileaks.

From Fiji Sun Archives, 2007 and 2008: Warning to Biman Prasad

LOTUS (Fiji) SOLD 'NIRVANA VILLAS' TO INVESTORS. BIMAN Prasad and SUNIL Chand's grand plan to build villas at Westville, Legalega, in Nadi, 2014. A decade later, sub-lessees still waiting for TLTB Strata titles

6/9/2024

EVICTION THREAT: In fact, some lessees have been evicted, some have been threatened with eviction and re-possession of their flats/units, with Lotus (Fiji) accusing the TLTB of not proceeding with the strata titles and creating other difficulties. Legal notices to sub-lessees:
'Your Occupation is Illegal'.
*We will bring you more on evictions and threats of eviction later.

"The purpose of this proposal is to request TLTB to issue One Head Lease and 30 subleases to the owners of 30 Villas constructed on iTaukei land."

DEVELOPMENT PROPOSAL AND CONCEPT PLAN FOR LOT 1, WESTFIELD SUBDIVISION, NLTB 6/10/4572, LEGALEGA, NADI

The Proposal

The purpose of this proposal is to request TLTB to issue One Head Lease and 30 subleases to the owners of 30 Villas constructed on iTaukei land, described above. The units have not been sold yet will remain under the head lessee. The current list of owners is attached.

The unit title concept/sublease is not new to Fiji as various large scale high end projects e.g. Sheraton Villas at Denarau, Hilton Villas, have used the concept especially in the sale and management of crown land based developments. It may be relatively new when the concept is applied to iTaukei Land. Strata/Unit title concept of apartments, units and villas are the most common method of property developments in Australia and New Zealand.

The strata based ownership has a number of advantages when compared to free standing home and stand-alone properties.

Benefits to Owners

Cost effectively

It is much more cost effective to own strata based units as the cost of land, construction & infrastructure is shared with many owners. Generally speaking strata titles are around 50% of the cost of stand-alone fully detailed premises.

Security

Providing 24/7 security guards and a gated compound is highly desirable especially to foreign owners, who may not have permanent occupancy of their units.

Services

Strata units are more cost effective as they share the common infrastructure, cost of roads, water supply, sewerage, internet and telephone and electricity. The proposed developments have standard connection to all these services, including electricity substantiation.

Fully self-contained

The apartment are developed and marketed as fully self-contained with all household contents e.g. bedding, kitchen appliances, laundry appliances and furniture included in the purchase. It is providing attraction to buyers who do not need additional funds to purchase these once the house is complete.

International Buyers

International buyers are well familiar with the strata concept and because of cost effectivity, ideal location, security and maintenance aspects particularly suits international investors, mostly former Fiji national now living abroad.

Ownership Flexibility

Strata/Unit title properties are sold as unit by unit basis, rather than a company title, where one owner owns and does not need to sell the whole development. Due to the flexibility, it creates liquidity in the sale and purchase of apartments and better capital growth for the owners.

Location

The development is situated around a km from the Nadi International Airport and in a growth corridor in Fiji. It is ideal for the growing needs of the Nadi Development precinct given that much of Nadi is subject to regular and periodic flooding.

International Quality Finish

The development has been completed based on Australian standards and used all first quality materials and finish. It has involved specialist and trades people from Australia, working and supervising local workers. Finishing materials were bought from overseas, including Australia and China.

Benefits to Community

Additional Accommodation

Western Fiji is currently struggling to have sufficient accommodation for the demand that has been generated. This strata concept of 30 dwellings is ideal to providing high end residential accommodation to visitors and business people, and international employees.

Creating a Community

A gated community mixing people of all background creates a modern village community. It encourages neighbourhood and breaks down traditional social barriers. It creates, encourages and fosters community spirit and sharing.

Resource Allocation

Use of higher density living and compact infrastructure means that the cost to society to provide the services is much more cost effective.

Industry

By having international organisations and trades people working with local employees creates a perfect training ground for local interns and apprentices. In long term it will help cement a better quality of trade’s people locally.

Employment

The project provided employment to 100’s of trades people and unemployed people during construction work and permanent roles for property manager, gardeners and security personnel and cleaners and maintenance people.

Benefits to TLTB & Traditional Owners

Unique Land Utilisation

Rather than buying large parcels of land to individual buyers by having a master lease (Head Lease) and an individual leases, it provides a higher land utilisation. Quality land is already at premium in high growth corridors and Namaka to Nadi Corridor is an example, it encourages better land utilisation. It also reduces the conversion of previously agricultural land for residential housing.

Increase in Rental Income

TLTB will be able to increase its Head lease and individual rental to the owners. Current Head Lease rental is $320/year. We are anticipating and recommending that the Head Lease be increased to $3,200 per annum; which is 10 fold increase over the current lease payment. We also recommend that individual sub-lease holders not be charged any rent. This will simplify the collection of rent by TLTB.

Future Opportunities

The strata/unit structure that has been presented to TLTB is a unique and futuristic way to manage land utilisation and maximum return to the iTaukei land owners. As the metro land gets in shorter supply, residential dwellings and land block will shrink leading to high density utilisation. We recommend that TLTB not only approve this strata planning but consider implementing/conditioning that higher value residential land be subject to strata based structure. Strata or Unit based development is a common for commercial units across the developed countries as has been the stratisation (strategization) for residential development.

Design Plans

Please refer to detail Plans for 30 Units provided
Specific Features of the project included

Gated, fully secure community
Location ideal for international investors and travellers
Fully serviced apartment. Please refer to the list of inclusions per apartment
High standard finish (Australian Standard)
Infrastructure includes
Town water
Sewer Connection
Grid based electricity supply
Own transformer
Telecom connections
Internet-wired and wireless connection
Sell of a unit by unit basis thus creating liquidity within the property

Contractual Rights and Obligations

The agreement is governed by the Laws of the Republic of Fiji Islands and all parties submit to the exclusive jurisdiction to the courts of Fiji Islands. An aspect to any disputes arising out of the agreement of the contract of sale and purchase of property in Fiji is regulated by the Land Transfer Act. The Land sales Act regulates the sale and purchase of Land to non-residents. The terms of the contract of sale and purchase (copy attached) contains specific rights and obligations of owners and tenants.

All current and future owners will execute the contract and accept the terms of ownership.

Specific “neighbourhood Rules” a (copy attached) will be part of the contract of sale and purchase and will be binding on all owners, land lords, tenants and visitors. These rules may be updated by the Strata Committee.
The Strata Committee will comprise a minimum of 25% of all owners (Equity owners) and have the overall jurisdiction on neighbourhood rules. This community will engage professional like real estate managers, gardeners, maintenance and security officers to maintain the upkeep of the property.

Future Prospects

Lotus Construction (Fiji) Ltd is engaging to team up with TLTB to champion and provide technical assistance and to build similar unit based accommodation in areas of high public demand on TLTB land.

We are currently negotiating with various developers/land owners to find suitable land for future similar developments.

The strata systems (Unit Based Ownership) as has been described and implemented in Westfield subdivision by Lotus, could become the benchmark framework for further high density development by other developers on TLTB land.

This will not only provide better accommodation, comparatively reduce the cost of accommodation at the same time give TLTB significantly increase in rental earnings. Once the concept has been accepted and understood within the Fijian Real Estate industry it will allow the developments outside the metro area, giving substantial benefits to all parties; owners, government, community and TLTB included.

Coalition's Finance Minister Biman Prasad bought two units Off-Plan on 12 March 2014 but we don't know if he still owns the two units. He didn't declare the two units in his statutory declarations from 2014 to 2024. Three days after buying the two units, Biman Chand and his first cousin Sunil Chand formed Lotus Construction (Fiji) Ltd on 15 March 2014. Prasad was gifted a five per cent share in the company, and a year later, in 2015, was gifted another 45 per cent share by Sunil Chand, and currently holds 50 per cent shares in Lotus (Fiji).

<<Previous

Forward>>